With a focus on driving out costs to fuel brand spending, Clorox stands to bolster its wide moat.
Wide-moat Clorox ended fiscal 2016 on solid footing, chalking up a 5% increase in underlying sales in the quarter, entirely reflecting higher volume. We view this result as even more impressive as it came on top of a 6% increase last year. While adjusted gross margins ticked down 20 basis points to 45.4%, as increased logistic and manufacturing costs offset the benefit from lower raw materials and cost savings, and operating margins slumped 250 basis points to 16.8%, we don’t view this deteriora...Clorox is a manufacturer and marketer of consumer products. The company sells its products through mass retailers, grocery outlets, warehouse clubs, dollar stores, home hardware centers, drug, pet and military stores, third-party and owned e-commerce channels, and distributors. The company has four reportable segments: Cleaning, which consists of laundry, home care and other products; Household, which consists of charcoal, bags, wraps and containers, cat litter, and digestive health products; Lifestyle, which consists of food products, water-filtration systems and filters, natural personal care products, and dietary supplements; and International, which consists of products sold outside the United States.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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