In the second quarter of its 2015 fiscal year, the Procter & Gamble Company reported net sales decreased 4% versus year ago to $20.2 billion. Organic sales in the October–December quarter were up 2%, with growth in four of five reporting segments. Organic volume was unchanged versus the prior year..
"The October–December 2014 quarter was a challenging one with unprecedented currency devaluations," said A.G. Lafley, chairman, president and CEO. "While we continue to make steady progress on the strategic transformation of the company (which focuses P&G on about a dozen core categories and 70 to 80 brands), the considerable business portfolio, product innovation and productivity progress was not enough to overcome foreign exchange. The outlook for the year will remain challenging."
The company's beauty, hair and personal care business segment posted an organic sales decrease of 1%, driven primarily by declines in the prestige and skin and personal care categories. This was partially offset by innovation-driven sales growth in the salon professional and antiperspirant/deodorant businesses.
In its grooming business, organic sales increased 2% due to higher pricing and innovation on Gillette grooming and innovation on Braun. This growth was partially offset by lower shipment volume. P&G's health care segment saw organic sales increase 1% behind growth in oral care from innovation and increased pricing.
The full results are available from P&G.
