P&G posts surprise sales drop as demand slows despite price controls

Quick Summary:

PROCTER & Gamble posted a surprise drop in fourth-quarter sales, as demand for its Charmin toilet paper and Pampers diapers slowed globally despite efforts to keep prices in check, sending its shares down 5% before the bell on Tuesday.

P&G reported a 1% rise in overall volumes in the fourth quarter, driven by growth in grooming and health care segments.

Fourth-quarter net sales slipped to $20.53 billion and missed LSEG expectations of $20.74 billion.

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Category: EconomyBusiness

Markets: MalaysiaChina

Topics: FMCG /Business/Business News Profit Consumer Corporate News

Source Website Secure: Yes (HTTPS)

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-30 @ 20:59:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 458 words

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News ID: 21856746

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