P&G Begins US Price Increases In Baby And Feminine Care, Could Expand To Health, Beauty
P&G plans up to double-digit price increases in US baby care, feminine care and adult incontinence and will analyze raw material costs and foreign exchange impacts in its other product categories for other pricing changes.
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Raw material supplies slowed during January-March period by catastrophic freeze in Texas and shortage of shipping containers partly due to Suez Canal blockage. "We're absorbing $90 million of incremental costs for the full year,” says CFO Ronald Dierker.
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.
Moeller, CFO since 2009, will retain vice chairman and COO posts and continue heading P&G’s enterprise markets, the firm’s smaller markets,