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Investing.com -- Kenvue Inc (NYSE:KVUE) (NYSE:KENV) shares tumbled 5.3% following remarks from CEO Thibaut Mongon at the dbAccess Global Consumer Conference, which highlighted challenges facing the company. Mongon indicated that seasonal demand for allergy and sun care products has not met expectations this year, attributing the lag to a longer winter that delayed the onset of spring into the second quarter.
The CEO’s comments suggest that the allergy product segment is experiencing a slower start to the season, which could be a contributing factor to the stock’s decline. Additionally, Mongon addressed the impact of US retailers’ de-stocking, citing the current tariff environment as a source of uncertainty that led to immediate actions by retailers. This situation has resulted in shipments trailing consumption for the quarter, a trend that was not evident in the first quarter.
Kenvue’s performance is also being affected by broader consumer pressures that are consistent across different geographies, though the reasons may vary. This acknowledgment of a consumer base facing pressure could further influence investor sentiment.
The company’s stock movement reflects concerns over the delayed seasonal demand and the broader implications of a challenging retail and tariff environment. These factors are essential for investors to consider as they assess the health and prospects of Kenvue in the near term.
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