The Procter & Gamble Co. gracefully sidestepped consumers' proverbial belt tightening in the second quarter, posting a group profit gain of 14 percent.
During a conference call Thursday, the consumer products giant also said it plans to exit its $1.6 billion coffee business and establish a separate company called The Folgers Coffee Co. The new company will have its headquarters in Cincinnati, as does P&G, and will employ about 1,250 people at four sites in the U.S. P&G expects to determine the deal structure this spring and complete the transaction in the July to December period.
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)