Procter & Gamble’s quarterly sales, earnings get boost from price hikes

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 92%

Business News News

Business Business Latest News,Business Business Headlines

Procter & Gamble tops quarterly sales and profit estimates, boosted by price hikes

beat estimates for quarterly sales and profit on Wednesday, as price hikes on everything from Head & Shoulders shampoo to Tide detergent helped blunt the impact of higher raw material costs and a stronger dollar.

Demand for household consumer goods has so far fallen at a slower pace than discretionary products like apparel and electronics, as consumers prioritize spending on essential items. P&G said average prices across its product lines rose 9 per cent in the first quarter ended Sept. 30, while sales volumes fell 3 per cent.

Nestle has also benefited from price hikes and a smaller-than-expected slowdown in demand, with the world’s largest packaged food company posting its strongest nine-month sales growth in 14 years and raising its full-year forecast earlier on Wednesday.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Inflation, how does that happen you ask?

'boosted by price hikes' Or what I call price gouging the consumer

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'More of the Same' to Come from Housing Market in Coming Months: EconomistA new report from RBC Economics shows that sales activity and home prices continuing on a downward trajectory in most Canadian markets.
Source: storeyspub - 🏆 16. / 74 Read more »