Procter & Gamble Co reported fourth-quarter sales on Friday that beat analysts' estimates, but warned that rising commodity and freight costs would take a $1.9 billion bite out of its earnings this year.
Unilever, P&G and other major consumer goods manufacturers are touting lower-priced brands and discounts to woo penny-pinching shoppers struggling through the most severe global recession since the Great Depression.
Sales for US consumer goods group Procter & Gamble grew by 9% in Q1 of the current financial year, as the group continues to benefit from rising demand for household detergents and personal care products.
The cosmetics conglomerate is facing a class action lawsuit from shareholders claiming that the company provided misleading information about its acquisitions of the P&G specialty beauty business and Kylie Cosmetics.
The German sport giant has picked an executive from outside the group to take charge of the French market, as Mathieu Sidokpohou, formerly global vice-president at Danone, replaces Guillaume de Monplanet.