Tuesday 15 June 2021

P& G To Shed More Than Half Its Brands. How Will It Affect Costs Rica?

COSTA RICA BUSINESS NEWS – (USA TODAY) Procter & Gamble Co. plans to cut more than half of its brands, as the world’s largest consumer products company slims down amid sluggish sales.

The Cincinnati-based firm will shed 90 to 100 brands and focus investment on remaining product lines that comprise more than 95% of company profit, Chief Executive A.G. Lafley said in a conference call with analysts Friday.

“This will be a much simpler, much less complex company,” he said.

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The maker of Pampers diapers and Tide detergent will be left with 70 to 80 brands after selling or discontinuing roughly 100 others. The process is expected to take one to two years.

Procter & Gamble simply has too many brands that do little to drive growth and the upcoming cuts will help change that, said Ali Dibadj, an analyst with Sanford C. Bernstein.
“It’s a small step in the right direction,” he said.

Friday’s announcement is the latest company effort to trim down. In April, Procter announced a $2.9-billion sale of most of its pet food business.

Lafley did not say which brands would remain after the latest trim, but said they account for 90% of sales and have performed better than the company as a whole.

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The new Procter & Gamble will be easier to manage, enabling “faster and more sustainable growth,” Lafley said.

P&G sales fell 1% from the same period a year earlier to $20.16 billion.

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FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

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"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

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