Procter & Gamble Sales Jump, Though Rapid Rate Seen Slowing
- Tide maker says sales trends will continue as people stay home
- Core earnings growth seen at 3% to 7% in 2021, was 13% in 2020
Procter & Gamble Co. Tide Pods brand laundry detergent.
Photographer: Daniel Acker/Bloomberg
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Procter & Gamble Co. posted a surge in sales this spring as higher at-home consumption of laundry detergent and dish soap plus continued stockpiling gave the consumer-staples giant a boost. But the pace of growth may slow from here.
P&G, which makes cleaning staples including Tide, Dawn and Swiffer, posted a 6% jump in organic sales in the quarter ended June 30. That helped lift revenue in its fabric and home care unit by a record 14% during the fiscal fourth quarter. It also logged double-digit growth in family care, the home of high-demand Charmin, Bounty and Puffs.