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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On a “strong first half of the base,” P&G increased FY2021 guidance for organic sales growth and core earnings per share despite a “sequential deceleration” in US consumption in its categories in December and so far in January.
“There’s a heightened need for products that deliver against health, hygiene and clean home concerns and a willingness to spend just a little bit more to ensure that I’m using a product that I know and trust,” says CFO Jon Moeller
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.