Walgreens Drug Store Clayton
After getting the green light from Procter & Gamble - Retailer News After getting the green light from Procter & Gamble, retailers have been slashing the price of Crest Whitestrips from its original $40 suggested retail. In its weekly circular that dropped Oct. 27 in New York City, Walgreens advertised Whitestrips priced at $29.99 as the "lowest price ever." That same week, drugstore.com also featured the new low $29.99 price point on its home page.
During a first quarter conference call Oct. 29, P&G executives announced the 30 percent price reduction was in response to growing competition in the whitening segment. Chief financial officer Clayton Daley said he was confident the new price point, hovering in the $24 to $29 range, would improve unit growth while maintaining strong dollar sales growth. Net earnings for its health care business, driven by oral care and million, maceuticals, increased 40 percent to $196 million, reflecting the trend toward high-margin products such as rest Whitestrips, the company noted.
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