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P&G’s Sales Rise 1% in Fiscal 2013

Modest gains beat Street estimates.

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By: TOM BRANNA

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Sometimes, a little is more than enough. Procter & Gamble's fiscal 2013 sales rose just 1% to $84.2 billion, but the modest gain, driven in part by fabric and home care product sales, beat Wall Street estimates and sent P&G's stock higher in early morning trading. The company said that unit volume growth contributed 2% to sales growth, and pricing added 1%. Unfavorable foreign exchange reduced net sales by 2%. Organic sales increased 3%, with all segments growing organic sale...

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