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P&G Posts Sales Growth

Organic sales up 9%

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

The Procter & Gamble Company (P&G) reported first quarter fiscal year 2021 net sales of $19.3 billion, a 9% increase versus the prior year. Unfavorable foreign exchange negatively impacted sales by one percentage point for the quarter. Excluding the impacts of foreign exchange, acquisitions and divestitures, organic sales also increased 9%, driven by a 7% increase in organic shipment volume, one percentage point of increased pricing and one percentage point of positive mix impact. Positive mix was driven by the disproportionate growth of premium home, health and hygiene products and the North American business, driven in part by pandemic-related consumption and inventory increases.

“We delivered another strong quarter of organic sales growth, core earnings per share and cash returned to shareowners, enabling us to increase our outlook for fiscal year results,” says David Taylor, chairman, president and chief executive officer. “Our near-term priorities continue to be employee health and safety, maximizing availability of P&G products for consumers around the world, and helping society meet the challenges of the Covid crisis. We remain firmly focused on executing our strategies of superiority, productivity, constructive disruption and improving P&G’s organization and culture to deliver balanced top-line and bottom-line growth along with strong cash generation.”

Baby, Feminine and Family Care segment organic sales increased 4% versus year ago. Family Care organic sales increased double digits primarily due to consumption increases driven by consumers spending more time at home during the pandemic. Feminine Care organic sales increased high single digits with innovation led growth in North America and Greater China and more than 20% growth in Adult Incontinence products. Baby Care organic sales decreased low single digits as low single digit growth in the North American region was more than offset by category contraction and increased competitive activity in other regions.

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