NEW YORK — Clairol supplied the highlights for Procter & Gamble Co.’s beauty care division, helping the consumer products giant beat out fourth-quarter estimates by 2 cents.
Exclusive of restructuring costs, the beauty care segment saw net profits ascend 45 percent to $248 million, while earnings before income taxes jumped 51 percent to $363 million. Sales increased 22 percent to $2.14 billion during the quarter ended June 30. Unit volume swelled 32 percent. Lower prices for Clairol products, compared with others in the P&G stable, contributed to the disparity between unit and dollar volume.
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?"