12.05.18
Propelled by a 5% gain in beauty sales, Procter & Gamble reported flat numbers for the first quarter of fiscal 2019. The company said skin and personal care organic sales increased double digits due to premium innovation, increased marketing investments and positive product mix from the disproportionate growth of the super-premium SK-II brand and Olay skin care, which each grew strong double-digits. Personal care products, including Safeguard, Old Spice, Olay and Secret, delivered mid-single-digit growth. Hair care organic sales increased low single digits due to increased pricing, innovation and improved retail executions.
Corporate net sales in the first quarter of fiscal year 2019 were $16.7 billion, in-line with the prior year.
“We generated strong consumption, organic volume and organic sales in the first quarter. This keeps us on track to deliver our top- and bottom-line targets for the fiscal year,” said David Taylor, chairman, president and chief executive officer. “Our focus on superiority, productivity and improving P&G’s organization and culture is driving improved results.”
Fabric and home care sales rose 2% (5% organic). P&G said organic sales increased mid-single digits driven by innovation and strengthened merchandising programs. Home care organic sales increased mid-single digits driven by innovation and improved retail executions.
In other sectors, grooming segment organic sales increased 4%. Shave care organic sales increased mid-single digits driven by improved consumer value, product innovation, investments in direct-to-consumer programs and increased pricing in certain markets, partially offset by negative mix.
Health care segment organic sales increased 4%. Oral care organic sales increased low single digits due to innovation and increased merchandising investments. Personal health care organic sales increased double digits due to innovation, increased merchandising investments and price increases.
Fabric and home care segment organic sales increased 5% for the quarter. Fabric care organic sales increased mid-single digits driven by innovation and strengthened merchandising programs. Home care organic sales increased mid-single digits driven by innovation and improved retail executions. Meanwhile, baby, feminine and family care segment organic sales fell 1%.
P&G is maintaining its guidance for organic sales growth in the range of 2-3% for fiscal 2019.
Corporate net sales in the first quarter of fiscal year 2019 were $16.7 billion, in-line with the prior year.
“We generated strong consumption, organic volume and organic sales in the first quarter. This keeps us on track to deliver our top- and bottom-line targets for the fiscal year,” said David Taylor, chairman, president and chief executive officer. “Our focus on superiority, productivity and improving P&G’s organization and culture is driving improved results.”
Fabric and home care sales rose 2% (5% organic). P&G said organic sales increased mid-single digits driven by innovation and strengthened merchandising programs. Home care organic sales increased mid-single digits driven by innovation and improved retail executions.
In other sectors, grooming segment organic sales increased 4%. Shave care organic sales increased mid-single digits driven by improved consumer value, product innovation, investments in direct-to-consumer programs and increased pricing in certain markets, partially offset by negative mix.
Health care segment organic sales increased 4%. Oral care organic sales increased low single digits due to innovation and increased merchandising investments. Personal health care organic sales increased double digits due to innovation, increased merchandising investments and price increases.
Fabric and home care segment organic sales increased 5% for the quarter. Fabric care organic sales increased mid-single digits driven by innovation and strengthened merchandising programs. Home care organic sales increased mid-single digits driven by innovation and improved retail executions. Meanwhile, baby, feminine and family care segment organic sales fell 1%.
P&G is maintaining its guidance for organic sales growth in the range of 2-3% for fiscal 2019.