P&G Encouraged By U.S. Beauty In Q3; Cost-Cutting Efforts Deliver
This article was originally published in The Rose Sheet
Procter & Gamble is “making progress” in improving its U.S. skin care and Pantene businesses, with both up single digits in the third quarter. U.S. beauty helped buoy net beauty sales for the period, which were flat at $4.69 billion, the firm reported April 23.
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Procter & Gamble Co. announced that its beauty business will revert to a classic brand management structure and leave behind its current system of disaggregated functions. During the CAGNY conference Feb. 20, CEO Lafley said the return to form, in addition to the launch of “consumer-preferred” products, will help P&G win back share lost in recent years.
Procter & Gamble Co. is seeing recovery of its hair-care business after a disappointing fiscal 2013. A new Pantene viral campaign tackling “gender labels” and other marketing efforts are driving momentum in the segment, and the firm is optimistic about its newly launched Old Spice men’s hair-care range.