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Wednesday, December 7, 2022

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Shoppers Feel the Pain as Consumer Giants Pass On Soaring Costs

Yet some of the country’s most prominent consumer giants have surprised markets this week by revealing strong sales and profits — even after they ramped up their prices. Unilever Plc hiked prices by 11% during the second quarter but is still lifting its forecast for this year’s sales growth. Reckitt Benckiser Group Plc, the maker of Durex condoms and Nurofen painkillers, said its prices climbed nearly 10% in the second quarter. Volumes, nonetheless, were up 2.2%. Haleon Plc, the huge consumer division carved out of GSK Plc, added to the chorus, saying it expects organic revenue to grow as much as 8% this year.

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