Procter & Gamble (P&G) released its Q2 2018 earnings.
The company reported $17.4 billion in net sales, a three percent increase over the prior year. The quarter encompasses the months of October, November and December 2017.
Organic sales increased 9% in the beauty segment, driven by skin and personal care. P&G attributed this to innovation within the Olay brand and the growth of ultra high-end skin care brand SK-II. The organic sales increases in hair care, which came in in the low single digits, was shared across all major brands including Pantene, Herbal Essences, Head & Shoulders and Rejoice.
Though the grooming segment decreased in organic sales by 3%, appliances specifically increased in organic sales by double digits, which the brand associated with innovation in the Braun brand. Shave care sales decreased in the mid-single digits and P&G noted this was likely due in part to volume increases driven by pricing reductions.