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Reckitt - 1 China Reckitt - 1 Nicandro Durante - 1 Richa Naidu - 1 David Evans - 1
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☆ China's consumer sentiment is down, but not when it comes to condoms
  + stars: | 2023-07-26 | by ( Richa Naidu | Thomson Reuters | London-Based Reporter Covering Retail | ) www.reuters.com   time to read: +2 min
LONDON, July 26 (Reuters) - Consumer companies and economists have said sentiment in China is slower than expected, but that's not stopping them from buying more condoms, Durex maker Reckitt said on Wednesday. British consumer goods giant Unilever (ULVR.L) said on Tuesday that China's declining property market and exports had sent its consumer sentiment to a historic low, having earlier this year forecast a Chinese "consumption boom". Globally, the portfolio grew by high-single digits, and in China Reckitt saw "the benefit of re-opening post COVID-related lockdowns." Reckitt has a new Taicang, China-based production facility, according to its website, set to "produce our thinnest Durex polyurethane condoms ever" for that market. "The site will produce the thinnest Durex PU condoms in history and will be committed to the continuous improvement of new technologies for PU condoms."
Persons: Reckitt, China Reckitt, Nicandro Durante, Richa Naidu, David Evans Organizations: Consumer, Unilever, Thomson Locations: China
☆ Reckitt names Kris Licht as CEO, beats sales estimates
  + stars: | 2023-04-26 | by ( ) www.reuters.com   time to read: +2 min
LONDON, April 26 (Reuters) - Reckitt Benckiser (RKT.L) has named company insider Kris Licht as CEO designate to succeed Nicandro Durante, taking the helm by the end of the year after a transition period. Licht, who has served as president of Reckitt's health business and as chief customer officer since July 2020, will be appointed to the board as an executive director from June 1. Durante, a former BAT (BATS.L) chief executive, will stay with Reckitt until December "to ensure a smooth transition". The company, which makes Durex condoms and Lysol cleaning products, also reported like-for-like net revenue up 7.9% in the first quarter, beating analyst expectations of a 3.6% rise in consensus forecast provided by the company. Reckitt, which also makes Nurofen tablets, cold remedy Lemsip and Dettol hygiene products, now expects like-for-like net revenue growth of 3-5% for the year after beating sales expectations for several quarters in a row, helped by price increases.
☆ Reckitt's sales beat estimates on higher prices, infant formula
  + stars: | 2023-03-01 | by ( Richa Naidu | Thomson Reuters | London-Based Reporter Covering Retail | ) www.reuters.com   time to read: +3 min
LONDON, March 1 (Reuters) - Reckitt Benckiser (RKT.L), maker of Dettol and Lysol cleaning products, on Wednesday marginally beat full-year like-for-like net revenue expectations, helped by higher prices and its nutrition and health businesses. The company said it would target like-for-like net revenue growth of mid-single digits for 2023, excluding the substantial boost its 2022 sales received from the recall of a rival's infant formula. Abbott Laboratories (ABT.N) early last year recalled dozens of infant nutrition products in the United States after customers complained of infants contracting bacterial infections. Reckitt, its biggest rival at the time, ramped up production to fill the supply gap left by Abbott, helping to drive full-year like-for-like net sales growth of about 23% in its nutrition business. The company said full-year like-for-like net revenue increased by 7.6%, edging ahead of analysts' expectations of a 7.5% rise, according to a company-provided consensus.
☆ From condoms to cosmetics, China sales grow as lockdowns end
  + stars: | 2023-03-01 | by ( Richa Naidu Elisa Anzolin Christoph Steitz Jessica Dinapoli | Richa Naidu | Elisa Anzolin | ) www.reuters.com   time to read: +5 min
[1/2] Customers shop at a mall ahead of the Chinese Lunar New Year, in Beijing, China January 15, 2023. REUTERS/Tingshu Wang/File PhotoLONDON/MILAN/FRANKFURT/NEW YORK, March 1 (Reuters) - The world's top consumer and luxury goods companies have seen sales of everything from cosmetics to condoms grow in China since Beijing ended strict COVID-19 curbs, another sign that the world's No. Tourism from China was helping sales in neighbouring Macau, Hong Kong, Taiwan and even Japan, he added. Reckitt Benckiser, which makes Nurofen tablets, cold remedy Lemsip and Durex, saw a pick-up in China after a decline in volumes because of lockdowns. U.S. retailer Walmart Inc (WMT.N), which operates nearly 400 retail and wholesale stores in China, reported strong traffic in its stores since reopening.
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