Posted on 04/17/2020 7:10:02 PM PDT by Morgana
Procter & Gamble’s sales in the United States surged higher in the first three-months of the year as households stocked up on consumer staples such as toilet paper and cleaning products.
P&G, whose brands include Charmin toilet paper and Mr. Clean soaps, reported a six percent rise in its fiscal third-quarter profits to $2.9 billion.
Revenues climbed five percent to $17.2 billion. Sales in the U.S. rose by rose by more than 10 percent, the biggest rise in decades, more than offsetting the drop in sales in China.
P&G, along with Johnson & Johnson, appears to have been an early winner from the chaotic shifts in economies around the globe as the coronavirus spread from China to the U.S. and the rest of the world. While the shutdowns devastated restaurants, travel, most manufacturing, and hospitality, the surge in spending on consumer goods has helped some companies.
But the company cut its revenue forecast for fiscal 2020. It’s likely that unusually high household inventories could hold back further spending and a strong U.S. dollar could weigh on global sales.
P&G, which raised its dividend earlier this week, cited especially strong sales gains in personal health care and fabric and home care; the latter category includes cleaning products such as Comet soap and Cascade dishwashing detergent.
But the company also cited a drag from the coronavirus in China and other key Asian markets, where retail operations were disrupted. P&G suffered a double-digit revenue decline in the super-premium SK-II beauty products, a driver of earnings in past quarters.
“The strong results we delivered this quarter are a direct reflection of the integral role our products play in meeting the daily health, hygiene and cleaning needs of consumers around the world,” said P&G Chief Executive David Taylor.
(Excerpt) Read more at breitbart.com ...
Stupid hyphens. Help stop hyphen abuse. Don’t hyphenate every time you spell out numbers.
No surprise there.
Amazon is also going to blow the door off the hinges.
Who owns Purell? LoL
Also, I find it funny that people get the 'nice version' even for stocking up/hoarding. I use Target's generic brand even in non-lockdown times...LoL.
(But now I don't even bother going to Target in case there's a line of people. Don't want to deal with that. I stick to smaller convenience stores.)
(my prior post was referring to toilet paper...that I find it funny people stock up on Charmin.)
Consumer staples always do well in hard times. People gotta’ eat and wipe their butts.
As soon as this pandemic started my elderly MIL, all on her own, sold all of her P&G stock. :( Her sister used to work there 30 years ago so she probably had quite a bit and for a long time.
Sadly, she’ll probably see that it is going up and buy it high. And then later in the year when it starts to drop again, well, you know....
Look for sales to drop off in the coming quarter since everyone has months and months of supply.
I still say buy cheap vodka. You take a mouth full slosh it around, don’t swallow but spit it on your hands and scrub vigorously. Do this till you can’t hardly stand up. Cap the remainder of the bottle for later use. Restock vodka as needed and aspirin for the hang over. Enjoy.
Yes. They mentioned that in their earnings statement.
I have owned PG stock for 20 years. It’s the bluest of blue chips.
Given the way people have taken to stockpiling instead of squeezing the Charmin, no surprise there.
Me too, bit longer actually.
Does anyone else recall that back around 1985, various customers began saying that the Proctor & Gamble Logo displayed indications of Devil Worship?
I kid you not.
This loud whispering went on for a couple of years.
Looking at the logo with it’s Sun, Moon & Stars.
In 2007, P&G was awarded $19.25 Million over such false rumors.
Moral of story: Sometimes a logo is just a logo, and nothing more.
Using a hyphen is not necessarily an abuse.
Same here with JNJ, but I haven’t been looking at my stocks.
Thanks to this post, I now see it’s back near its 52-week high.
Wow!
Someone got there ass WIPED!
Who else has a good byline for this story?
And this: We know there are always winners and loo-users.
Who the heck makes Lysol?
I can’t believe how hard that is to find.
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