Reckitt, the maker of Dettol, reported that it fell short of its expected first quarter like-for-like sales growth, resulting in a sharp decline in share prices. The company acknowledged that it is in the process of selling its Essential Home business, noting that challenging market conditions could delay this sale. Full-year net sales are projected to grow between 2 and 4%, reflecting a difficult macroeconomic environment. Analysts express concerns about operational performance during this critical period of turnaround for Reckitt, highlighting broader apprehensions in the consumer staples sector as a result of the economic climate.
The maker of Dettol, Reckitt, reported missed first quarter sales growth estimates, leading to a decline in their share price.
Reckitt acknowledged a challenging macroeconomic outlook, with full-year like-for-like net sales growth between 2 and 4% amid market conditions impacting timelines.
Barclays analyst Iain Simpson highlighted Reckitt's complex turnaround, stating no news is good news regarding their operational performance.
Widespread apprehension around this results season across consumer staples underscores the limited macro outlook, as noted by analysts.
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