Procter Gamble (NYSE:PG)
Historical Stock Chart
2 Months : From Jan 2019 to Mar 2019
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 firstname.lastname@example.org
(END) Dow Jones Newswires
January 23, 2019 07:50 ET (12:50 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.