×
202
Fashion Jobs
EXPLODE SERVICES
Quality Assurance Manager Home Furnishing Garments For Noida
Permanent · Noida
EXPLODE SERVICES
Manager ie Garment Exports
Permanent · Noida
THE BANYAN HR CONSULTS
Merchandising Manager For a Seamless Garments Textile co at Coimbatore
Permanent · Coimbatore
OPERA CLOTHING PRIVATE LIMITED
Production Manager For Garment Manufacturing Factory
Permanent · Vapi
GOKALDAS EXPORTS LTD
sr. Manager - Technical - Garments Industry Background
Permanent · Bengaluru
NIKE
Lead Technical Product Manager, ed&a – Apla
Permanent · Bengaluru
NIKE
Senior Security Incident Responder – Cis
Permanent · Bengaluru
FAABIIANA
Executive For Online Product & Order Management
Permanent · NEW DELHI
FAABIIANA
Customer Sales Executive (Female)
Permanent · NEW DELHI
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Category Manager/sr. Manager-Institutional Sales - Garments Industry
Permanent · Bhiwandi
NIKE
Senior Technical Product Manager, Inventory & Order – Apla
Permanent · Bengaluru
NIKE
Senior Technical Product Manager, Finance – Apla
Permanent · Bengaluru
NIKE
Senior Technical Product Manager, Core Erp – Apla
Permanent · Bengaluru
OMREELS BIOSCOPE PVT LTD
Senior Executive Ecommerce
Permanent · MUMBAI
NIKE
Senior Technical Program Manager, Marketing Tech – Dtpo
Permanent · Bengaluru
NIKE
Service Delivery Manager, Operations Center – Tech Ops
Permanent · Bengaluru
NIKE
Director, Security Solutions & Delivery – Cis
Permanent · Bengaluru
NIKE
HR Manager - Nike India Technology Centre
Permanent · Bengaluru
NIKE
Financial Controller - India
Permanent · Bengaluru
NIKE
Software Engineering Manager, Finance & Procurement Technology – cf&c
Permanent · Bengaluru
NIKE
Service Delivery Manager, Sap & Omdl (Order Management & Delivery) – Tech Ops
Permanent · Bengaluru
NIKE
Service Delivery Manager, Batch & bi – Tech Ops
Permanent · Bengaluru
By
Reuters
Published
Jan 20, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

P&G raises FY organic sales growth forecast after sales beat expectations

By
Reuters
Published
Jan 20, 2017

Procter & Gamble Co reported better-than-expected quarterly sales, driven partly by strong organic sales in its beauty and health care businesses, and raised its fiscal 2017 forecast for organic sales growth.

Shares of the company, which makes Tide detergent and Pampers diapers, were up as much as 3.9 percent in afternoon trading on Friday.


P&G headquarters - pg.com


PP&G has been shedding unprofitable brands as it focuses on core brands, including Tide and Gillette, to boost sales. The company sold 41 of its brands last year, including Clairol and Covergirl, to Coty Inc for $12.5 billion.

The company's total organic sales, which excludes the impact of foreign exchange, mergers and acquisitions, rose 2 percent as pricing and product mix remained flat.

P&G's health care unit, which sells Oral-B and Vicks, was its best performing business with organic sales jumping 7 percent.

Its beauty business, which houses brands like Head & Shoulders and Olay, rose 3 percent. The health care and beauty business together accounted for about 30 percent of P&G's total sales.

P&G said it now expects organic sales growth of 2 percent to 3 percent for the year, up from its prior forecast of a 2 percent increase. This is faster than the 1 percent organic sales growth P&G reported in 2016.

However, headwinds from foreign exchange and further pruning of its portfolio will reduce overall sales growth in 2017 by 2 to 3 percentage points, the Cincinnati, Ohio-based company said.

P&G's product pruning strategy, including the sale of its beauty brands to Coty, is proving effective, Argus Research Corp analyst John Staszak told Reuters.

Core earnings per share, which excludes restructuring charges and other items, was $1.08 in the second quarter ended Dec. 31.

Analysts expected a profit of $1.06 per share, according to Thomson Reuters I/B/E/S.

Net income attributable to the company rose to $7.88 billion, or $2.88 per share, from $3.21 billion, or $1.12 per share, a year earlier. The latest quarter included a gain from discontinued operations, including brands sold to Coty.

The company's net sales of $16.85 billion were largely flat and included a 2 percentage point foreign exchange impact. Still, those sales beat Wall Street's estimates of $16.77 billion.

Up to Thursday's close, P&G's shares had risen 11.7 percent in the past 12 months.

© Thomson Reuters 2022 All rights reserved.