THE MAKER of Pampers diapers beat estimates for quarterly sales and profit yesterday, as price hikes on everything from Head and Shoulders shampoo to Tide detergent helped blunt the impact of higher raw material costs and a stronger dollar.

Shares of Cincinnati, Ohio-based Procter & Gamble (P&G) rose nearly three per cent in yesterday morning trading, as the firm maintained its fullyear organic sales growth forecast even as inflation starts to put a squeeze on consumer spending.

Despite demand for household consumer goods falling at a slower pace than discretionary products like apparel and electronics, some retailers, worried that they may not be able to clear overstocked shelves, are starting to push back on price hikes from P&G and other companies. P&G said it is trying to make sure retailers carry products at a variety of prices from across its portfolio.

Reuters

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