Clorox lifts annual profit outlook, powered by higher prices [Reuters]
Walmart Inc. (WMT)
Last walmart inc. earnings: 2/18 06:00 am
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Source: Reuters
Chief financial officer Kevin Jacobson said in an interview with Reuters that the household staples maker has no more price hikes planned for the rest of its fiscal year, ending in June. “We think we've taken enough for now,” Jacobson said. Jacobson added that Clorox is planning for more layoffs over the next few months as it cut costs. He declined to share the number of employees who would be let go. The first phase was last September, and more are planned for its next fiscal year, Jacobson said. Clorox saw its products fly off the shelves at the height of the pandemic, when consumers rushed to keep their homes free of infection and stockpiled on its wipes and surface cleaners. However, demand has waned since then, with product volumes decreasing in three of Clorox's four business segments in the reported quarter. Still, the multiple rounds of price increases that Clorox rolled out across a breadth of its products over the last two years helped the company report a 1% incr
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