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calendar effects

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calendar effects
The impact a particular day, week, or month a security is owned has on rates of return. For example, studies indicate tax selling produces downward pressure on stock prices during the end of the calendar year followed by upward price pressure in January. See also January effect.
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Adjusting for both the foreign exchange and calendar effects, the Company estimates that first quarter organic sales growth was approximately 4%.
Church & Dwight Reports First Quarter Results by Business Wire
secondly, we expect leading brand growth of some 4 to 5%, consistent with our plan for the year, but reflecting a reduction equivalent to 200 bps in the quarter primarily related to calendar effects, which reverse later in the year.
Unilever Teleconference Presentation; Unilever Remains Comfortable ... by Business Wire
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