Clorox The company is facing inflationary costs and is considering raising shelf prices for cleaning products.
In CNBC’s Friday appearance, CEO Linda Rendle told Jim Cramer, a bleach producer whose sales accelerated amid the ongoing health crisis, that the cost of inputs such as resin and transportation was high. Said.
“We activate a long-standing cost-cutting program and ensure it’s delivered to the entire business,” she said.Flirt“We are seeing price increases, but we are very measured and are embracing it with a category-based approach. Of course, we will focus on innovation and margin-increasing innovation.”
Lendl, who began leading Clorox in September, predicts that the inflationary environment will continue this quarter and beyond. She hopes that some costs will be offset as other one-time costs associated with Covid-19 will diminish as the global economy recovers.
The Federal Reserve Board said it wouldn’t move to fight inflation until the labor market regained losses from the Covid-19 blockade.
“We are focusing on the long term,” Lendl said. “We intend to survive this challenging cost environment, but we are confident in our ability to accelerate long-term profitable growth.”
Clorox reported various results on Friday morning in the third quarter. Revenues have been flat for a year. This was after the pandemic generated double-digit growth for four consecutive quarters. Stock prices during the session fell almost 2% to $ 182.50.
Clorox weighs rising product prices to counter inflation costs
Source link Clorox weighs rising product prices to counter inflation costs