At P&G, Beauty is up 4%, but Grooming is Down 8%, in Q3

SK-II continues to drive P&G sales. The luxury skin-care brand was called out in the company’s third quarter earnings statement for its “disproportionate growth.” Broadly in P&G beauty, net sales were up 4 percent to nearly $3.1 billion, driven by high-end innovation, increased pricing and SK-II. Hair was up mid-single digits with organic growth in developing and developed countries, plus increased pricing. Grooming, on the other hand, has continued to struggle, and posted a net sales dip of 8 percent in the quarter with $1.4 billion in sales. “The benefit of devaluation-driven price increases were offset by unit volume declines,” P&G said in its earnings release. Organic sales of appliances were down in the mid-single digits as shoppers went for mid-range products. Overall, P&G posted $16.5 billion in net sales for the third fiscal quarter, up 1 percent versus the prior year. Organic sales were up 5 percent, driven by an increase in shipment volume and pricing. Net earnings were $2.78 billion, and diluted net earnings per share were $1.04, a 9 percent increase from the prior-year period. P&G is forecasting 1 percent sales growth for fiscal 2019, which includes the negative impact of foreign exchange and positive impact from acquisitions and divestitures. P&G sold

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