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☆ Procter & Gamble sales disappoint as price hikes slow down
▼ + stars: | 2024-04-19 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

In October, executives said that they anticipated returning to volume growth in fiscal 2024. However, three of P&G's divisions reported volume growth for the quarter. The company's grooming business, home to its Gillette and Venus razors, reported volume growth of 2%. And fabric and home care, which includes Febreze and Swiffer, saw 1% volume growth. That's a reversal from the last two fiscal years, when commodity costs weighed on the company, leading to price hikes.

Persons: Pantene, Gamble, Andre Schulten, Schulten Organizations: Procter, LSEG, Gillette, pricey SK Locations: San Anselmo , California, China, Gaza, U.S

☆ P&G's initial decline had nothing to do with earnings. The market later agreed
▼ + stars: | 2024-04-19 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

For the full year, the overall sales growth rate was reiterated at 2% to 4% as was the organic growth target of 4% to 5%. On the call, Schulten said growth across categories continues to be broad-based with 8 of 10 product categories holding or growing organic sales in this quarter. In North America, organic sales rose 3% on the back of a 3% increase in volume. In Europe, focus markets rose 7% on the back of a 4% increase in volume, and in Latin America, organic sales were up 17% versus the year-ago period. Weakness continued in Greater China, with organic sales declining 10%.

Persons: Dow, Andre Schulten, Schulten, Jim Cramer's, Jim Cramer, Jim, Pantene, Justin Sullivan Organizations: Procter, Gamble, Procter & Gamble, Colgate, Palmolive, Unilever, Management, CNBC Locations: United States, American, North America, Europe, Latin America, Greater China, China, San Anselmo , California

The declines have come from just about every sector, with the exception of technology, which has seen its earnings estimates rise since October 1. A good example: IBM , which beat earnings expectations and highlighted an uptick in demand for artificial intelligence products and services. Outside of technology, earnings expectations are lower than three months ago, but are now rising again. "The market has been anticipating improving earnings expectations, and it's getting them. By that I do not mean that earnings estimates are rising, I mean they are not getting cut as much anymore," Raich added.

Persons: Nick Raich, it's, Raich, Sherwin, Williams, Heidi Petz, Kimberly, Clark, Nelson Urdaneta, that's, shipper J.B, Hunt, John Roberts, McCormick, Gamble, STMicroelectronics, Jim Fitterling, DuPont, hasn't, ASML, Andre Schulten, Baker Hughes Organizations: IBM, Treasury, Scout, Paint Stores, Insurance, Procter, Swift Transportation, Dow Inc, Texas, 3M, Gamble, FedEx, Humana, Adobe, Dupont Locations: Americas, China

☆ P&G's beauty sales hurt by an unlikely headwind: A wastewater release in Japan
▼ + stars: | 2024-01-23 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

While Japan and the United Nations' nuclear watchdog said the move was safe, China retaliated by banning all seafood imported from Japan. Chinese consumers followed with boycotts on Japanese brands, including P&G's SK-II, fearing that their products would be tainted by radiation. While the brand took a hit in the previous quarter, P&G executives said SK-II is already seeing sales turn around. "Our consumer research indicates SK-II brand sentiment is improving, and we expect to see sequential improvement in the back half," CFO Andre Schulten said on the company's earnings conference call. CEO Jon Moeller also reminded investors that previous tensions between Japan and China have hurt SK-II's sales, but the brand always bounced back.

Persons: Gamble, Andre Schulten, Jon Moeller Organizations: Procter, SK, United Nations, G's SK Locations: Greater China, Japan, —, China

☆ P&G to record up to $2.5 bln in Gillette writedown, operations rejig
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

The consumer goods giant said it would take a $1.3 billion non-cash impairment charge before tax in the current quarter ending Dec. 31 on its Gillette business. P&G, which bought Gillette for $57 billion in 2005, gets about 8% of its total sales from the grooming business. "It's very difficult for us as a U.S. dollar-denominated company to create value (in these markets)," Schulten said. Total charges will be between $2 billion and $2.5 billion after tax and will be recognized in fiscal years 2024 and 2025. Net earnings attributable to the company was $14.7 billion for fiscal 2023.

Persons: Timothy Aeppel, Andre Schulten, Morgan Stanley, Schulten, Juveria Tabassum, Sriraj Organizations: Procter, REUTERS, Procter & Gamble, Gillette, Morgan, Thomson, & $ Locations: Tabler Station, West Virginia, U.S, Argentina, Nigeria

☆ How 3 stocks tied to China's economy are navigating its uneven post-Covid recovery
▼ + stars: | 2023-10-30 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

But looking at quarterly numbers and commentary from multinational companies doing business there, the road back for the world's second-largest economy remains uneven. Club name Procter & Gamble (PG) flagged weakness in China when it reported its fiscal first quarter 2024 earnings. SBUX YTD mountain Starbucks YTD Given P & G's remarks, we hope Starbucks is still able to keep its China numbers moving in the right direction. Starbucks' growth in China, its second-largest market after the U.S., is still in its early stages. WYNN YTD mountain Wynn Resorts YTD Commentary from Las Vegas Sands gives us hope that Wynn Resorts might be able to continue last quarter's momentum in gross gaming revenue in Macao.

