Colgate CEO: No Retailer, Consumer Resistance To Price Increases
May 12 2011 - 9:39AM
Dow Jones News
Colgate-Palmolive Co. (CL) hasn't faced any pushback from
consumers or retailers to price increases, Chairman and Chief
Executive Ian Cook said Thursday.
"There has been no retailer or consumer resistance to the
pricing we have taken," Cook said at a Goldman Sachs consumer
products conference.
Colgate has been raising prices "broadly" across product
categories and in geographic regions, Cook said, as it seeks to
offset rising costs for oil, resin and other items used to make and
ship its products.
Last month, Colgate said that rising costs would prevent it from
expanding margins this year. Higher prices are expected to boost
sales in the second-half of the year.
Colgate shares were unchanged premarket at $85.07.
-By Paul Ziobro, Dow Jones Newswires; 212-416-2194;
paul.ziobro@dowjones.com
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