"Our channel work suggests P&G struggled in the U.S. (especially at Walmart), though China continues to improve," he writes.
"Given sluggish top-line trends for most of the quarter, our fieldwork suggests P&G stepped up promotional activity in the December quarter," he adds.
P&G is also in the middle of a delicate social media situation due to the dangerous Tide Pods challenge which circulated in teen circles. The company even brought in New England Patriots star Rob Gronkowski in an attempt to end the alarming trend.
As far as numbers to watch tomorrow, consensus estimates are for P&G to report revenue of $17.4B, organic sales of +1.88%, gross margin of 51.5% of sales and EPS of $1.14.
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