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Despite life slowly inching back to normal, Procter & Gamble is still benefiting from consumers’ new cleaning habits during the pandemic.
The maker of Tide, Bounty and Dawn reported today that net sales increased 5% to $18.1 billion for the quarter ending March 31. The amount beat Wall Street’s estimates, according to S&P Global Market Intelligence. The Cincinnati-based company’s largest gains came from its beauty, fabric and home-care segments.
“We strengthened our business position during the crisis, and we believe P&G is well-positioned to serve the heightened needs and new behaviors of consumers and our retail and distributor partners post-crisis,” said Jon Moeller, P&G’s chief operating officer, during an earnings call with the media.
Increased sales of cleaning products
A quarter of U.S.