P&G’s Fiscal Third Quarter Buoyed By US Consumer Loyalty, China Recovery

 
• By Eileen Francis

Procter & Gamble Co. reports net sales in the fiscal third quarter advanced 4% reported, 7% organically. US consumers are sticking with the firm’s brands, including Pantene and Vick’s, despite higher pricing taken through March, while China shows steps in recovery with 2% organic growth in the quarter.

Cincinnati - Circa May 2017: Wide Angle Procter & Gamble Corporate Headquarters. P&G is an American Multinational Consumer Goods Company VII

The Procter & Gamble Co.’s earnings report for the fiscal 2023 third quarter is stoking investor confidence as US consumer sentiment remains strong despite price increases, and China claws back from COVID-related lockdowns.

Sales for the company’s products, which include Pantene hair care, Vick’s cough and cold remedies and Crest toothpastes, exceeded expectations, growing 4% to $20.1bn in the quarter ended 31 March, the Cincinnati-based firm reported on 21 April

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