Correction: Earns-Procter & Gamble story The world's largest consumer goods company, whose products like Tide detergent and Gillette razors are in 98 percent of U.S. households, in recent years has lost business to competitors as it grew too fast overseas and kept prices high. [...] on Friday P&G reported that its fiscal second quarter profit more than doubled as the plan the company launched last year to lower costs and roll out new products boosted its bottom line. [...] while competitors lowered prices, P&G took for granted that many of its products are household names in some regions, and the company held its ground on pricing. Investors, most notably activist William Ackman, who took a 1 percent stake in P&G in July, have been vocal about the company's need to streamline operations and grow market share globally. In the U.S., Tide Pods drove the improvement in the detergent category and Cascade dish detergent, Gillette Fusion razors and Crest toothpaste were other strong sellers. Lower prices in North America helped spur market share gains for products such as Gain detergent, dishwashing liquid such as Cascade and Gillette razors, which gained 2 points of market share to boast 74 percent in the U.S.
Correction: Earns-procter & Gamble Story
Business Heds Index, Seattle Post-Intelligencer: Business
Mon, 01/28/2013 - 2:32pm
Topics: correction earns-procter gamble friday p&g investors william ackman july u.s tide pods gillette fusion crest north america gain cascade based unilever tide gillette p&g in percent products company share detergent razors prices market helped costs fiscal reported category results competitors year
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