Colgate-Palmolive Reports Drop In Net Sales Of 5.5% In Q2 2016
Global personal hygiene company, Colgate-Palmolive, reached net sales of $3,845 million (€3,469 million) during the second quarter of 2016; a decrease of 5.5%, compared to the second quarter of 2015.
"As we look ahead, macroeconomic conditions and foreign exchange volatility remain challenging. We expect a low-to-mid-single-digit net sales decline for the year due to continued currency headwinds," said the company's chief executive, Ian Cook.
"Despite this, we continue to anticipate another year of solid organic sales growth in 2016, driven by a full new product pipeline across all categories and geographies."
Cook expressed satisfaction regarding the company's 4.5% growth in organic sales, pointing out that it was driven largely by emerging markets.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Gabriela Guédez. To subscribe to ESM: The European Supermarket Magazine, click here.