P&G Rekindles Old Flame, Confirms Sales Target

2007-06-06 | 11:40

P&G Rekindles Old Flame

Procter & Gamble is selling candles again, nearly 90 years after the rise of electric lighting forced the company to stop making them. This time around, the company says its candles will do more than just light a room. Using new technology, P&G claims they will trap bad odors and fill a room with fragrance. Candles are the latest addition to P&G’s Febreeze line of room sprays and plug-in deodorizers—the latest experiment in brand extension.

The company also announced that it is also on target to meet its financial outlook for fourth quarter 2007. P&G confirmed its prior sales and earnings guidance is in line with Wall Street expectations for a sales growth of 6%-7% for the quarter, which ends June 30.