The Procter & Gamble Co.’s beauty business managed to overcome a dip in sales and drove first-quarter net profits up 5 percent to $690 million.
The segment’s net sales for the quarter ended Sept. 30 slipped 1 percent to $4.9 billion.
P&G’s organic beauty sales rose 1 percent in the quarter, which the company attributed to “innovation in hair care, deodorants, cosmetics and personal cleansing, coupled with market growth.” This growth was partially offset “by a decrease in skin-care sales and unfavorable geographic and product mix.”
Chief financial officer Jon Moeller told analysts on a conference call that the company was planning on “a heightened level of competitive promotional spending” to support product initiatives in beauty.
“We have a strong slate of initiatives coming to market December through March in beauty,” Moeller said. “The specifics are not items that we’ve disclosed yet, and we’ll do that as we get closer to the events themselves. But there is significant innovation coming.”
Beauty is also seeing “real progress on productivity,” the cfo said. “They’re working that as hard as anybody and are frankly doing a great job.”
Moeller acknowledged that the category was “very competitive” and that “we continue to have more work to do.”
Sales in the personal-cleansing business increased by a percentage in the high-single digits in the first quarter and Moeller said the cosmetics business was doing “extremely well.”
“We continue to need to make progress on North American Pantene, on Olay, and we need to make progress in our Salon Professional businesses,” he said. “Those are the strengths and the weaknesses, as it were, and we’re fully focused on maximizing the opportunity behind the strengths and addressing the opportunities.”
Overall, the consumer-products giant saw its net income rise 8 percent to $3.03 billion, or $1.04 a diluted share, as sales increased 2 percent to $21.21 billion in the quarter. Adjusted earnings of $1.05 a share met analyst estimates. The firm’s stock closed down 0.8 percent to $80 on Friday.
Taking the final spot on the mens’ portion of New York Fashion Week calendar next month will be none other than @tomford. Though he’s shown his men’s wear in New York in the past, this will mark the first time the designer has shown his men’s collection alone during New York Fashion Week: Men’s. His runway show will debut on February 6 at the Park Avenue Armory. #wwdfashion
London-based couture house @ralphandrusso has certainly been in the spotlight, having its dresses worn by @beyonce, Angelina Jolie, Meghan Markle in her engagement photos and more. For couture, Tamara Ralph focused on ornamentation — think: feathers with chain mail, jet embroidery and clusters of pearls and crystals. See the rest of the collection on WWD.com #wwdfashion #couture (📷: @giovanni_giannoni_photo)
Minnie Mouse celebrated her 90th birthday by getting her own star on the Hollywood Walk of Fame. For her celebratory luncheon, @coach’s creative director @stuartvevers dressed her in a custom made prairie dress, complete with Vever’s take on the polka dot – black sequined versions – under a cropped motorcycle jacket. The designer also put his own mark on Minnie’s classic red shoes, infusing the color with sparkles and adding some Coach crystals. “We chose colors that were very Minnie and also represented quintessential Coach elements,” said Vevers. #wwdfashion #nationalpolkadotday (📷: George Chinsee)
@nickjonas is unveiling his first-ever apparel collection through a partnership with John Varvatos. The limited-edition capsule, which makes its debut in spring, also marks the first time the designer has collaborated with anyone on a line. “The process in working with Nick is amazing. It’s inspiring to be around someone who is not only connected with the trade that they do, but also with what’s happening in the environment around him, and how that connects to what we do with style,” said Varvatos. (RG: @johnvarvatos) #wwdfashion
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)