CLX
📉 Clorox has lowered its full-year sales forecast, now expecting 4-5% organic growth, down from a previous 4-7%, due to a worsening economic climate.
🛍️ Consumers are cutting back on spending, leading to a temporary slowdown in Clorox’s product categories and a decrease in sales during the third quarter.
🔮 The company’s CEO, Linda Rendle, anticipates that this economic-driven sales deceleration will continue into the fourth quarter, signaling ongoing challenges.
@bernardodegarcia:
“Clorox was reducing its guidance. Let’s see if we can find it here quickly. There it is. Shares are down 3%, still trading at $119, but attractive. Well, the fact is that it reduced its sales forecasts for the full year, as the deteriorating economic situation caused consumers to reduce their spending. Sales will now grow between 4 and 5% organically for the fiscal year ending in June, according to the company. Previously, Clorox recorded growth between 4 and 7%, while analysts had forecast 5.4%. In the third quarter, greater macroeconomic uncertainty drove changes in purchasing habits, resulting in a temporary slowdown in categories and a decrease in sales, stated CEO Linda Rendle in the communication. We anticipate that this slowdown will persist into the fourth quarter.”
Watch the exact part of the video where Bernardo de Garcia talks about Clorox here:
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Read more articles by the world’s top 100 analysts on Clorox (CLX) at the following link. CLX stock.
