This article was originally published in The Tan Sheet
Abbott Labs nutritional division net sales up slight 1.5% to $511 mil. in Q2, feeling impact of "unusually high" promotional spending by competitors and accounting procedure change that reduced quarterly sales by 1%. Accounting adjustment change requiring coupons, rebates be reclassified from SG&A expenses to deduction from sales was implemented in Q4 and impacts comparisons to year-ago quarters, company notes (1"The Tan Sheet" Feb. 5, p. 14). Ross predicts "mid-single digit" sales growth for remainder of 2001. Firm says it will refer to recent infant formula study showing Similac with Iron promotes greater bone density than Mead Johnson's Enfamil with Iron in upcoming promotions
You may also be interested in...
Pharmaceutical and consumer product firms are beginning to report the financial effects of accounting procedures that change the way some companies account for coupons, rebates and other incentives in income statements.
Finalization of a settlement between the Federal Trade Commission and Rexall Sundown regarding unsupported cellulite treatment claims for the firm's Cellasene dietary supplement hinges upon approval of two related class action settlements pending in California and Florida, according to FTC
Perrigo promotes in pricing, planning