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P&G Sales Stay Sluggish as Restructuring Continues, Chairman to Retire
Organic revenue was unchanged as flat volume and weaker consumer demand offset a 2% rise in net sales, the company said.
- On Wednesday, Procter & Gamble reported fiscal fourth-quarter net sales of $21.2 billion, falling short of Wall Street expectations as weak consumer demand and flat volume growth weighed on results.
- One year into its restructuring plan, the Cincinnati-based company has yet to improve sales performance, with organic sales growth slowing to 1% last year, down from 2% previously.
- While the beauty division posted 3% volume growth and fabric care rose 1%, health care volume fell 3%, with grooming and baby, feminine, and family care each declining 1%.
- Shares fell more than 3% in premarket trading as the company announced CEO Shailesh Jejurikar will become chair of the board, effective Aug. 1, succeeding Jon Moeller.
- Despite an expected 8% drag on earnings per share in fiscal 2027, CEO Shailesh Jejurikar characterized the past 12 months as "foundation building" and expects results to improve.
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Procter & Gamble had a fall in profit in the most recent quarter, pressed by higher costs and low sales, which affected its final result. Exclusive material for subscribers. To have full access, access the link of the material and register.
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Total News Sources11
Leaning Left1Leaning Right2Center4Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
14%
C 57%
R 29%
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