Clorox sales miss forecasts as it sells fewer items
Aug 1 (Reuters) - Clorox Co, best known for its namesake bleach, posted a higher quarterly profit on Thursday, aided by cost cuts and price increases that helped it mitigate declines in its home care and charcoal businesses and soft sales internationally.
Clorox earned $183 million, or $1.37 per share, in the fiscal fourth quarter that ended in June, up from $174 million, or $1.32 per share a year earlier. Including only continuing operations, it was a profit of $1.38.
Sales ticked up 0.4 percent to $1.55 billion, below the $1.57 billion Wall Street was expecting, according to Thomson Reuters I/B/E/S. Overall sales volume fell 3 percent.
Clorox reaffirmed its forecast for its new fiscal year of earnings per share from continuing operations of $4.55 to $4.70.