Persons: China — Estee Lauder, —, Nicolas Hieronimus, Andre Schulten, Let's, Estee Lauder, Lauder YTD, Estee, We're, there's, Wells, WYNN, Wynn, Jim Cramer's, Jim Cramer, Jim Organizations: Starbucks, Wynn Resorts, Vegas Sands, L'Oreal, Procter, Gamble, Deutsche Bank, Wynn, HSBC, CNBC, Wuhan International Plaza, Getty Locations: China, Sands, Macao, Asia, Hainan province, U.S, Dubai, Wynn Macau, Wuhan, Hubei province

☆ P&G tops profit estimates on pricing boost, resilient demand
▼ + stars: | 2023-10-18 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

REUTERS/Timothy Aeppel/File photo Acquire Licensing RightsOct 18 (Reuters) - Procter & Gamble (PG.N) topped market expectations for quarterly sales and profit on Wednesday, benefiting from higher prices as well as steady demand for its personal care products and cleaning supplies. While P&G's moves to consistently raise prices over the past several months have dented sales volumes with some cost-conscious shoppers turning to cheaper alternatives, the benefits from higher prices have helped bolster its profits. Gross margin improved 460 basis points to 52% in the quarter ended Sept. 30 and the company kept its annual profit outlook despite expectations for a $1 billion after-tax impact from unfavorable foreign exchange rates. P&G now expects sales growth to be in the range of 2%-4% for fiscal 2024, compared to its prior estimate of a 3%-4% rise, owing to currency fluctuations. Per-share profit of $1.83 per share also beat expectations of $1.72.

Persons: Timothy Aeppel, Andre Schulten, they're, Jason Benowitz, Deborah Sophia Organizations: Procter, REUTERS, Procter & Gamble, Gillette, Roosevelt, Thomson Locations: Tabler Station, West Virginia, U.S, Bengaluru

☆ P&G flexes its pricing power again in its latest quarter. Wall Street rewards the stock
▼ + stars: | 2023-10-18 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +9 min

P & G's results Wednesday demonstrate that its recent outperformance compared with its staples peers is justified. Quarterly commentary Procter & Gamble delivered on key metrics such as gross margins and organic sales growth. Secondly, excluding declines in China, P & G's volume was up in the rest of the world. Consumers in Western Europe remain relatively resilient, Schulten said, while describing P & G's business in Latin America as "on fire." P & G paid out $2.3 billion in dividends in its fiscal first quarter while repurchasing $1.5 billion worth of common stock.

Persons: Gamble, —, we're, That's, Andre Schulten, it's, Schulten, Jim Cramer's, Jim Cramer, Jim, Joe Raedle Organizations: Procter, Gamble, Wednesday, Dow, Treasury, Walmart, Club, Costco Wholesale, Bunge Limited, Revenue, U.S, Wall, CNBC, Procter & Gamble, Getty Locations: China, U.S, Cincinnati, Western Europe, Latin America, Miami , Florida

☆ Procter & Gamble sales rise slightly, fueled by higher prices
▼ + stars: | 2023-07-28 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

But the company released a gloomy outlook for its fiscal 2024 sales that fell short of Wall Street's estimates. For fiscal 2024, P&G is forecasting that its revenue will grow 3% to 4%, lower than Wall Street's expectations of 4.5% sales growth. For roughly two years, P&G has been raising prices on its products to mitigate higher commodity costs. In fiscal 2024, P&G expects its volume will start increasing again, and prices will only rise 1% to 1.5%. The division, which includes Oral-B and Pepto-Bismol, scared off North American customers with its higher prices, according to P&G.

Persons: Gamble, Andre Schulten Organizations: Procter, Refinitiv, G, Asia Pacific, Gillette Locations: Compton , California, U.S, United States, Europe, Asia, Pacific, China

☆ P&G earns household-staple status
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +2 min

The $356 billion company said on Friday that sales grew 4% year-over-year to $20 billion in the three months ended March 31. That growth was led by a 10% price hike for the second consecutive quarter, while also growing market share in the United States. P&G warned of higher commodities and packaging costs, as well as wage inflation. P&G is proving that the cushy Charmin double roll is irreplaceable. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

SummarySummary Companies P&G beats sales estimates for 12th quarterHiked prices in U.S., Europe again in Jan-MarchShares up 2% premarketApril 21 (Reuters) - Procter & Gamble Co's (PG.N) customers continued to show little resistance to repeated price hikes, helping the Tide detergent maker boost its annual sales forecast and third-quarter margins. But shrinking consumer wallets in the face of high inflation have fanned concerns of how much longer rising prices will be tolerated before triggering a switch to cheaper, private-label brands. The fabric and home-care unit, P&G's biggest segment, saw sales volumes fall 5%, with average price rising to 13%. The company expects fiscal 2023 organic sales growth of about 6%, compared with its previous forecast for a 4% to 5% increase. P&G maintained its annual earnings forecast of flat to a 4% rise.

