Kenvue Inc. slashed its full-year sales target as demand continued to deteriorate and the company searches for a new chief executive officer to help reset the business.
Organic sales are now seen falling by a low-single digit percentage this year, the company said in a statement. It previously expected growth of as much as 4%, while analysts had projected 0.2% expansion. The Tylenol-maker announced organic sales shrank 4.2% last month, more than four times steeper than expected, according to Bloomberg Intelligence analyst Diana Gomes.
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