P&G Cuts Outlook As Consumers Pull Back Amid Tariffs

Source: International Business Times

Procter & Gamble, owner of Crest and other big consumer brands, trimmed its outlook, noting the drag of tariffs and a weakening economic outlook AFP Procter & Gamble cut its sales and profit forecast Thursday, citing a pullback in consumer behavior as uncertainty over tariffs and the economy cloud the picture. P&G, whose brands include Tide detergent and Crest toothpaste, now sees flat sales for its current fiscal year after previously projecting growth of as much as four percent. Executives also signaled likely price increases due to tariffs after trimming the full-year profit increase to a range of six to eight percent per share from the prior 10-12 percent range.