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P&G Q2: Anti-Japanese Sentiment Sinks SK-II Sales As Late Cough/Cold Season Weighs On Health

 
• By Eileen Francis

P&G reports Chinese consumer backlash against Japanese brands over Fukushima nuclear facility wastewater disposal, combined with ‘soft market conditions,’ led to a mid-single-digit decline in organic sales for P&G’s skin and personal-care products in the fiscal second quarter.

SKII

The Procter & Gamble Co. reported tensions between China and Japan as well as “soft market conditions” drove sales of its SK-II skin care brand down 34% in the fiscal second quarter, while a later-than-expected cough and cold season cut into sales of respiratory products.

Those factors weighed on P&G’s Beauty and Health Care divisions and dampened overall net sales for the quarter, which grew only 3% to $21.4bn versus 6% growth in the fiscal first quarter

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