Colgate-Palmolive To Raise Prices As Raw Materials Costs Surge
Colgate-Palmolive Co said that it plans to "modestly" raise prices in the second-half of the year, mainly in emerging markets, as the world's largest toothpaste maker seeks relief from surging raw materials costs.
Big packaged goods companies have been struggling to grow sales amid fierce pricing competition between retailers and as shoppers turn increasingly to fresher brands. The industry also has been rocked this year by rising commodities and transportation prices.
Shares in Colgate were flat on Friday, reversing course from a 3 percent decline after the company reported weaker-than-expected quarterly sales and warned that it expected slower full-year net sales growth.
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