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Procter & Gamble is increasing prices for feminine care products in North America as it looks to offset rising commodity costs.
Prices for feminine care, baby care and adult incontinence products will be going up in September, the company said Tuesday as it released financial figures for the third fiscal quarter.
P&G did not specify which brands, but vice chairman and chief financial officer Jon Moeller said sub brands in those three categories would be impacted. P&G owns Tampax, Always, Luvs, Pampers and other major brands.
“The commodity cost challenge we face this year has become more difficult,” said Moeller on a call with media Tuesday. “Our baby care, feminine care products businesses have announced price increases in North America that will go into effect. The exact amount of increase varies by brand and sub brand and the range of mid high to single digits. As opportunities allow, we will couple price increases with new product innovations, adding value for consumers along the way.”
For the quarter, P&G posted net sales of $18.1 billion, up 5 percent year-over-year. Net earnings were $3.2 billion.
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Beauty net sales were up 9 percent to $3.3 billion, due to increases in SK-II sales, innovation in North America skin care and increased pricing, the company said. Hair care sales increased in China.
P&G’s Grooming division saw net sales increase 4 percent to $1.4 billion, boosted by appliances, which were up 20 percent. Women’s razor sales were up, while men’s blades and razor sales were down, “due to decreased shave frequency,” P&G said.
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