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PGs Sales Rise 3 In Fiscal 2010



Published October 5, 2010
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P&G’s Sales Rise 3% In Fiscal 2010

The Procter & Gamble Company (P&G) reported that net sales grew 5% to $18.9 billion for the fourth quarter and 3% to $78.9 billion for fiscal 2010.

“We are executing on all three dimensions of our growth strategy—touching and improving more consumers’ lives, in more parts of the world, more completely,” said chairman of the board, president and chief executive officer Bob McDonald. “Our results in fiscal 2010 were ahead of our original expectations, and we are pleased with the trend of the business. The investments we’ve made in innovation, marketing support and consumer value have delivered accelerating unit volume and profitable market share growth throughout the year, which are clear indications that our strategy is working.”

All geographic regions contributed to volume growth, led by high-single-digits growth in the Asia and Central and Eastern Europe/Middle East/Africa (CEEMEA) regions. Unit volume increased in five of six reportable segments behind key initiative launches such as Head & Shoulders Scalp Care, restages of Pantene, Pantene Protect & Care, Olay Regenerist Eye Roller, Olay Men Solutions, Gillette Fusion ProGlide, Gillette ProSeries, Crest 3D White, Oral-B Pro Health toothpaste, Tide Stain Release, Ariel with Actilift, Bounce Dryer Bar, Tide Naturals, Sarasa and Febreze Home Collections, the company said.

Net sales are expected to increase 2% to 4% in fiscal 2011. First-quarter net sales growth is estimated between 1% and 3%, according to the company.



Sales Jump 2.9% At Church & Dwight
Church & Dwight Co., Inc. reported that net sales for the quarter ended July 2, 2010 increased 2.9% to $640.9 million.

“We are pleased with our second quarter business results in what continues to be a difficult economic and competitive environment,” commented James R. Craigie, chairman and chief executive officer. “Consumer appeal for our high-quality premium and value-oriented products continues to be strong. The weak economic environment continues to favor our value brands. Our outstanding new products launched this year have resulted in distribution gains across our key categories.”

Craigie cited new products such as Arm & Hammer Power Gel Laundry Detergent as beneficial to the quarter’s results.



First Half of 2010 Favorable For Physicians Formula
Physicians Formula Holdings, Inc. posted mixed financial results for the three and six months ended June 30, 2010.

Net sales fell 1.4% to $20.8 million for the second quarter. The company noted that the prior year period included $0.9 million of net sales to a customer that discontinued its products in the second quarter of last year.

However, net sales for the first six months of 2010 increased 6.1% to $43.7 million, the company said.

Based on retail sales data provided by ACNielsen, the company’s approximate share of the masstige market was 6.7% for the 52 weeks ended June 12, 2010 compared to 7.9% for the same period in the prior year. This represents a 16% decline in dollar sales compared to a decline of 1% for the overall masstige market during this period, or a 15% decrease in the company’s share of the masstige market.

Ingrid Jackel, chair and chief executive officer of Physicians Formula, noted, “Market share in the key strategic cosmetics segments of mineral makeup, bronzers, face powders, masstige eye makeup and natural organic eye makeup were all higher during the most recent 12 week period than they were during the last 52 week period, as measured by ACNielsen retail sales data ending June 12, 2010, excluding the sales to the customer that discontinued us in 2009. This suggests we are gaining share momentum in our strategic areas of focus, and this is being driven by the strong performance of our 2010 new products.”



Estée Lauder’s Annual Sales Jump 6% in 2010
The Estée Lauder Companies Inc. reported its latest financial results for the fourth quarter and fiscal year ended June 30, 2010.

For the year, net sales increased 6% to $7.8 billion. In fiscal 2010, the company generated its largest full-year increase in operating income and operating margin since becoming a public firm in 1995.

“In fiscal 2010, we surpassed our own financial goals. In this first full year of our long-term plan we made substantial progress advancing our strategic goals and aligned many facets of our company to continue to achieve sustainable, profitable growth,” said Fabrizio Freda, president and chief executive officer.

“Throughout the year,” Freda continued, “as we implemented our plan, we were able to raise our financial targets for fiscal 2010. We successfully launched initiatives on our biggest brands, took advantage of improving retail environments, saw international passenger traffic pick up, which helped the strong growth in our travel retail business, and realized greater-than-expected cost savings. We generated an impressive performance in our international business and produced strong sales growth in skin care, both of which are key areas of our strategic focus.”

Looking at fiscal 2011, Freda said the firm intends to build upon the solid foundation it established this past year to achieve its strategic and financial goals.

The company posted sales gains in each of its geographic regions and most major product categories. Strong sales growth came from its international businesses, particularly in travel retail, Asia/Pacific and emerging markets. Modest sales gains were reported in the Americas.

