Lululemon Athletica Inc. slumped to the lowest level in three years after the yogawear retailer cut its full-year earnings forecast as it looks to expand into international markets and recover from a product recall.
Kao Corp., Japan’s biggest maker of toiletries, said it would lose 6 billion yen ($61 million) of operating profit this fiscal year after it recalled whitening products that caused skin blotches to more than 2,000 customers.
Product recall notices are a fact of life for consumer-product makers. Dysfunctional hinges trap tiny fingers; undesirable fluids leak into foodstuffs; and sticky accelerator pedals send cars zooming in mysterious ways, forcing manufacturers into costly withdrawals.
New Zealand’s Fonterra Cooperative Group Ltd, the world’s biggest dairy exporter, will appoint a food safety director and strengthen product recall systems after a contamination scare dented the company’s reputation in China.
Danone, the world’s biggest yogurt maker, canceled its supply contract with New Zealand’s Fonterra Cooperative Group Ltd. and said it’s seeking compensation for last year’s product recall over a contamination scare.
Toyota Motor Corp.’s Camry has outrun a recession, recalls and natural disasters to stay America’s best-selling car for more than a decade. Odds are worsening that it can keep the title next year as challengers gear up for another run at topping the mild-mannered sedan.