P&G Slashes Guidance, Promises Sharper Focus, Bigger Innovations
This article was originally published in The Rose Sheet
P&G will launch “bigger” products, pursue a more balanced growth objective, firm says during investor conference June 20, the same day the firm’s stock slipped on slashed guidance for the fourth quarter and fiscal year.
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Kline’s Nancy Mills offers perspective on P&G performance in 2012 when the company saw its market share slip in certain personal-care categories. In her blog post, Mills attributes the erosion in part to the firm’s ongoing $10 billion cost-cutting initiative, which slowed new product introductions and left some brands under-supported in a highly competitive landscape, she says.
P&G is launching multi-benefit, first-to-market skin and hair products anticipated to drive up its U.S. beauty share, CFO Moeller says at the Barclays Back to School Conference Sept. 6. Entries will include eye care under Olay Regenerist and premium-positioned hair-care items.
P&G will roll back about $400 million of the $3.5 billion in pricing increases taken in fiscal year 2012, in an effort to include beauty and health-care products. Beauty sales declined 4% on the year, the firm reported.