×
2 484
Fashion Jobs
PRETTYLITTLETHING
Senior Affiliate Marketing Executive
Permanent · MANCHESTER
BOOHOO
Ecommerce Trading Executive
Permanent · MANCHESTER
ESTEE LAUDER
Clinique - Consultant - Brown Thomas, Dublin - 15 Hours - Part-Time, Permanent
Permanent · Dublin
SHISEIDO
Nars Account Manager - Harvey Nichols London (37.5 Hours)
Permanent · London
ESTEE LAUDER
Clinique - Consultant - m&s Newcastle - 15 Hours - Part Time, Permanent
Permanent · Newcastle upon Tyne
ESTEE LAUDER
jo Malone London - Marketing And Consumer Engagement Director
Permanent · London
AESOP
Retail Consultant | Part-Time, Permanent | Aesop Selfridges Exchange Square, Manchester
Permanent · Central
BOOHOO
Print Sales Account Manager
Permanent · MANCHESTER
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
ESTEE LAUDER
Mac Cosmetics - Business Manager - Mac Stratford2, London - 37.5 Hours / Week - Full Time, Permanent
Permanent · London
HARRODS
Brand Manager
Permanent · LAKESIDE
HARRODS
Uniformed Security Officer
Permanent · LONDON
VF INTERNATIONAL
Senior Distribution Systems Specialist
Permanent · COALVILLE
ESTEE LAUDER
Bobbi Brown, la Mer And Darphin - CRM & Insights Assistant
Permanent · London
HARRODS
Food Supply Manager
Permanent · LONDON
JOHN LEWIS
Loss Prevention Partner
Permanent · CAMBRIDGE
HEAD OFFICE
Cyber Security Lead – Incident Response
Permanent · BRACKNELL
HEAD OFFICE
Delivery & Operations Manager
Permanent · BRACKNELL
BOOHOO GROUP
Product Manager
Permanent · MANCHESTER
DEBENHAMS
CRM Executive
Permanent · LONDON
PRETTYLITTLETHING
Business Analyst
Permanent · MANCHESTER
PRETTYLITTLETHING
Buying Admin Assistant
Permanent · MANCHESTER
By
Reuters
Published
Jan 28, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Colgate-Palmolive expects profit to decline in 2019

By
Reuters
Published
Jan 28, 2019

Colgate-Palmolive Co forecast a surprise drop in 2019 profit on Friday, blaming higher raw material costs and a stronger dollar, sending its shares down 3 percent.

For the fourth quarter, Colgate reported an adjusted net income of $638 million, down 3 percent from a year earlier - Palmolive


Like other consumer goods companies, the world’s largest toothpaste maker has struggled with rising commodity and transportation costs, forcing it to raise prices in regions like Latin America, where it makes the bulk of its revenue.

Higher prices crimped demand, especially in Brazil and Argentina, where Colgate faces stiff competition from Procter & Gamble’s Oral-B and Unilever’s Close Up.

To keep its market share, the company said it would spend more on advertising in fiscal 2019, but expects that, along with higher raw material costs and fluctuating foreign exchange rates, to lead to a mid-single-digit decline in earnings per share for the year.

Analysts were expecting a 2.4 percent rise in earnings per share for the year, according to IBES data from Refinitiv.

“Our outlook reflects an increase in raw material prices, an increase in our tax rate year-over-year and the uncertainty surrounding the global economy, exchange rates and pricing,” Chief Executive Officer Ian Cook said in a statement.

Even in North America, where Colgate recorded strong fourth-quarter sales, economists have predicted that a consumer boom - set off by tax cuts, rising incomes and buoyant stock markets - could be fading due to a U.S. government shutdown, higher interest rates and trade tensions.

The company, which boasts of a 42 percent share of the global toothpaste market, expects net sales for 2019 to be flat to up low-single digits, compared with analysts expectations of a 0.1 percent fall.

For the fourth quarter, Colgate reported an adjusted net income of $638 million, down 3 percent from a year earlier. On a per-share basis, it earned 74 cents, beating analysts’ estimates of 73 cents.

Net sales in three months ended Dec. 31 fell 2.1 percent to $3.81 billion, but beat estimates of $3.77 billion, according to Refinitiv’s IBES.

Shares of the company were set to open down 2.7 percent to $60.50 in early trading, adding to a 19 percent decline its stock has seen over the past 52 weeks.

© Thomson Reuters 2022 All rights reserved.