The Procter & Gamble Company has announced its second quarter 2024 results, which showed net sales for the beauty segment were $3.849 billion. This represents an increase of 1% compared to the previous year.
Grooming segment net sales were $1.734 billion. Organic sales increased 9% compared to the previous year, driven by higher pricing, premium product mix and volume growth.
Skin and personal care organic sales in the beauty segment declined in the mid-single digits as volume declines and an unfavorable mix due to lower sales of SK-II were partially offset by higher pricing.
Hair care organic sales increased in the high single digits, driven by increased pricing, premium product mix and volume growth, primarily in North America.
Jon Moeller, chairman of the board, president and CEO, said, "We delivered strong results in the second quarter, enabling us to raise our core EPS growth guidance and maintain our top-line outlook for the fiscal year. We remain committed to our integrated strategy of a focused product portfolio of daily use categories where performance drives brand choice, superiority—across product performance, packaging, brand communication, retail execution and consumer and customer value—productivity, constructive disruption and an agile and accountable organization. The P&G team’s execution of this strategy has enabled us to build and sustain strong momentum. We have confidence this remains the right strategy to deliver balanced growth and value creation.”