{"id":159558,"date":"2021-01-20T23:26:46","date_gmt":"2021-01-20T20:26:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/covid-driven-cleaning-routines-boost-pg-sales-forecast-again\/"},"modified":"2021-01-20T23:26:46","modified_gmt":"2021-01-20T20:26:46","slug":"covid-driven-cleaning-routines-boost-pg-sales-forecast-again","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/covid-driven-cleaning-routines-boost-pg-sales-forecast-again\/","title":{"rendered":"#COVID-driven cleaning routines boost P&G sales forecast again"},"content":{"rendered":"

“#COVID-driven cleaning routines boost P&G sales forecast again<\/strong>”
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Procter\u00a0&\u00a0Gamble raised its full-year sales forecast for a second time Wednesday as it benefited from sustained coronavirus-driven demand for cleaning products, while also warning that the pace of sales might slow as vaccines roll out.<\/p>\n

The Cincinnati-based conglomerate reported an 8 percent rise in net sales for its second quarter, slower than 9 percent growth in the first quarter but showing the boom in household cleaning purchases was continuing.<\/p>\n

P&G said Americans were cleaning and sanitizing 30 percent more than before the pandemic. Dishwasher cycles were run 15 percent more and air fresheners sprayed 20 percent more often while in-home paper towel usage was up 15 percent.<\/p>\n

The company saw a 30 percent rise in organic sales of its home care products in the second quarter, while consumer willingness to pay for more premium brands over store-branded goods helped sales of items like Downy laundry beads and Tide pods.<\/p>\n

P&G\u2019s shares, which rose as much as 2.5 percent initially, lost all those gains after executives warned that the rollout of vaccines was liable to cool those trends.<\/p>\n

\u201cCould there be some reduction in top line growth rates if, God-willing, the situation gets better, and therefore, I need less in my pantry as protection? Yes, that could occur,\u201d finance and operating chief Jon Moeller said.<\/p>\n

Still, P&G raised its fiscal 2021 sales growth forecast to a range of 5 percent to 6 percent, from 3 percent to 4 percent, mainly on the back of a strong first half.<\/p>\n

It also lifted its core earnings per share growth forecast to 8 percent to 10 percent, from 5 percent to 8 percent, and said organic sales are now expected to grow 5 percent to 6 percent, compared with 4 percent to 5 percent it anticipated earlier.<\/p>\n

The company will also buy back up to $10 billion worth of shares in fiscal 2021, up from the $7 billion to $9 billion target it set earlier, and Moeller pointed to the likelihood of a boost from new fiscal stimulus under Joe Biden\u2019s presidency.<\/p>\n

\u201cIt\u2019s a rather uncertain environment, but where stimulus has existed it has helped and more of it will help more,\u201d he said.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#COVID-driven cleaning routines boost P&G sales forecast again” Procter\u00a0&\u00a0Gamble raised its full-year sales forecast for a second time Wednesday as it benefited from sustained coronavirus-driven demand for cleaning products, while also warning that the pace of sales might slow as vaccines roll out. The Cincinnati-based conglomerate reported an 8 percent rise in net sales for…<\/p>\n","protected":false},"author":1,"featured_media":159559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/01\/procter-gamble-earnings-up.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[90143,1545,70237,90252],"class_list":["post-159558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-1-20-21","tag-coronavirus","tag-corporate-earnings","tag-procter-gamble"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/159558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=159558"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/159558\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/159559"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=159558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=159558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=159558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}