P&G Tops Estimates on Higher Prices but Signals Slowing China Demand
July 31, 2023
Procter & Gamble (P&G) reported better-than-expected quarterly sales and profit due to multiple price hikes on its products, but the company also highlighted weak demand in China following the lifting of pandemic restrictions. The rebound in China has been slower than expected, impacting global firms, including P&G, which saw a 1% decline in overall volumes partly due to soft demand in Greater China. Despite challenges in China, P&G’s products like Pampers diapers, Pantene shampoo, and Oral-B toothpaste saw strong demand in the U.S., where consumer sentiment improved as inflation subsided.
Recent News
Black Entrepreneurs Innovate With Custom ChatGPTs To Offer Personalized User Experience
Over the past year, several chatbots and customized versions of ChatGPT created by Black entrepreneurs have emerged. These innovations are particularly tailored to serve the needs of Black and Brown communities.
Rising RV Sales Indicate Positive Economic Trends
Settling into a familiar flow, the RV industry is not only getting back into gear but also reaffirming its function as an economic indicator.
Supreme Court Rules Against Starbucks Union in Landmark Case
The Supreme Court ruled against the Starbucks union.
Adidas Launches Large-Scale Bribery Probe in China
Adidas has launched the probe after a whistleblower report.