Church & Dwight Delays Expanding VMS Production Capacity As Pandemic-Driven Sales Growth Slows
Sales of Waterpik oral care devices and Flawless feminine hair-removal, skin and nail care line also slowed during Q3. Those two and vitamin business combined for 6% drag on net sales, finishing flat at $1.32bn.
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Church & Dwight agrees to buy Hero Cosmetics, maker of acne and skin care patches and topical products, for $630m, adding leading US acne patch brand to its “power brand” lineup. Mighty Patch is among more-than 30 products Hero manufactures and markets.
Lowers full-year forecast for reported sales growth to 4% to 5% from an earlier estimate of 5% to 8% despite improving to 89% on meeting demand during the April-June period from 80% during Q1.
Consumers’ Inflation Fatigue, Recession Fears May Put Health, Beauty Product Price Increases On Hold
Church & Dwight, Perrigo executives' comments at investor conferences could signal OTC drug, supplement and personal care product firms are moving from gauging pandemic impact on supply chains and consumer spending to anticipating shifts in consumer preferences and cost increases caused by inflation with recession appearing more likely every day.