Sales & Earnings In Brief
This article was originally published in The Rose Sheet
Executive Summary
P&G Beauty: Despite overall market slowdown, company continues to see strength in its premium beauty offerings, including Olay Pro-X, Secret Clinical Strength, Nice 'N Easy Perfect 10 and Gucci fine fragrance, Procter & Gamble says April 30. In third quarter Nice 'N Easy value share was up nearly two points behind Perfect 10, which is "offsetting declines in minor hair color brands," firm says. Skin-care organic volume declined mid-single digits following price increases in the North American and Central Eastern Europe, Middle East and Africa regions; however, value share of the facial skin-care market was up nearly a point, driven by expansion of Olay in developing markets. Prestige fragrance volume declined double digits, firm notes. Net beauty sales declined 9% in the quarter to $4.3 billion, with organic sales in line with the previous year. The sales performance contributed to a decline in net beauty earnings, which fell 14% to $504 million. Overall, P&G revenue declined 8% to $18.4 billion for the third quarter; net earnings fell 4% to $2.61 billion