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- Procter & Gamble tops estimates on resilient demand for beauty, hair-care products</p>
<p>By Jessica DiNapoli and Juveria TabassumOctober 24, 2025 at 7:14 PM</p>
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<p>Tide detergent, a brand owned by Procter & Gamble, is seen for sale in a store in Manhattan, New York City, U.S., June 29, 2022. REUTERS/Andrew Kelly/File Photo</p>
<p>By Jessica DiNapoli and Juveria Tabassum</p>
<p>(Reuters) -Procter & Gamble on Friday beat Wall Street estimates for first-quarter revenue and profit, helped by strong demand for its beauty and hair-care products amid higher prices and a broader slowdown in spending due to economic uncertainties.</p>
<p>The Tide maker, a bellwether for the global consumer goods industry, reduced its annual tariff cost estimate to about $400 million after tax, from about $800 million forecast in July, largely on Canada lifting retaliatory tariffs on U.S. goods.</p>
<p>However, U.S. President Donald Trump on Thursday terminated all trade talks with Canada. The Canadian government had no immediate comment.</p>
<p>P&G CFO Andre Schulten said on a media call that "beyond the headlines, we have no information that would have any impact on how we view our tariff exposure at this point in time."</p>
<p>The company's shares were up about 4% in premarket trading. They have fallen about 9% so far this year.</p>
<p>The results from P&G, whose CEO Jon Moeller will be replaced by another company veteran Shailesh Jejurikar on January 1, echo those from rival and Dove parent Unilever, which on Thursday disclosed double-digit sales growth from beauty brands in the U.S.</p>
<p>P&G has raised some prices in the U.S. to help mitigate the impact from tariffs, with the Cincinnati-based company banking on demand for its portfolio of products such as Dawn dish soap and Pampers diapers at a time when discretionary spending remains muted.</p>
<p>It lowered prices in Canada after retaliatory tariffs were canceled.</p>
<p>Despite the price hikes, the company's operating margins fell 50 basis points from a year earlier.</p>
<p>The company is also turning to its fine-tuned strategy of introducing improved products at higher prices, with sales growing in the grooming segment, helped by pricing and volumes.</p>
<p>Sales volumes in the beauty segment, which houses brands such as Pantene shampoo and the Olay brand, rose 4% in the three months ended September, compared with a 1% increase in the prior quarter. Prices in the business were up by about 1% sequentially.</p>
<p>A P&G spokesperson said while underlying market conditions in China were still challenging, with a low level of consumer confidence, the company still managed to report double-digit growth in categories such as baby care, helped by demand for its premium Bum Bum diapers in the country.</p>
<p>Still, overall volumes across the company remained flat as consumers, particularly from lower-income households, have continued to stretch their budgets as higher-priced items hit store shelves.</p>
<p>The results kept the company on track to deliver within its annual targets, which it retained on Friday, "in a challenging consumer and geopolitical environment," Moeller said in a statement.</p>
<p>The company's quarterly revenue grew 3% to $22.39 billion, edging past estimates of a 2% growth to $22.17 billion, according to data compiled by LSEG.</p>
<p>Gross margins fell for the third straight quarter, but core earnings per share of $1.99 beat estimates by 9 cents, as higher prices helped offset pressures from the tariffs.</p>
<p>A volatile spending environment globally has also forced the company to pull out of some product segments in certain markets.</p>
<p>The company was exiting the laundry bars business in India and the Philippines, and has closed manufacturing to shift to a distribution model in Pakistan, a company spokesperson told Reuters.</p>
<p>(Reporting by Juveria Tabassum in Bengaluru; Editing by Sriraj Kalluvila)</p>
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