16699 Wed, 08/05/2009 - 11:49am
CINCINNATI--Net sales of Procter & Gamble’s grooming products fell 9 percent in the company’s fiscal year ending June 30, pulled down by what a company statement described as a “sharp decline” in sales of Braun products.
Braun’s sales declined by double digits because of market contractions, trade inventory reductions and the exits of both the U.S. home-appliance and Tassimo coffeemaker businesses. The Braun dropoff offset more positive results from sales of P&G’s Gillette Fusion brand of premium-priced shavers and blades.
P&G as a whole saw net income decline 18 percent in its fiscal fourth quarter to $2.5 billion, but also reported an 11 percent gain in net income for the fiscal year, to $13.4 billion.