Clorox Co

CLX: XNYS (USA)
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Clorox Earnings: Headwinds Abound, but We See Investments as a Prudent Means to Steady Its Ship

Organic sales ticked down 1% in Clorox's fiscal second quarter, driven by lower volumes. Cost savings (a 170-basis-point benefit) were unable to offset higher manufacturing and logistics costs (a 240-basis-point headwind), resulting in a decline in gross margin to 43.2%.

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