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P&G Q2 Sales Fall 1%

Gains in fabric and home care offset by declines in beauty.

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By: TOM BRANNA

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Procter & Gamble’s second quarter sales fell 1% to $20.8 billion. The company blamed unfavorable foreign exchange, which had a 6% impact on net sales. P&G noted that organic sales rose 5%. Those results were driven by a 10% increase from higher pricing and a 1% increase from positive product mix, partially offset by a 6% decrease in shipment volumes. Still, company officials remained upbeat. “We delivered solid results in the second quarter of fiscal year 2023 in what continues to b...

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