NEW YORK, July 30 — Strong sales of cleaning products and soaps amid the coronavirus crisis more than compensated for lackluster demand for shaving products, lifting Procter & Gamble’s quarterly earnings, the company reported today. The US consumer products giant, whose brands include Mr....
Thursday, 30 Jul 2020 08:26 PM MYT
NEW YORK, July 30 — Strong sales of cleaning products and soaps amid the coronavirus crisis more than compensated for lackluster demand for shaving products, lifting Procter & Gamble’s quarterly earnings, the company reported today. “We remain highly relevent across the board,” said Chief Financial Officer Jon Moeller, who said consumers were keeping larger inventories of products at home to avoid store visits.
Moeller said consumers were using more detergent because they were washing clothes after just one use. Sales of some items, such as Bounty paper towels, were up “strong” double digits in the quarter, he told reporters on a conference call.
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