Procter and Gamble to raise prices to offset tariff costs
Summary
Procter & Gamble plans to increase prices on a quarter of its products in the U.S. due to costs from tariffs imposed by former President Trump. The company appointed Shailesh Jejurikar as its new CEO while also announcing expectations for slower sales growth due to a challenging economic environment.Key Facts
- Procter & Gamble is increasing prices on some products in the U.S. starting this month because of tariff-related costs.
- Shailesh Jejurikar was named the new CEO of Procter & Gamble.
- The company tells retailers like Walmart and Target that prices will go up by a mid-single-digit percentage.
- Despite topping fourth-quarter earnings estimates, P&G expects slower growth in fiscal 2026.
- P&G forecasts annual sales growth of 1-5% for fiscal 2026, lower than expected.
- Tariffs are expected to raise P&G’s costs by about $1 billion before tax for fiscal 2026.
- P&G is also restructuring, planning to cut about 7,000 jobs over the next two years to improve productivity.
- The company's stock has decreased by 0.5% over the last five days and 5.15% since the start of the year.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
