After 5% Sales Growth In Its FY 2020, P&G Bullish For 2021 Despite Looming Economic Threats
Macro factors that could hamper results include the economic recession caused by businesses’ reactions to novel coronavirus pandemic, the impact of COVID-19 on consumer buying trends and disruptions to supply chains.
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Colgate won’t provide full-year 2020 guidance even as the company reports 5.5% organic growth in the second quarter. Its sales in North America grew 24% on pandemic-related purchasing and price increases.
Fabric & Home Care sales jumped 11% for the quarter, and Baby, Feminine & Family Care, 3%, reflecting consumer priorities during the COVID-19 pandemic. Beauty, impacted by travel retail’s nosedive, and Grooming, something consumers are doing considerably less of at home, were less impressive, but the units still grew in fiscal 2020 overall.
P&G reported personal health care brands drove overall health care organic sales up 9% to $2.26bn in its latest quarter. CFO Jon Moeller says consumer stockpiling caused production acceleration as its five largest North American plants in March increased production 22% over monthly average for previous year.