Kenvue Cuts Outlook on Weak Demand as Brand Review Continues

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.