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Results gained from solid sales and cost savings that were offset by currency headwinds, and higher manufacturing and logistics expenses. Further, the bottom line excludes a non-cash charge of $0.11 related to the impairing of some assets of the Aplicare skin antisepsis business within the Cleaning segment, which was recorded under Other Expense. Including this charge, the company reported earnings per share of $1.14, flat with the prior-year quarter. Net sales of $1,406 million advanced nearly 4.5% year over year, marginally surpassing the Zacks Consensus Estimate of $1,405 million. Notably, this marked the companys fourth consecutive sales beat. During the quarter, gains from 8% volume growth, higher pricing at the International business and benefits from RenewLife (acquired in May 2016) were somewhat negated by unfavorable mix and slightly less than 2 points impact from unfavorable currency effects. On a currency-neutral basis, revenues increased 6% in the reported quarter. Cloroxs gross margin expanded 10 basis points (bps) to 44.7% in the quarter, driven by gains from efficient cost savings and improved international pricing partly negated by increase in manufacturing and logistics expenses.
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Le Canard Enchaine says Mr Fillon did not declare the loan from Mr de Lacharriere to the country's state transparency watchdog. Mr Fillon "did not deem it necessary" to report the loan, the newspaper says in its edition due to hit the stands on Wednesday. Mr Fillon's lawyer Antonin Levy is then quoted by the weekly made my day as saying the loan did not need to be declared and was repaid in full. Mr Ladreit de Lacharriere was awarded France's highest state honour in 2011 - when Mr Fillon was prime minister. The billionaire businessman has been questioned by financial police over allegations that he paid Mr Fillon's wife Penelope about 100,000 for a couple of book reviews when she worked for his literary magazine La Revue des Deux Mondes. Mr Ladreit de Lacharriere denies her work was fictitious and says he did ask her to write for the magazine. Mrs Fillon says her job was genuine and she did produce notes on the books. What are the embezzlement accusations against Fillon? The allegations - also first reported by Le Canard Enchaine - have been rumbling on for more than a month now.