Colgate brushes up on cost saves to solidify its leading competitive prowess.
Despite the mid-single-digit erosion in the share price following Colgate’s fourth-quarter results (which included a 2% uptick in underlying sales and a 190-basis-point degradation in adjusted operating margins to 26%), we neither believe performance was as dire as the share response would suggest, nor do results portend its competitive edge is showing signs of decay. For one, we view the sequential improvement (up from 1.5% in the third quarter) in organic sales as a positive, particularly in l...
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