P profit falls on strong dollar BENGALURU: Procter Gamble Co (P maker of Ariel detergent and Gillette razors, reported an 8.
3% fall in third quarter profit, hurt partly by a slowdown in consumer spending in the United States and a stronger dollar. P louis vuitton bracelet with lock adjusted earnings of 96 cents per share, however, beat Wall Street estimates by 2 cents even as quarterly net sales came in below expectations. Consumer spending in the United States braked sharply in the first three months of the year, with retail sales falling in both February and March louis vuitton bracelet siambrandname and consumer prices dropping for the first time in just over a year. On the other hand, the US dollar rose about 3.6% in the March quarter, on an average, compared with a quarter earlier, spurred by investors betting on the so called trade A strong dollar makes US goods less competitive abroad, and foreign earnings less valuable when converted into dollars. P whose brands are sold in more than 180 countries, has been selling off unprofitable brands and focusing on core brands such as Tide and Pampers to revive sluggish sales. It sold buy louis vuitton agenda refill 41 of its brands, including Clairol and Wella, to Coty Inc in a US$12.5bil deal in October. The company quarterly sales have fallen for more than three years due to louis vuitton bags how to tell real from fake the company cutting its brand portfolio. P which traces its roots to a family run candle and soap business in 1837, maintained expectations of a mid single digit rise in full year adjusted earnings per share growth, and a 2% 3% increase in organic sales growth. Organic sales in P two largest businesses fabric and home care, and baby, feminine and family care rose 1% during the quarter. Organic sales at its grooming business fell 6%. The consumer goods giant, whose iconic brands include Tide, Pampers, Head and Shoulders and Vicks, said net sales fell about 1% to US$15.61bil the 13th straight quarter of declines. Analysts had been looking for US$15.73bil, according to Thomson Reuters I/B/E/S. Net income attributable to the Cincinnati, Ohio based company declined to US$2.
52bil, or 93 cents per share, in the three months ended March 31, from US$2.75bil, or 97 cents per share, a year earlier. Reuters.
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