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P&G Marketing Up 9%; Earnings Jump Overseas

Procter & Gamble increased marketing spend by 9% and watched its earnings jump 7.9% last quarter, largely on the strength of strong sales overseas and several successful launches.

Grooming net sales jumped 13% to $2 billion. Blades & Razors volume was up in the "high single" digits on the successful expansion of Fusion and the launch of the five-blade Venus Embrace, the company's female-skewed razor, in North America. Beauty sales were up 9% though sales for Pantene declined, but volume was up for the hair color category in the "mid-single digits" because of the Nice 'N Easy Perfect 10 launch and in cosmetics behind the Cover Girl Lash Blast mascara launch in September 2007.

Snacks, coffee and pet care net sales increased 11% to $1.2 billion. Fabric and home care net sales rose 10% to $5.8 billion partially because of Tide's liquid laundry compaction program. The company announced last May that it would replace its line of liquid detergents with a "2X" or 50% compacted version that offer the same number of laundry loads in a package half the size.

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