Procter & Gamble, household products rival Clorox report 4Q earnings, look ahead
By APTuesday, August 3, 2010
Summary Box: P&G, Clorox report 4Q earnings
TOUGH COMPETITION: Consumer products makers Procter & Gamble Co. and Clorox Co. reported sales rose in the fourth quarter, but promotional spending helped undermine profits.
WHAT THEY’RE BUYING: P&G saw good sales for its new Gillette Fusion ProGlide razor, revamped Pantene shampoo and Old Spice body washes. Clorox says it sold more Hidden Valley salad dressings, Burt’s Bees products and Glad trash bags.
LOOKING AHEAD: P&G expects an uneven U.S. economic recovery, but projects more sales growth in the coming year. Clorox also expects sales growth in a 2-4 percent range.
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