Colgate on pricing
This article was originally published in The Tan Sheet
Executive Summary
Colgate toothpaste price increases slated for mid-year will occur regardless of whether competitor Procter & Gamble follows suit with Crest, Colgate CEO Ian Cook says during a May 12 conference hosted by Goldman Sachs. Addressing analysts' concerns that other competitors will not raise prices, Cook notes the firm will stick to its plan, noting, "We feel the brand can support it, and the costs on the business suggest a need for it." He adds there are indications that "there is some price movement happening" with other brands. Colgate and P&G recently announced plans to increase product prices this year in order to offset higher commodity costs (1"The Tan Sheet" May 12, 2008, p. 7)...
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