Get ready for the $10 tube of toothpaste.
Highlights
- Colgate-Palmolive CEO Noel Wallace said Colgate’s new Optic White Pro Series toothpaste is the type of premium product “vital” to its ability to raise prices.
- Some lawmakers and consumer advocates argue that companies are excessively raising prices in order to fuel profits and return money to shareholders.
- Target said on Tuesday in an earnings call that bumping up pricing is the last lever it pulls when faced with increased costs.
- Retailers like Walmart and Target are mostly going along with them, though they are still trying to undercut rivals and protect their market share when possible.
- The White House is targeting corporate profits as it grapples with inflation.