P&G Rises as It Reports Broad Growth, Raises 2021 Forecast
- Maker of Charmin predicts strong sales until vaccine arrives
- Core organic sales growth seen at 4% to 5% for fiscal year
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Procter & Gamble Co. raised its outlook after posting its best organic sales growth since 2005 amid a boom in at-home consumption of toilet paper and cleaning supplies.
The maker of Tide detergent and Dawn dish soap said organic sales growth, which strips out some items like currency swings, rose 9% in the quarter ended Sept. 30. Sales grew in each of P&G’s business units, led by the fabric and home care segment, which has spiked as consumers do more dishes, laundry and cleaning at home.