How does Clorox plan to catch up? For insights we turned to Clorox CEO Don Knauss.
In an effort to boost sales, Knauss says Clorox is taking closer note of shoppers' spending habits. "Consumers are increasingly focused on value" he says. As a result, Clorox intends to focus on affordability to prevent value-oriented consumers from trading down to other products.
“We think we’ll be very well positioned going forward,” he says.
Knauss also sees opportunity in natural products and will launch a new Green Works detergent and stain remover. ”Green Works is going to be a driver going forward,” he adds. “The product works at a fair price.”
Clorox is also going after the health and wellness market though Knauss didn’t provide specifics.
And investors may also be interested to learn Clorox raised its dividend and stood by its fiscal 2010 forecast on Thursday.
Do these and other initiatives aimed at winning market share make Clorox a buy?
It’s cheaper than rival P&G and they run the business well, says Guy Adami. I think it’s undervalued and in my book, yes, Clorox is a buy.
Mine too, adds Jeff Macke. People are very loyal to the Clorox brand.
You can see our entire interview with Clorox CEO Don Knauss at the end of the video above.
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