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Clorox Issues in Venezuela Kill Quarterly Sales Growth


Shares of Clorox are in focus on Friday after the household cleaning products company posted earnings below expectations due to sluggish demand and currency issues. Clorox earned $1.30 a share, 5 cents below expectations and also down from last year's earnings of $1.38 a share. Revenue of $1.5 billion was roughly the same as expectations and last year's fourth quarter. Clorox expects fiscal 2015 earnings to be between $4.35 and $4.50 a share and sales growth to be between 1% and 3%. Issues in Venezuela due to price fixing on Clorox products, and double digit inflation, brought sales growth down by 2%. Shares of Clorox are down 5% for the year. Whalen MacHale reports for TheStreet from New York.