P&G Beauty Sales Slip in Q3
Procter & Gamble’s U.S. hair care business returned to market share growth in March with a one percent gain, but it was not enough to keep beauty sales from falling in the quarter.
For the January to March third quarter period, P&G said its net beauty sales slid 2% to $4.76 billion or a 1% organic sales decline (excludes foreign exchange and acquisitions and divestitures). Both consumer hair care and skin care segments were down due to competitor pressure and higher promotional spending, while organic sales of salon professional products grew. However higher pricing, manufacturing savings and a lower effective tax rate enabled beauty earnings to rise 2%.
BY Aubree Mercure | PUBLISHED April 24, 2013
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