Procter & Gamble Raises Its Outlook After a Strong Q1
It didn't take long for Procter & Gamble (NYSE: PG) to abandon its conservative fiscal 2021 outlook. The consumer staples giant on Tuesday raised its guidance after sales jumped in Q1, which runs through late September.
Organic sales rose 9% in that period, marking an acceleration over the prior quarter's 6% increase. Gains came from each of its core product divisions, but the laundry care and healthcare divisions were standout performers. Executives noted continued strong demand for products like Tide detergent and the Surface cleaning brand as consumers prioritized home cleaning spending.
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Source Fool.com