Clorox Cyberattack Recovery Stalls, Pushing Outlook Down [BNN Bloomberg (Canada)]
Procter & Gamble Company (The) (PG)
Last procter & gamble company (the) earnings: 4/17 07:00 am
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Source: BNN Bloomberg
Revenue and organic sales are expected to be at the low end of the company's previously given forecasts in the current fiscal year, Clorox said Tuesday. Meanwhile, the volume of goods shipped to stores declined in the three months ended March 31, while analysts had predicted a 1.6% gain, according to data from Bloomberg. Organic sales also lagged behind projections. While Clorox has been able to restock most inventory and regain much of its lost distribution, certain categories, including Glad bags and cat litter, have taken longer to rebound from the hack that took the company's systems offline last year. Clorox says it has restored nearly 90% of its cyberattack-related losses in market share. In February, the maker of Pine-Sol cleaners said it had recovered 80% of lost households, and 86% of lost distribution points. The shares fell 1.3% in late trading on Tuesday. Through Tuesday's close, Clorox had gained 3.7% so far this year, while the S&P 500 Index climbed 5.6%. The drop
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