Procter & Gamble Co reported quarterly sales that fell short of analysts' e...
Sales of P&G’s fabric and home care products, its biggest business, rose 4% to $5.79 billion, while baby and feminine products rose just 1% to $4.58 billion, both falling short of estimates.
Jefferies analyst Kevin Grundy said Wall Street expectations were built on the company’s momentum in the past five quarters, but the modest second-quarter results are likely to be met with disappointment.Sales at the company’s grooming business, which makes Gillette razors, rose 2% to $1.65 billion, but also fell below estimates. The company took an $8 billion charge last year related to the unit, which faces competition from smaller rivals Harry’s and Dollar Shave Club.
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