Procter & Gamble Looks Overseas to Boost Sales
CINCINNATI (AP/KMOX) — Procter & Gamble Co. expects offering more products in big emerging markets will help offset sluggish sales in the United States and other developed countries.
P&G CEO Bob McDonald and the Cincinnati-based company’s chief financial officer, Jon Moeller, met with investors Thursday at a Barclays Capital conference in Boston.
McDonald says the maker of Pampers diapers, Gillette shavers and Pantene shampoo has bolstered sales in Brazil, Russia, India and China by more than doubling the product categories it competes in there over the last 18 months. That has accelerated double-digit sales growth in those countries.
He also sees huge potential for expanding P&G health care product sales from a partnership with Israel-based drug maker Teva Pharmaceutical Industries Ltd., expected to become final by year’s end.
P&G shares slipped 7 cents to $62.65 in morning trading.
P&G employs more than 400 at a manufacturing plant in St. Louis. It makes Cascade, Febreze, Swiffer, and Mr. Clean products.
Copyright Associated Press/KMOX Radio