P&G Prepares For Growth To Move From Price Increases To Volume As It Girds For FX Headwind
Contribution of price increases to P&G’s organic sales growth will decrease 3 to 4 points during its FY2024 while volume will “progress sequentially,” says CFO Andre Schulten during firm’s first-quarter earnings briefing. Net sales up 6% to $21.9bn in July-September.
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P&G reports Chinese consumer backlash against Japanese brands over Fukushima nuclear facility wastewater disposal, combined with ‘soft market conditions,’ led to a mid-single-digit decline in organic sales for P&G’s skin and personal-care products in the fiscal second quarter.
Both health, wellness and beauty product marketers on report increased prices helped drive revenue growth during April-June period while also factoring in lower sales volumes.
Moeller, CFO since 2009, will retain vice chairman and COO posts and continue heading P&G’s enterprise markets, the firm’s smaller markets,