Clorox Exec Says No More Price Hikes, Layoffs Coming as It Lifts Annual Profit
Clorox Co. Chief Financial Officer Kevin Jacobsen said on Thursday that the bleach maker has no more price hikes planned through June, and is readying for more layoffs as it looks to recover margins following sky-high inflation.
The Pine-Sol manufacturer on Thursday raised its forecast for annual adjusted profit after reporting a surprise rise in sales, as higher prices helped it offset a slowdown in demand for its cleaning products and disinfectants.
Jacobsen told Reuters that the household staples maker has no more price hikes planned for the rest of its fiscal year, which ends in June. It last took price hikes in December, he said….