12:01 pm Clorox Wipes Itself Clean of Venezuela
Consumer products company Clorox (CLX 96.33, +5.76) is exiting its Venezuela business... and investors are cheering the news. That segment only accounted for 1.4% of total sales in the company's latest fiscal year ended in June, yet it accounted for a much larger portion of operational headaches given the government's price fixing in the face of triple-digit inflation. Shares of CLX are up 6.4%.
Clorox finally conceded that the situation had become untenable. The Venezuelan government allowed price increases this year but …More