[1/2] Customers shop at a mall ahead of the Chinese Lunar New Year, in Beijing, China January 15, 2023. REUTERS/Tingshu Wang/File PhotoLONDON/MILAN/FRANKFURT/NEW YORK, March 1 (Reuters) - The world's top consumer and luxury goods companies have seen sales of everything from cosmetics to condoms grow in China since Beijing ended strict COVID-19 curbs, another sign that the world's No. Tourism from China was helping sales in neighbouring Macau, Hong Kong, Taiwan and even Japan, he added. Reckitt Benckiser, which makes Nurofen tablets, cold remedy Lemsip and Durex, saw a pick-up in China after a decline in volumes because of lockdowns. U.S. retailer Walmart Inc (WMT.N), which operates nearly 400 retail and wholesale stores in China, reported strong traffic in its stores since reopening.

☆ P&G, Constellation Brands see solid U.S. demand, even as prices rise — a key reason we're shareholders
▼ + stars: | 2023-02-24 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

Constellation Brands "Consumer demand for our products remains strong even in a challenging macro environment," Newlands said. Procter & Gamble Inflation continues to weigh on consumers and impact global sales volumes at P & G, CFO Andre Schulten said Thursday. P & G last month delivered solid fiscal second-quarter results , in part through raising prices by as much as 10% on some products. Constellation Brands, meanwhile, continues to demonstrate sustained demand for its leading beer brands. Trucks with Constellation Brands Inc. Corona and Modelo beer sit during a delivery in the Zona Rosa neighborhood in Mexico City, Mexico.

☆ CPGs like Coca-Cola, P&G, and Clorox break down their marketing investments as consumers reckon with price hikes
▼ + stars: | 2023-02-21 | by ( Ryan Joe | ) www.businessinsider.com time to read: +4 min

Many CPGs like Coca-Cola, P&G, and Clorox don't intend to increase their current level of marketing. As the economic squeeze continues, CPG brands like Procter & Gamble, Coca-Cola, and Clorox are being ultra-cautious about their marketing spend. Major CPGs spent hundreds of millions, and at times billions, on ads in 2022. Clorox spent $280 million, Coca-Cola spent $646 million, and Unilever spent $746 million according to data from Vivvix, an ad intel platform owned by Kantar, and social data from Pathmatics. Clorox, Coca-Cola, and Unilever didn't respond to a request for comment.

☆ P&G raises sales forecast on price hikes, sees volumes fall
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +3 min

Jan 19 (Reuters) - Tide detergent maker Procter & Gamble Co (PG.N) raised its full-year sales forecast on Thursday and said it plans to continue raising prices despite a drop in sales volumes, warning that high commodity costs were pressuring profits. While the price hikes have been met with less pushback compared to discretionary products, customers have still bought fewer of its products. P&G said organic sales in China, its second largest market, were down 7% due to COVID lockdowns and weaker consumer confidence. P&G said net sales fell 1% to $20.77 billion in the quarter, hurt by the impact of a stronger dollar on overseas revenue but beating Wall Street expectations. It's the first fall in quarterly net sales in a little over five years, according to Refinitiv data.

☆ Procter & Gamble revenue and profit fall as company looks to higher prices to offset declining sales
▼ + stars: | 2023-01-19 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Procter & Gamble reported year-over-year declines in revenue and profit on Thursday, as higher prices struggled to offset declining sales volumes. All of the company's divisions reported declining sales volume in the quarter, despite seeing increases in organic sales as a result of higher pricing. P&G executives noted in a call with media that consumer demand is responsible for at least half the 6% sales volume decrease. But it warned those headwinds would continue to squeeze P&G's gross margins, which saw a 160-basis-point decrease during the second quarter versus a year ago. P&G is doubling down on its price hiking strategy even as shrinking consumer demand continues to erode sales volume.

☆ New hope China may soften on Covid boosts our stocks most tied to world's No. 2 economy
▼ + stars: | 2022-11-04 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

After all, Chinese officials have not announced an official transition away from their very strict Covid policy. Nevertheless, the moves in certain stocks tied to China — including many owned by the Club — show the market is taking the vaccine policy change in stride. The cosmetics giant has a big China business and just a few days ago it cut its sales guidance partly due to China's Covid policy. The price move provided some support for oil stocks in Friday's volatile stock market. It's not immediately clear when expatriates in China could actually start getting a shot of the BioNTech-Pfizer Covid vaccine.

☆ Inflation is dominating the conversation on earnings calls. Here's what execs are saying
▼ + stars: | 2022-10-24 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

One thing's clear at the start of the corporate earnings season: Inflation is still a hot topic for companies. The consumer price index increased 0.4% in September, which was a hotter reading than the 0.3% expected by Dow Jones, according to the Bureau of Labor Statistics. It was at 0.6% without food and energy factored in, which was also above Dow Jones' estimate of 0.4%. That was similarly above the Dow Jones expectation of 0.2%. The company beat earnings per share expectations for the third quarter but revenue came in lower than analysts anticipated.

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