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Sales Fall at P&G

Down 12% from the same period a year ago.

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

The Procter & Gamble Company reported first quarter fiscal year 2016 currency-neutral Core earnings per share growth of 12% versus the prior year. Core earnings per share were $0.98, a decrease of 1%. Diluted net earnings per share were $0.91, an increase of 32%. Net sales were $16.5 billion, a decrease of 12% versus the prior year due primarily to significant foreign exchange impacts. Organic sales decreased 1%. Core operating profit margin increased 270 basis points with improvement in gross margin and SG&A costs.
 
In the Baby, Feminine and Family Care segment organic sales declined 3% versus year ago as pricing benefits in Baby Care and Feminine Care along with mix benefits in Baby Care and Family Care were more than offset by lower volume in each of the three businesses. Baby Care volume declined due to competitive activity and increased pricing. Feminine Care volume declined due to price increases in the previous fiscal year. Family Care volume decreased due to exiting under-performing product lines in Mexico.

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