Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

P&G to hike prices on household staples

04/20/2021 | 11:56am EDT

Consumer products company Procter & Gamble - which beat quarterly sales and profit estimates on Tuesday - announced it will start charging more for household staples.

The global health crisis has boosted sales of P&G's hygiene and washing products such as Charmin toilet paper and Tide laundry detergents for over a year, as consumers stockpiled on essentials and cleaning supplies to stay prepared for lockdowns.

With the demand still up, P&G maintained its annual sales growth at 5% to 6%.

And raised its planned share buybacks for fiscal 2021 by $1 billion to $11 billion.

However, the rollout of vaccines and people starting to return to more relatively normal lives have raised doubts over how long that level of growth can be maintained.

Another challenge: commodity prices are rising.

To offset that P&G said it will hike prices on baby care, feminine care and adult incontinence products.

It's the latest consumer-products company to announce price hikes amid pressure by recent increases in cost of raw materials such as pulp, recycled fiber and resins.

Rival Kimberly-Clark said in March that it would hike prices of its Scott toilet paper, tissues and diapers in North America by similar levels as P&G, starting June.


ę Reuters 2021
Latest news "Economy & Forex"
05:51pU.S. State Dept approves potential sale of AEGIS Combat System to Canada -Pentagon
RE
05:36pNo evidence Russia involved in Colonial Pipeline hack -Biden
RE
05:36pU.S. didn't offer ransom advice to Colonial Pipeline, but may in future - officials
RE
05:36pU.S. pipeline hackers say their aim is cash, not chaos
RE
05:36pWORLD BANKá : Greening public investments in Africa -- Where can finance ministries start?
PU
05:35pDow Jones Industrial Averageá: U.S. stocks retreat from record high, dollar near 10-week low
RE
05:35pU.S. stocks retreat from record high, dollar near 10-week low
RE
05:30pQueen Elizabeth to set out UK government's post-pandemic agenda
RE
05:28pOil settles higher as key U.S. fuel pipeline plans restart
RE
05:27pU.S. pump prices head for highest since 2014 as hacked fuel pipeline shut
RE
Latest news "Economy & Forex"