Procter & Gamble sales soar as people wash more clothing and dishes
But homebound consumers are shaving less, and the grooming unit was the only unit to post organic sales declines in the quarter
30 July 2020 - 14:08
New York — Procter & Gamble posted a surge in sales this spring as higher at-home consumption of laundry detergent and dish soap plus continued stockpiling gave the consumer-staples giant a boost. But the pace of growth may slow from here.
P&G, which makes cleaning staples including Tide, Dawn and Swiffer, posted a 6% jump in organic sales in the quarter ended June 30. That helped lift revenue in its fabric and homecare unit by a record 14% during the fiscal fourth quarter. It also logged double-digit growth in family care, the home of high-demand Charmin, Bounty and Puffs...
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