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.
You may also be interested in...
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.
The beauty giant says it is selling its Professional Beauty and retail hair-care businesses to global investment firm KKR and targeting $700m in cost reductions over the next two and a half years. Coty already was in transformation mode prior to COVID-19, which drove a 23% decline in its third-quarter net sales, and it does not expect revenue levels to normalize anytime soon.
Plaintiffs allege that Coppertone sunscreens are deceptively labeled as “mineral-based” when they contain a larger percentage of chemical active ingredients than mineral active ingredients. On 31 July, California’s Northern District roundly rejected defendants’ motion to dismiss.