The Procter & Gamble Co.’s lower second-quarter earnings came in ahead of Wall Street estimates as its Beauty unit logged higher profits despite a decline in revenues.
In the three months ended Dec. 31, the Cincinnati-based consumer products giant recorded net income of $3.43 billion, or $1.18 a diluted share, 15.5 percent below the $4.06 billion, or $1.39, recorded in the year-ago period. Adjusted EPS, eliminating the effects of restructuring efforts, was $1.21, 1 cent better than the consensus estimate of analysts. Revenues rose 0.5 percent to $22.28 billion, just below the $22.33 billion expected by analysts.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)