The company’s performance was due to solid overall business, particularly from its largest brands. The company generated local currency sales gains in each of its product categories and geographic regions.
Sales growth was particularly strong in the US and overall in emerging markets, along with solid gains in certain developed countries.
During the quarter, the company said it made substantial progress on its previously stated strategic goals, with a strong improvement in cost of sales and operating expenses as a percentage of net sales.
All product categories and geographic regions benefited from company-wide efforts to reduce or eliminate non-value-added costs.
In connection with the long-term strategic plan and certain ongoing initiatives, the company realized savings of $17 million during the quarter.