The Procter & Gamble Company reported second quarter net sales of $22.3 billion for the three months ended Dec. 31, 2013 were unchanged versus the prior year period, according to the company.
“P&G’s second quarter results came in as we expected,” said Chairman, President and Chief Executive Officer A.G. Lafley. “We’re on-track to deliver our objectives of 3-4% organic sales growth and 5-7% core EPS growth for the fiscal year. We expect strong earnings growth in the second half of the fiscal year driven by solid top-line growth, moderating headwinds from foreign exchange, and productivity savings that build throughout the year.”
For the three months ended Dec. 31, 2013, beauty segment organic sales were unchanged as well at $5.3 billion. Gains from market growth and innovation in prestige, hair care, deodorants and personal cleansing, were offset by geographic and product mix and a decrease in skin care sales. Grooming segment organic sales increased 3% to $2.1 billion as higher pricing and innovation on blades and razors and appliances were partially offset by market contraction in developed regions and geographic and product mix.
The health care segment organic sales grew 5% to $2.3 billion due to increases in oral care and personal health care. Fabric care and home care segment organic sales increased 4% to $6.9 billion, with growth in fabric care and home care due to innovation and market expansion in developing regions. The baby, feminine and family care segment organic sales increased 3% to $5.6 billion behind product innovation and baby care market growth in the developing regions.
P&G reiterated its fiscal year 2014 guidance. The company continues to expect organic sales growth of 3-4% for the year.
In other news, Gain recent rolled out single-use pacs for laundry, added sources at P&G.