P&G ups annual sales outlook as price hikes boost business
Procter & Gamble, the maker of such iconic household products as Crest toothpaste, Tide detergent and Charmin toilet paper, raised its annual sales outlook on Friday, after turning in better-than expected fiscal third-quarter earnings results as a seri... NEW YORK -- Procter & Gamble Co., the maker of such iconic household products as Crest toothpaste, Tide detergent and Charmin toilet paper, raised its annual sales outlook on Friday, after turning in better-than expected fiscal third-quarter earnings results as a series of price hikes boosted its performance. The earnings results offer encouraging signs about the resiliency of the consumer ahead of reports next month from major retailers like Walmart and Target in an increasingly challenging economy. P &G executives told analysts during its earning call on Friday that the U.S. consumer is “holding up well” and its share of private label brands, which tend to be less expensive, is stable at 16%, a good indication that ...