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Procter & Gamble Quarterly Sales Below Estimates, Shares Fall

Published on Jul 31 2018 2:27 PM in A-Brands tagged: Featured Post / Procter & Gamble / Gillette / Paywall / quarterly results

Procter & Gamble Quarterly Sales Below Estimates, Shares Fall

Procter & Gamble Co.'s quarterly sales fell below Wall Street estimates on Tuesday, as the consumer products company had a disappointing performance at its grooming unit, which makes Gillette razors and shaving products.

Shares of Procter & Gamble fell 2% before the bell.

The company cut prices on products in the grooming business by 3% to claw back market share lost to upstarts such as Dollar Shave Club. Sales in the unit fell by 1%, to $1.65 billion, while volumes dropped by 1%.

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