Breaking News

Net Sales Fall 4% at P&G

January 23, 2013

For the fiscal first quarter of 2013, the Procter & Gamble Company reported a 4% slip in net sales to $20.7 billion. However, P&G said it held or grew market share in businesses representing over 45% of sales in the July-September quarter, as measured on a constant currency value basis. In the US market, P&G held or grew value share in businesses representing nearly 60% of sales.

“Our first quarter results put us on track to deliver our commitments for the fiscal year. Results were at the high end of expectations on the top line and ahead of plan on operating profit, earnings per share and cash,” said Bob McDonald, chairman, president and chief executive officer. “We are continuing to focus on executing our growth and productivity strategy—maintaining momentum in developing markets, strengthening our core developed market business, building a strong innovation pipeline, and aggressively driving cost savings and productivity improvements. We’re confident that this strategy will enable P&G to generate superior levels of shareholder return in both the short- and long-term.”

In the Salon Professional and Prestige businesses, organic sales increased versus the prior year driven by strong innovation within the Wella, Dolce & Gabbana and Gucci brands. Hair care and beauty care sales were down on both an all-in and organic basis due to negative foreign exchange impacts and market share softness resulting from high levels of competitive activity.

Shave care organic sales increased versus the prior year as solid growth in developing markets behind Fusion ProGlide and Prestobarba innovation and market expansions were partially offset by market contraction in Western Europe.

Oral care organic sales grew as price and mix benefits more than offset lower volume levels in North America and Greater China; while fabric care organic sales increased low single digits due to positive pricing and product mix from initiatives such as Tide Pods in the US, home care delivered higher organic sales, led by growth of the Cascade, Dawn and Fairy dish care brands and Febreze and Ambi Pur air care brands. All-in sales were down in fabric care and in home care due to significant negative impact from foreign exchange.

P&G maintained its organic sales growth guidance in the range of 2-4% for the fiscal year.
  • The Good, The Bad Can Get Ugly

    The Good, The Bad Can Get Ugly

    March 28, 2017
    If you are what you eat, you may really be in trouble!

  • It’s Magic!

    It’s Magic!

    Melissa Meisel, Associate Editor||March 20, 2017
    Argan oil-infused ‘Moroccan’ lip care brand jumps from WholeFoods into CVS.

  • On the Cutler Edge

    On the Cutler Edge

    Melissa Meisel, Associate Editor||March 13, 2017
    Top brand source at Redken forecasts up-to-the-minute hair trends.

  • Supply-Side Innovations

    Supply-Side Innovations

    Tom Branna, Editorial Director||March 1, 2017
    Raw material suppliers roll up their sleeves and roll out their new products for the global cleaning industry.

  • New Faces in Familiar Places

    New Faces in Familiar Places

    Tom Branna, Editorial Director||March 1, 2017
    The American Cleaning Institute officially welcomed its new president.

  • Special Delivery

    Special Delivery

    Tom Branna, Editorial Director||March 1, 2017
    UV protection is important, but what good is that sunscreen if consumers won’t apply it?