P&G To Cut Some Prices,Sees Return To Sales Growth

Fighting a sales slump as consumers pull back from its higher priced items, Procter & Gamble Co. (PG) said it is cutting prices and increasing promotions across nearly 10% of its household brands.

The consumer giant expects the price cuts and improved marketing to revive sales growth later this year, signaling some turnaround in its business and helping to reassure investors concerned about the company's prospects as consumers slash spending.

P&G projected organic sales growth of 1% to 4% for its second quarter ending in December, a turnaround that would come after two consecutive quarters of declines. The stock, a component of the Dow Jones Industrial Average, was recently up 4.6% to 56.19.

Read Full Article from CNNMoney.com

- Posted: 2009-09-10 10:59:28

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