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P&G reports $71B in sales, 5% increase amid pandemic

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Posted at 7:44 PM, Jul 30, 2020
and last updated 2020-07-30 19:44:23-04

CINCINNATI — The Cincinnati-based Procter & Gamble Company reported net sales of $71 billion in fiscal year 2020, a 5% increase from last year, despite the ongoing pandemic.

In the last quarter of fiscal 2020, which saw a rise in coronavirus cases across the country, P&G reported net sales of $17.7 billion, a 4% increase.

The company’s Fabric and Home Care segment organic sales increased 14% for the quarter. Fabric Care organic sales increased high single digits while Home Care organic sales increased more than 30%, “driven by the increased consumer demand for home cleaning and dish washing products, innovation, positive product and geographic mix and higher net pricing due mainly to reduced promotional activity.”

The Baby, Feminine and Family Care segment organic sales increased 5% compared to 2019. Family Care organic sales increased more than 20%, “driven by increased consumer demand and higher net pricing due to reduced promotional activity.”

Health Care organic sales increased 2% for the quarter, with Personal Health Care organic sales increasing by “double digits.”

Beauty organic sales increased 3% compared to 2019 while grooming organic sales decreased 1% compared to 2019.

P&G returned $15.2 billion of value to shareholders through $7.8 billion in dividend payments and $7.4 billion of share repurchases in the fiscal year.

P&G CEO, President and Chairman David Taylor said the company is “prioritizing employee health and safety” while maximizing availability of P&G products for worldwide consumers’ daily health, hygiene and cleaning needs.

“We expect to grow through this crisis and come out even stronger on the other side,” Taylor said in the report. “We delivered strong, balanced sales and profit results in fiscal 2020, both pre-COVID and through the balance of the year, meeting or exceeding each of our going-in targets, demonstrating the commitment and agility of P&G people and the robustness of our strategy.”

P&G brands include Tide, Bounty, Charmin, Crest, Dawn, Downy, Gillette, Olay, Pampers, and more.

For a complete breakdown of the fiscal year results, click here.