How Colgate-Palmolive Is Growing Through the Coronavirus
Colgate-Palmolive (NYSE: CL) stock has outperformed the market through mid-August, with shares up about 12% compared to a 5% increase in the S&P 500. That's better than consumer staples rival Procter & Gamble has done, but not quite as good as peer Kimberly-Clark, which is up 15% so far in 2020.
Like these more diversified giants, Colgate has seen faster sales growth thanks to changes in consumer shopping behavior around the COVID-19 pandemic. Organic revenue jumped by nearly 6% in the quarter that ended on June 30 and by 7.5% in the prior quarter that captured the early days of the outbreak. That's significantly higher than the initial 3% to 5% growth outlook that management issued back in late January.
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Source Fool.com
