Procter & Gamble Half-Year Report 2023
Net sales in the second quarter of fiscal year 2023 were $20.8 billion, a one percent decrease versus the prior year. Unfavorable foreign exchange had a six percent impact on net sales. Organic sales, which exclude the impacts of foreign exchange and acquisitions and divestitures, increased five percent. The organic sales increase was driven by a ten percent increase from higher pricing and a one percent increase from positive product mix, partially offset by a six percent decrease in shipment volumes.
- Beauty segment organic sales increased three percent versus year ago. Skin and Personal Care organic sales increased low single digits due to innovation-driven volume growth and higher pricing, partially offset by negative mix from COVID-related declines in SK-II. Hair Care organic sales increased mid-single digits driven by increased pricing, partially offset by volume declines due to market contraction.
- Grooming segment organic sales were unchanged versus year ago as higher pricing was fully offset by volume decline and negative mix, due to market contraction and retailer inventory reductions of appliances.
- Fabric and Home Care segment organic sales increased eight percent versus year ago. Fabric Care organic sales increased high single digits due to increased pricing, partially offset by volume declines due to market contraction and increased pricing, primarily in Europe. Home Care organic sales increased high single digits due to increased pricing, partially offset by volume declines versus a high base period of increased consumption of cleaning products.
