CleanTec Industry News
Clorox Reports Sales Declines During Fiscal First Quarter
Expired
International. Clorox Co., CloroxPro's™ parent company, reported fiscal first-quarter sales of $1.4 billion, down 20% from the same quarter last year.
Clorox reported net cash provided from operations so far this year of $20 million compared to $178 million last year, representing an 89% decrease.
Net sales in the company's health and wellness segment, which includes professional and cleaning products, fell 23%, while sales in its home division saw a similar decline. Clorox's lifestyle division saw a 28% decline in sales and its international division saw a 5% drop.
"After starting the fiscal year with strong momentum, the August cyberattack caused large-scale disruptions that are impacting our near-term financial performance," said Linda Rendle, CEO of Clorox. "Looking ahead, our near-term priorities are clear: we are very focused on rebuilding customer inventories, preserving merchandising activities, and ultimately rebuilding distribution and market share. We are confident that our portfolio of leading brands in essential categories and our IGNITE strategy will enable us to achieve steady, profitable growth over time."
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