Procter & Gamble's (PG) stock rose around 5% after the company reported strong quarterly sales and raised its 2019 guidance.
P&G's organic sales rose 4% last quarter from the same time last year, led by 8% growth in its beauty division for brands like SK-II and Olay. P&G's fabric and home care division, which accounts for more than 30% of the company's sales, grew 6%.
P&G's digital sales increased 30%. The company's push on natural and organic products like Pampers Pure diapers, Burt's Bees toothpaste and Native deodorant helped growth.
Grooming continues to be a weak spot for P&G. Sales fell 3% last quarter.
P&G has lowered the cost of Gillette razors to match Dollar Shave Club, but said "heightened competitive activity" contributed to the slowdown last quarter. Gillette razor sales are also falling because more men are growing beards.
On a media call, P&G CFO Jon Moeller said the recent Gillette ad about "toxic masculinity" had been effective.
"We’ve received unprecedented levels of both media coverage and consumer engagement in that campaign," he said. "It’s a part of our effort to connect more meaningfully with younger consumer groups."
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