LRLCF - Sustainability of strength in staples comes into question

As high-multiple tech stocks have reeled, many investors have understandably fled to safer pastures in consumer staples stocks. Indeed, the staples sector has outperformed for months, with a more pronounced bifurcation in trajectory appearing in recent trading sessions. The sector has clearly benefited both from a broad defensive shift as recession risks loom larger in the minds of investors, as well as solid earnings results from key names within the sector. For example, Procter & Gamble’s (PG) popped on Wednesday after posting organic sales growth above previous forecasts and raising its forecast in the face of lingering inflationary pressures. The resilient results and commentary helped the broader sector bounce, with consumer staples contemporaries like McCormick & Company (MCK), Colgate-Palmolive (CL), Kimberly Clark Corp. (NYSE:KMB), Church & Dwight (CHD), and Clorox (CLX) all moving higher. Meanwhile, solid sales numbers from L'Oreal S.A. (OTCPK:LRLCF) on Monday helped many similar staples stocks like

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Sustainability of strength in staples comes into question