P&G’s Fourth Quarter Held Back By Grooming, Beauty, While Fabric & Home Care Cleans Up
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.
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Head & Shoulders airing a 30-second TV spot featuring Kansas City Chiefs quarterback Patrick Mahomes and former Pittsburgh Steelers safety Troy Polamalu competing over who gives “100%” effort in everything they do.
After reporting 6% organic growth for fiscal 2020, ended on 30 June, P&G’s increasingly health, hygiene and cleaning-focused business is still going strong, CFO Jon Moeller said at the Barclays Global Consumer Staples Conference. While uncertainties abound, P&G remains confident in its strategy, portfolio and long-term prospects.
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.