Colgate-Palmolive Records $518M Filorga Impairment, Launches Global Savings Initiative
Executive Summary
Colgate-Palmolive’s 2022 Global Productivity Initiative should result in annualized pre-tax savings in the range of $90m to $100m, the New York firm said in its fourth quarter earnings presentation on 28 January. The Filorga impairment charge reflects the pandemic’s impact on duty-free and travel retail channels since Colgate acquired the France-based, premium skin-care brand in 2019 for nearly $1.7bn.