P&G Beauty Dragging With Olay Quiet, Coty Brand Takeover Ongoing

Olay sales slipped on an organic basis during the firm's third quarter, despite efforts over the past year to kickstart the brand, and strong Pantene and Head & Shoulders performances in hair care couldn't offset underperformers. Efforts to close the firm's $12.5bn merger deal with Coty likely continue to weigh on the P&G's beauty performance, with sales down 8% to $2.7bn for the period.