Steady volume gains at Procter & Gamble


Procter & Gamble (PG) reports organic sales grew 3% during FQ2 on broad volume gains across segments which helped offset an unfavorable foreign exchange translation.

Segment sales growth: Beauty -2%; Grooming flat; Health Care +4%; Fabric Care/Home Care 1%; Baby/Feminine/Family Care +1%.

No segment saw average prices drop, while Grooming saw the largest gain at 3%.

The company's gross margin rate fell 90 bps due to high commodity costs, foreign exchange, and product mix.

SG&A expenses were 3% lower during the period.

FY14 guidance is reiterated.

PG -0.1% premarket

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Comments (2)
  • PDalowin
    , contributor
    Comments (5) | Send Message
     
    Foreign Exchange is making comparisons difficult, so you have to look at case volume as a consistent measure, and in this environment selling +3% more than last year is a good thing.
    24 Jan 2014, 07:38 AM Reply Like
  • PDalowin
    , contributor
    Comments (5) | Send Message
     
    Foreign Exchange fluctuations, especially now with a stronger dollar, makes year to year comparisons tough. Volume up 3% is very encouraging.
    24 Jan 2014, 07:39 AM Reply Like
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