Without a defensible edge, Church & Dwight's share recently has succumbed to competitive pressure.
It was a similar story relative to the recent past for no-moat Church & Dwight in the quarter, as sales growth decelerated to just a 1.2% underlying uptick (from nearly 4% in the second quarter, entirely due to volumes) while margins edged higher (gross margins expanded 60 basis points to 45.4% and operating margins increased 40 basis points to 22.5%). Management again cited that promotional activity weighed on results and its share, as six of the firm’s top 10 brands lost share (in line wit...Church & Dwight develops, manufactures and markets a range of consumer products. The company's consumer products include: ARM & HAMMER? baking soda, cat litter, laundry detergent, carpet deodorizer and other baking soda based products; TROJAN? condoms, lubricants and vibrators; OXICLEAN? stain removers, cleaning solutions, laundry detergents and bleach alternatives; SPINBRUSH? battery-operated toothbrushes; FIRST RESPONSE? home pregnancy and ovulation test kits; NAIR? depilatories; ORAJEL? oral analgesic; XTRA? laundry detergent; L'IL CRITTERS? and VITAFUSION? gummy dietary supplements; BATISTE? dry shampoo; WATERPIK? water flossers and showerheads, and FLAWLESS? hair removal products.
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