P&G Promises Greater Innovation In Personal Care After Lackluster Q3

Recent struggles cause Procter & Gamble to knock down its full-year earnings-per-share guidance. Questioned by analysts, CEO Bob McDonald accepts blame and promises that P&G “will deliver.” The firm’s U.S. grooming and oral-care businesses have taken hits due to “unprecedented” promotional spending by competitors, according to company leadership.

As competitors report encouraging growth in their personal-care portfolios, Procter & Gamble Co. CEO Bob McDonald admits that his firm has “work to do” on its offering from an innovation standpoint.

The CEO faced tough analyst questions during an April 27 third-quarter earnings call in which P&G reported sluggish growth in most of its business segments including beauty and grooming, which each

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