In the fourth quarter, organic sales, a closely watched metric which exclude items like acquisitions, divestitures and currency effects, rose 7 per cent, its best in at least two years. Price hikes contributed 3 percentage points to the organic sales growth, the company said.Organic sales in the beauty business rose 8 per cent, boosted by demand for its super-premium SK-II brand and Olay skin care products.
In the fabric and home care unit, the company’s biggest business that sells Tide and Febreze air fresheners, organic sales climbed 10 per cent. The company’s net sales rose 3.6 per cent to $17.09 billion in the fourth quarter, beating analysts’ average estimate of $16.86 billion, according to IBES data from Refinitiv.
The Pampers diaper maker reported a net loss attributable to the company of $5.24 billion, or $2.12 per share, for the quarter ended June 30, primarily due to non-cash accounting adjustments related to its Gillette Shave Care business. This compares to net income of $1.89 billion, or 72 cents per share, a year earlier.Tickers mentioned in this storyDue to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience.
globebusiness The first rule of management: always downplay expectations!