In the face of rising energy and commodity costs, Procter & Gamble Co.’s fourth-quarter profits surged 33 percent.
Net earnings for the quarter ended June 30 were $3.02 billion, or 92 cents a diluted share, up from $2.27 billion, or 67 cents a share, in the year-ago period. Sales gained 10.3 percent to $21.27 billion from $19.27 billion, boosted somewhat by price increases intended to help offset rising costs.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"