In skin care, net sales in Asia/Pacific and Europe, the Middle East & Africa grew double digits, while the Americas had a mid single-digit gain. Across each region, the Estée Lauder brand had strong sales from the recent launches of Advanced Night Repair Synchronized Recovery Complex, Advanced Night Repair Eye Synchronized Complex and Hydrationist Maximum Moisture Crème and Lotion.

Also contributing to the increased sales were the successful introductions of Even Better Clinical Dark Spot Corrector, Youth Surge Night Age Decelerating Night Moisturizer and Even Better Skin Tone Correcting Moisturizer SPF 20 from Clinique. The Regenerating Serum, a new product from La Mer, as well as other successful products from La Mer, also contributed incremental sales, the company said.

Makeup net sales posted strong gains in Asia/Pacific and Europe, the Middle East & Africa. Sales in the Americas declined, primarily reflecting lower sales of Prescriptives products due to the brand’s exit from global wholesale distribution.

The majority of the sales increase came from the company’s makeup artist brands. The higher makeup sales also reflected increases across a broad range of products, such as the recent launches of Even Better Makeup SPF 15 and Superbalanced Powder Makeup SPF 15 from Clinique and Resilience Lift Extreme Radiant Lifting Makeup SPF 15 from Estée Lauder, as well as higher sales of Estée Lauder Double Wear Foundation.

Net sales of fragrance products decreased, largely due to lower sales of certain designer fragrances, including DKNY Delicious Night, Hilfiger Men, Sean John Unforgivable Woman, Sean John Unforgivable and DKNY Men. Also contributing to the decrease were lower sales of Estée Lauder Sensuous and Clinique Happy. Partially offsetting these declines were the recent successful launches of Pure DKNY in Europe, Very Hollywood Michael Kors in the U.S. and DKNY Delicious Candy Apples, as well as higher sales of DKNY Be Delicious Fresh Blossom.

Hair care net sales increased due to certain styling and color products, the recent launches of Smooth Infusion Glossing Straightener and Control Force from Aveda and expanded international distribution at Aveda, the company said.

For the three months ended June 30, 2010, the company reported a 9% increase in net sales to $1.84 billion. Net sales grew in the skin care, makeup and hair care categories, which more than offset a modest decline in fragrance.

For 2011, net sales are forecasted to grow between 6-8%, according to the company.



Alberto Culver Is Going Strong
Alberto Culver Company, manufacturer and marketer of beauty care brands including TreSemme, Alberto VO5, Nexxus, St. Ives, Simple and Noxzema, posted strong results for the third quarter ended June 30, 2010.

President and chief executive officer V. James Marino said, “I am very pleased to report an exceptionally strong quarter of sales and earnings growth in both our U.S. and international segments. Despite challenging economic conditions and soft category growth rates, we continue to outperform the hair care category and gain market share.”

Net sales for the third quarter increased 18.8% to $417.6 million.

In the U.S., sales increased 12.7% due to strong growth in several of the company’s core beauty care brands behind effective marketing and promotional activity, according to the company. International sales on a reported basis increased 29%, primarily behind strong TreSemme growth.

Net sales for the nine-month period increased 11.1% to $1.17 billion.



Parlux Anticipates Growth
Parlux Fragrances, Inc. released results for the quarter ended June 30, 2010. Net sales rose 2% to $24.1 million, the company said.

Frederick E. Purches, chairman and chief executive officer, commented, “We were able to increase our sales in this quarter despite the inclusion of $11.8 million of Guess product sales in the prior year. Although we expect total sales in the next two quarters will be negatively impacted in comparison to the prior year (ceasing the sale of Guess), we anticipate growth in existing brands in this fiscal year.”

Purches continued,“Of special significance was our return to profitability. This was basically due to careful cost control, as operating expenses were reduced by $3.6 million or 21% compared to the same prior year period.”



Anti-Aging Fuels Nu Skin
Nu Skin Enterprises, Inc. posted record quarterly results, with a 20% rise in revenue of $388.4 million for the second quarter.

“The introduction of our breakthrough AgeLoc skin care system has been a huge success around the world, generating $150 million of revenue in the past three quarters,” said Truman Hunt, president and chief executive officer. “We continue to build tremendous energy within our distributor force, as demonstrated by a 15% quarterly growth rate in executive distributors. In addition, our continued focus on operational efficiency resulted in a record 15.2% operating margin for the quarter, evidence of our ability to leverage revenue growth to improve profitability.”



Blyth Adjusts Its Outlook
Blyth, Inc. reported that net sales for the second quarter ended July 31 declined approximately 9% to $180.6 million.International sales represented 39% of total sales in the second quarter both this year and last year, according to the company.

However, the multi-channel designer and marketer of home fragrance, home decor products and household convenience items increased its outlook for 2011.

Management also updated its expectations for cash flow from operations to approximately $55 million from previous guidance of $60 million.The decline is due to an anticipated increase in working capital. Capital spending remains at approximately $10 million for 2011.


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