Yahoo Sport

Clorox lifts annual profit forecast on pricing benefits

Clorox Co raised its annual profit forecast on Tuesday after beating quarterly earnings expectations, banking on effects of price hikes taken to offset escalating costs. Consumer good companies, including Clorox, have been increasing product prices steadily over the last few years to protect profits from costs tied to manufacturing and logistics. Peers Colgate-Palmolive and Kimberly-Clark have also raised their respective sales and profit forecasts in recent weeks on the back of higher product prices.