Business Standard

P&G hikes forecast on sustained Covid-led demand for cleaning products

The maker of Tide and Ariel detergent has also benefited from people washing their clothes more often and its organic sales overall rose 9 per cent in the first quarter

markets, m-cap
Premium

Grooming products also saw their first rise in sales growth since the start of the year, as electronic stores in Europe placed more orders for trimmers and other styling products

Reuters
Procter & Gamble Co raised its annual sales and earnings forecasts on Tuesday, as coronavirus-driven home cleaning pushed sales of the consumer goods giant's home care products as much as 30 per cent higher.

P&G's shares, up 14 per cent this year, rose another 2 per cent after the numbers suggested consumers are spending the cash they have saved by traveling and socializing less this year on its higher-priced branded goods.

The maker of Tide and Ariel detergent has also benefited from people washing their clothes more often and its organic sales overall rose 9 per cent in the first quarter.

Grooming products

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 20 2020 | 8:52 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com