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Colgate's fourth quarter sales rose 4.5% to $3.89Bil vs. 4Q16. Pricing was down 1%, while organic sales grew 2%. Profits nosedived 47% to $323MM, primarily due to tax charges of $275MM. Global ad spend spiked 24% to $369MM vs. 4Q16. For 2018, $CL expects its sales to increase mid-single-digits and organic sales to grow low to mid-single-digits.
$CL agreed to purchase professional skin care brands PCA Skin and EltaMD in two separate transactions. The terms of the deals, currently expected to close in 1Q18, were undisclosed. These transactions are expected to have no impact on earnings in FY18.
In 2Q17, $CL's North America net sales fell 3.5% and Latin America net sales rose 7.0%. The FMCG giant's CEO Ian Cook said, "we continue to expect low-single-digit net sales increase for 2017, and given our slower than expected first half, we are now planning for low-single-digit organic sales growth for 2017."
Worldwide reported net sales of $CL slipped 0.5% to $3.83Bil in 2Q17 with global unit volume falling 1%. Organic sales were even with the year ago period, and net income slumped to $524MM and $0.59 per diluted share from last year's $600MM and $0.67 per diluted share.
Consumer products giant $CL said it is shifting more of its investment to digital and will continue to push from a social consumer engagement point of view. The company is staffing separate groups for advancing into e-commerce. The company added that 100% of investment in its subsidiary Hills, a pet nutrition company, is digital.
$CL said the inventory reduction pressure it was facing in North America have abated and seeing improvement in category consumption. In North America, sales and volume declined in 1Q17, reflecting the impact of market share losses from a portfolio transition within home care business, retailer inventory reductions and a slowdown in category growth.
Revenues of $CL was flat at $3.76Bil in 1Q17, as the consumer giant posted a 7% rise in net attributable income of $570MM from $533MM a year ago. Earnings rose to $0.64 per diluted share from $0.59 a share, offset by lower-than-expected North America sales.