P&G and Unilever's latest financial reports point to growth in beauty, personal care and grooming, with mixed results across categories.
Hair Care and Grooming Drive P&G Results
For the April-June 2024 financial period, which is P&G's Q4 2024, the company reported that beauty organic sales were up 3%, offset by ongoing weakness at SK-II related to a soft market in China.
Hair care was a highlight in the period, growing in the high single digits due to premium product sales growth and increased pricing.
Meanwhile skin care and personal care were flat year-over-year, supported by increased pricing.
Grooming sales jumped 7% year-over-year in the period due to increased pricing in Latin America and other markets as well as volume growth driven by new launches.
For fiscal year 2024, P&G reported that beauty net sales were up 1% year-over-year, while grooming net sales were up 4%.
Unilever Results led by Deodorants and Well-being
Unilever's first half 2024 results, meanwhile, saw a 7.1% underlying sales growth for its beauty and well-being sector, with volume growth of 5.5% driven by prestige beauty and well-being offerings.
Q2 witnessed strong health & well-being sales, per Unilever, while prestige sales slowed, particularly in the U.S. market.
For the first half of the year, personal care sales grew 5.6%, with 2.9% coming from volume increases, particularly in deodorants.
