Following disappointing earnings on Thursday afternoon, Clorox (NYSE: CLX) shares fell 14.3% on Friday, making it the day’s worst-performing stock on the S&P 500. One of the lowlights was the company’s gross margin, which declined 1,240 basis points year-over-year in its fiscal second quarter to 33% from 45.5% one year earlier. That contraction was primarily driven by commodity, logistics and manufacturing costs. In this newsletter, I won’t harp on margins — the entire Q&A portion of the...
https://www.freightwaves.com/news/clorox-wont-clean-up-its-margins-this-year