Procter & Gamble’s quarterly sales have dipped, the result of declining demand for its beauty products in China.
The Olay owner reported net sales of US$21.7bn for the July to September fiscal quarter (Q1 2025), a decrease of 1% versus the prior year.
Organic sales, excluding the impacts of foreign exchange and acquisitions and divestitures, increased 2%.
The FMCG giant’s beauty business was a particular casualty with organic sales down 2% as a result of a skin care slump.
Skin care organic sales declined more than 20%.
According to P&G, this was due to volume declines and lower sales of its super-premium SK-II brand.
Also within P&G’s beauty segment, hair care organic sales increased in the low single digits.
Here, growth in North America, Europe and Latin America was somewhat offset by volume declines in China.
Personal care organic sales, meanwhile, increased in the high single digits.
The US company’s grooming business – which includes shaving players Gillette and Braun – saw organic sales increase 3% versus year ago.
P&G said it still anticipates full year 2025 net sales growth in the range of 2-4% versus the prior year, anticipating organic sales growth of between 3-5%.
