P&G Raises Outlook After Another Quarter of Strong Sales

Date : 01/23/2019 @ 1:05PM
Source : Dow Jones News
Stock : Procter & Gamble Company (The) (PG)
Quote : 101.81  0.3 (0.30%) @ 7:56PM

P&G Raises Outlook After Another Quarter of Strong Sales

Procter Gamble (NYSE:PG)
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By Aisha Al-Muslim 

Procter & Gamble Co. reported strong quarterly sales growth, continuing a streak of robust gains that prompted the consumer-products giant to raise its outlook for the year.

The maker of Tide detergent and Gillette razors said organic sales -- a closely watched metric that strips out currency moves, acquisitions and divestitures -- rose 4% in the fiscal second quarter. Organic sales were boosted by 1% due to higher pricing.

Beauty products fueled the gains, with organic sales rising 8%, but the company reported growth across a number of categories including health care, and fabric and home care. The growth came from higher consumption and pricing.

The Cincinnati-based company has struggled to boost sales in an industry facing more competition, a consumer shift toward smaller brands, changing tastes and higher costs of raw materials and transportation.

After trying to combat weak demand by lowering prices, P&G changed course late last year, saying it would increase prices for products including its Pampers, Bounty, Charmin and Puffs brands. Other consumer-goods makers have followed P&G's lead on raising prices amid commodity-price increases, foreign-currency fluctuations and a stronger U.S. dollar.

P&G said prices were 1% higher during the quarter. Overall, the price increases appeared to not have had a negative impact on consumption. Shipment volumes rose 2% from a year ago.

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

 

(END) Dow Jones Newswires

January 23, 2019 07:50 ET (12:50 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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