Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Target Corporation    TGT

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 
The feature you requested does not exist. However, we suggest the following feature:

Target : Jessica Alba's Startup Pulls Bottles of Dish Soap That Were Underfilled

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/23/2017 | 09:30pm CET
By Serena Ng 

Target Corp. and other retailers in recent months stopped selling a popular household cleaner from Jessica Alba's Honest Co. after learning the product contained less liquid than its label claimed.

Honest dish soap was sold in bottles stating they contained 26.5 fluid ounces and had been on the market for several years. The bottles actually contained 24 fluid ounces of cleaner, or roughly 10% less liquid, according to people familiar with the matter.

A spokeswoman for Honest said the company notified retailers and distributors to remove the products from their shelves as soon as it became aware of the issue. The company is rolling out new dish soap in revised packaging with labels stating the bottles contain 24 fluid ounces.

The label was changed "to eliminate a small inconsistency between physical fill volume and labeled fill volume," the Honest spokeswoman said. She declined to say how many bottles were affected or the cost of the change, but said Target and other retailers have reordered the product. A Target spokeswoman referred questions to Honest.

Honest sells cleaning, baby and personal care products under its own brand. The Los Angeles company outsources manufacturing to dozens of suppliers, and has rapidly expanded sales and its range of products. The company last week named a new chief executive and said it generated $300 million in revenue in 2016.

Dish soap was one of Honest's first products when the company opened for business in 2012. It was originally priced at $5.95 for a 16-ounce bottle, and Honest dropped the price to $3.95 for the larger bottles.

Some companies in the consumer products industry have in the past grappled with what is known as "underfilling" -- when packages contain less than what their net weight or volume state. In 2015, the maker of StarKist canned tuna agreed to pay $12 million to consumers to settle lawsuits that claimed false advertising and alleged its 5-ounce cans of tuna contained less fish than regulatory minimums. StarKist denied underfilling its products but settled the case to avoid the costs of continuing the lawsuit.

Underfilling products is "a real issue" that companies take seriously, says Dale Giali, a lawyer at Mayer Brown LLP who works with consumer companies.

The Wall Street Journal reported last fall that Honest is reformulating its line of cleaning products and planning to roll out new packaging for its laundry detergent, dish soap and other products later this year. One goal of the changes is to remove an ingredient that has created controversy for the company.

Two independent laboratory tests commissioned by the Journal last year found that samples of Honest laundry detergent contained significant amounts of sodium lauryl sulfate. Bottles of Honest laundry detergent and its dish soap claim the products are free of SLS, the acronym for the cleaning agent.

Honest last year disputed the Journal's lab findings and said it used an alternative cleaning agent called sodium coco sulfate, which chemists said contained significant amounts of SLS. The company's reformulated detergents will no longer contain sodium coco sulfate.

Several plaintiffs' lawyers last year filed lawsuits against Honest over its cleaning-products labeling, claiming it misled consumers who had purchased the products. Honest earlier this year agreed to settle the lawsuits, according to court filings. The details of the settlement, including the amount Honest will pay, aren't yet public.

Write to Serena Ng at serena.ng@wsj.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on TARGET CORPORATION
03/23DJTARGET : Jessica Alba's Startup Pulls Bottles of Dish Soap That Were Underfilled
03/22 SEARS : Hard times for Sears as retailer notes doubt about future
03/21 General Mills' inability to cut prices eats into sales
03/21 STOCK OPTIONS TRADES : Cliffs Natural Resources, Deutsch Bank, Disney, Starbucks..
03/21 TARGET : Reveals Design Elements of Next Generation of Stores; First fully reima..
03/21 TARGET : revamps stores for customers in a rush
03/21 TARGET : names longtime Kroger executive Jeff Burt head of groceries
03/21 MACY : Residents share memories of Macy's - and Hudson's - in wake of Eastland s..
03/20 TARGET : Reveals Design Elements of Next Generation of Stores
03/20 TARGET : revamps stores for those in a rush, those who ramble
More news
Sector news : Discount Stores - NEC
03/21DJCOSTCO WHOLESALE : A Big Battle Over Little Golf Balls -- WSJ
03/20DJCOSTCO WHOLESALE : Sues Titleist In Battle Over Golf Balls
03/16 Dollar General looks to fortify strong sales growth with pay hikes
03/16DJDOLLAR GENERAL : Beats Same-Store Sales Estimates -- Market Talk
03/16DJWAL MART DE MEXICO B DE C : Walmex Boosts Capital Spending -- WSJ
More sector news : Discount Stores - NEC
News from SeekingAlpha
02:05p 10 High-Yield Dividend Aristocrats Worth Considering
03/23 TARGET CORP : Bullseye
03/22 Reduce Your Entry Price Into Target By 8%
03/22 Target's Dividend Yield Is Attractive But Its Growth Won't Be
03/22 Weakening Wednesday - Trump Agenda Begins To Unravel
Advertisement
Financials ($)
Sales 2018 68 780 M
EBIT 2018 3 901 M
Net income 2018 2 226 M
Debt 2018 10 111 M
Yield 2018 4,56%
P/E ratio 2018 13,34
P/E ratio 2019 13,44
EV / Sales 2018 0,57x
EV / Sales 2019 0,58x
Capitalization 29 369 M
More Financials
Chart TARGET CORPORATION
Duration : Period :
Target Corporation Technical Analysis Chart | TGT | US87612E1064 | 4-Traders
Full-screen chart
Technical analysis trends TARGET CORPORATION
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 29
Average target price 62,4 $
Spread / Average Target 17%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Brian C. Cornell Chairman & Chief Executive Officer
John J. Mulligan Chief Operating Officer & Executive Vice President
Catherine R. Smith Chief Financial Officer & Executive Vice President
Michael E. McNamara Chief Information Officer & Executive VP
Roxanne Schuh Austin Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
TARGET CORPORATION-26.43%29 369
COSTCO WHOLESALE CORPO..4.24%73 259
WAL-MART DE MEXICO S A..13.87%38 579
DOLLAR GENERAL CORP.-6.98%19 035
DOLLARAMA INC0.27%8 483
VIPSHOP HOLDINGS LTD -..25.34%8 093
More Results