P&G Ups Forecast On Beauty, Health Results, Despite 'A Lot Of Variability'
P&G beauty division's sales grow on premium skin care lines and despite price increases as health care sales grow 5% on volume, particularly in oral care. Net earnings in latest quarter grow 9% to $2.78bn as results prompt investor activity with share price slipping 2.7% in trading at nearly twice average volume.
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P&G reports 4% organic growth in its fiscal 2019 Q2, building on a strong Q1 and prompting it to raise full-year organic guidance 1%. CFO Jon Moeller warns, however, possible market volatility and competitor activity related to potential price increases could sink its positive estimate.
In the six years since Dollar Shave Club’s viral video and pioneering business model upended the men’s razor market, P&G’s grooming business has been scrambling to reestablish itself and win back market share. The division’s first-quarter results suggest that its fresh innovation approach, updated messaging and direct-to-consumer investments are paying off, though significant competitive challenges remain.