The Procter & Gamble Company (NYSE: PG) announced net sales growth of nine per cent for the July - September quarter to $22.0 billion (€17.3bn). Organic sales were up five per cent, delivering at the mid-point of the Company's four to six per cent target range. Sales growth was led by strong growth in the Beauty, Fabric Care & Home Care and Baby Care & Family Care segments.
On the segment snacks/Pringles P&G announced:
Snacks, Coffee and Pet Care net sales increased nine per cent to $1.2bn (€945 million) for the quarter on two per cent volume growth. Pricing contributed seven per cent to net sales due to multiple price increases in Coffee and Pet Care, and favorable foreign exchange added two per cent to net sales. These were partially offset by a negative two per cent product mix impact from the disproportionate growth of Snacks, which has lower selling prices than the segment average. Snacks volume increased mid-single digits due to double- digit growth in North America behind strong base business growth of Pringles and continued growth from Pringles Extreme Flavors and Stix initiatives.