Brand Description

Cincinnati, OH

Sales: $63.0 billion

Key Personnel: Jon R. Moeller, chairman, president and chief executive officer; Shailesh G. Jejurikar, chief operating officer; Gary Coombe, chief executive officer, grooming and executive sponsor, corporate wellbeing; Jennifer Davis, chief executive officer, healthcare; Ma. Fatima D. Francisco, chief executive officer, baby, feminine and family care; R. Alexandra Keith, chief executive officer, beauty and executive sponsor, corporate sustainability; Sundar G. Raman, chief executive officer, fabric and home care; Andre Schulten, chief financial officer

Major Products: Fabric care—Ariel, Bounce, Cheer, Downy, Dreft, Era, Gain, Rindex 3 in 1, Tide; Grooming—Braun, Gillette, Joy + Glee, The Art of Shaving, Venus; Hair care—Aussie, Head & Shoulders, Herbal Essences, My Black Is Beautiful, Old Spice, Pantene; Home care—Ambi Pur, Cascade, Dawn, Febreze, Gain, Microban, Mr. Clean, Salvo, Swiffer, Zevo; Oral care—Crest, Fixodent, Oral-B, Scope; Skin care—Ivory, Native, Olay, Old Spice, Safeguard, Secret, SK-II

New Products: Swiffer Sweep + Mop Deluxe, Gain Tango Scent Boosters, Spruce weed & grass killer, Dawn Platinum Plus PowerSuds, Olay Super Serum bodywash, Cascade New & Improved Platinum Plus, Native Limited Edition Collections with Jarritos and Dunkin’, Native Birthday Cake, Secret Strawberry Fizz 

Comments: The world’s biggest fast-moving consumer goods company is getting smaller. Last month, Procter & Gamble announced it will cut 7,000 jobs over the next two years. The restructuring plan also calls for exiting some product categories and brands in certain markets, including some divestures. The job cuts represent about 6.5% of its workforce. Job cuts will affect “non-manufacturing” workers, so the company’s 52,000 employees in factories (including 24 manufacturing plants in the US and 78 plants in 33 other countries) won’t be targeted. If true, P&G is expected to cut its office staff by 15%.

The moves come at a time when business leaders in every segment try to prepare for the great unknown. At the Deutsche Bank Consumer Conference in Paris last month, CFO Andre Schulten and COO Shailesh Jejurikar said the geopolitical environment was “unpredictable” and that consumers were facing “greater uncertainty.”

An Increase in Volatility

At the DB conference, P&G CFO Andre Schulten noted “The point of volatility impacting our business have only increased as the current year has progressed. We see now a deceleration because of uncertainty in the consumer space, all of the tariff conversations, geopolitical uncertainty.”

Last year, 52% of P&G corporate sales came from outside the US. P&G executives estimate tariffs will cut profitability by $600 million before taxes.

At the DB event, P&G said fiscal 2025 sales will rise 2%—it’s worst performance in at least seven years, Moreover, excluding the core markets of the US, China, Japan, Canada and Western Europe, sales are expected to grow just 1%.

Sales were already slowing in Q3. Beauty and grooming sales each declined 2%. Healthcare sales were flat. Fabric & homecare declined 3% and baby, feminine and family care dropped 4%.  

What Happened in Fiscal 2024?

In fiscal 2024, corporate sales rose 2% to $84.0 billion. By segment, fabric & homecare sales accounted for 36% of corporate sales, followed by baby, feminine & family care (24%), beauty (18%), health care (14%) and grooming (8%).

Beauty sales increased 1% to $15.2 billion, but unit volume was flat. Haircare sales increased mid-single digits. The gains were attributed to higher pricing, especially in Latin America, Europe and North America. Skin and personal care sales fell low single-digits, primarily due to the decline of SK-II sales. But unit sales rose thanks to gains in North America and Europe.

Grooming sales increased 4% to $6.7 billion thanks to an 8% increase in pricing and a 1% increase in unit volume, partially offset by unfavorable forex. 

Healthcare sales, which include the oral care business, increased 5% to $11.8 billion. Oral care net sales increased mid-single digits thanks to favorable product mix and higher prices. Those gains, however, were tempered by a decrease in unit volume. 

Fabric and homecare represent P&G’s largest business segment. Sales rose 4% to nearly $29.5 billion. The company credited fabric care gains to higher prices, driven by Europe, Asia-Pacific and Latin America. The gain was partially offset by

By region, North America accounted for 52% of corporate sales in fiscal 2024. Europe was next, at 22%, followed by Latin America, Greater China and Asia Pacific, each with 7% share. India, Middle East and Africa (IMEA) accounted for 5% of sales.