"This quarter was yet another example of the strength of P&G's balanced brand and geographic portfolio," said A.G. Lafley, chairman of the board and CEO, P&G. "We continue focusing on leading innovation and improving productivity to deliver superior consumer and shareholder value. This focus on delighting consumers with trusted household and personal care products that consumers purchase weekly and use daily gives me continuing confidence P&G will deliver target growth over the long term, even in a challenging economic environment."
Cosmetics volume grew double digits behind continued growth of Cover Girl. Skin Care volume grew low-single digits due to double-digit growth of SK-II. Prestige Fragrances volume declined low- single digits due mainly to a shift in initiative timings to the second half of fiscal 2009. Earnings grew 9% during the quarter to $754 million as sales growth and lower SG&A expenses as a percentage of net sales were partially offset by reduced gross margin from higher commodity costs. Grooming net sales were up 6% to $2.1 billion for the quarter.