Procter & Gamble
This article was originally published in The Rose Sheet
Executive Summary
Third quarter (ended March 31) sales were ahead 1.2% to $7.44 bil., the company announced April 27. Pretax profit increased 20% reflecting "our cost reduction programs along with solid unit volume gains in the U.S. and a continued double-digit volume growth rate in our international operations," the firm said. Excluding the impact of unusual terms -- a $102 mil. loss related to the close-out of two interest rate swap contracts during the recent three months and charges of $200 mil. and $925 mil. for the divestiture of P&G's juice business and changes in accounting standards, respectively, taken last year -- net earnings were up 16.3% to $584 mil. Including extraordinary items, net earnings fell 4% to $482 mil. A shareholder lawsuit related to the derivatives loss was filed April 26 in the Hamilton County Common Pleas Court in Ohio. The suit names several P&G executives. P&G announced the derivatives charge April 12 ("The Rose Sheet" April 18, in Brief)
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Marketing In Brief
ModiFace launches forecasting tool: Toronto-based virtual makeover firm introduces ShadeCast, a makeup sampling and forecasting tool based on behavioral tracking. ShadeCast is used in conjunction with iPhone application MakeUp, which allows consumers to virtually try on makeup in hundreds of shades from brands including Revlon, Cover Girl, Lancome and Clinique. ShadeCast offers 1,000 cosmetic shades from 40 brands and assigns a ShadeScore "to approximately position the [app's] hottest and most sampled color." ModiFace exec Nikkie Gatto likens the app to radio music playlists, helping consumers "looking to capture the current look, but also provide vital market intelligence to our retail channel partners," she says in Nov. 3 release. "The value of data to demonstrate the aggregate behavior will help the industry predict the latest trends and help cosmetic manufacturers better understand the color and products which most resonate with online and iPhone virtual makeover users," the company says