J&J reports decline in sales but remains optimistic
Skin care sales were positive throughout 2010
Beauty and health care giant Johnson & Johnson has reported sales of $15.6bn for the fourth quarter of 2010, a decrease of 5.5% compared to the same period in 2009. Domestic sales declined 8.1% while international sales declined 3.1% and net earnings were $1.9bn.
Meanwhile worldwide sales for the full year 2010 were $61.6bn, which represented a decrease of 0.5% over previous year. Domestic sales declined by 4.7% while international sales increased 3.6% with net earnings for the full year standing at $13.3bn.
Sales of skin care products for J&J’s brands Aveeno, Dabao and Johnson’s contributed positively to the operational sales results.
Announcing the results, chairman and chief executive officer William C. Weldon commented: “Although 2010 was a challenging year, the business continued to deliver earnings growth, while investing in the future and emerging a stronger organization.”
He added: “While we will continue to see near-term pressures on the business for 2011, we remain committed to investing in innovative products, a robust pipeline and talented people.”