Looks like you’re on the UK site. Choose another location to see content specific to your location

Home Industry News Procter and Gamble set to miss target

Procter and Gamble set to miss target

12th December 2008

Procter and Gamble (P&G) has said it will miss its quarterly sales target, due to the slowdown in the global economy.

The company however added it is set to hit its profit targets for the current quarter and for its fiscal year – ending in June.

Retailers have been paring inventories to avoid costly product write-downs that would hurt already bruised profits, P&G continued, as they fear consumers will become more budget-conscious and reluctant to shop.

Speaking ahead of its analyst meeting, P&G said: “This change is driven primarily by reductions in retailer, distributor and consumers’ in-home inventories in both developed and developing markets.”

Citigroup analyst Wendy Nicholson wrote in a research note: “We find this revision to be a disappointment given the breadth of P&G’s portfolio.”

She added the company has not been as “aggressive” with price increases, in comparison to competitors.

Last month, P&G released its 10th annual sustainability report.

Details of the statement include the fact that energy, waste and emissions’ reductions remain on-track to achieve the company’s 2012 targets, set in 2007.

Entitled Design to Innovate?Sustainability, the report outlined the company’s approach to preserving development.

We currently have 7 jobs available in Pharmacy industry, find your perfect one now.

Stay informed

Receive the latest industry news, Tips
and straight to your inbox.