The Procter & Gamble Co. is focusing on strengthening its existing beauty portfolio, rather than acquisitions, as it looks to accelerate its business in the category.
Beauty was the weakest top-line performer of the Cincinnati-based consumer products giant’s five business segments in the second quarter ended Dec. 31, as category sales declined 2.2 percent, to $5.28 billion from $5.4 billion, and were flat after adjustment for currency fluctuation. Net earnings for the segment rose 5.7 percent to $927 million from $877 million a year ago. Gains “from market growth and innovation” helped Prestige, Hair Care, Deodorants and Personal Cleanings products while Skin Care sales declined.
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)