P&G CEO gives shareholders his word company business is strong
CINCINNATI Procter & Gamble chairman and chief executive officer A.G. Lafley reassured uneasy shareholders at its annual shareholder meeting on Oct. 14 that the company’s business was steady.
“While the economic environment remains volatile and uncertain, I am confident that P&G can and will continue to prosper over the long term,” Lafley said.
According to published reports, Lafley cited P&G’s record of years of steady earnings and sales growth, and explained that P&G has been boosting productivity, controlling costs and adding innovations to its broad product portfolio. The portfolio includes 24 brands with annual sales of $1 billion or more and 20 others with sales between $500 million and $1 billion.
They are brands that, according to Lafley, “are built to growth through any economic cycle.”
Echoing that sentiment, Morgan Stanley analyst William Pecoriello stated earlier in October in a research note, “Our recent meeting with management confirms our view that P&G should remain a safe haven during the key macro uncertainties ahead.”
P&G is scheduled to release quarterly earnings on Oct. 29.
Naterra buys Baby Magic business from Ascendia
MINNEAPOLIS Naterra International has announced its purchase of Baby Magic, the maker of assorted baby care products, published reports have said.
Naterra, maker and distributor of personal care products, bought Baby Magic from Ascendia Brands on Oct. 8. Naterra will take over marketing and distribution of Baby Magic’s entire line, the companies said. Popular baby care items include Baby Magic gentle baby wash, Baby Magic baby lotion and Baby Magic creamy baby oil.
The acquisition of Baby Magic is “an opportunity to build upon Naterra’s 85 year-old tradition and dedication in developing results driven personal care products which has built incredible consumer loyalty,” vice president of sales and marketing for Naterra International, Todd First, told online consumer reporting blog Happi.com.
Sante Active releases three-piece foot care set
CASTRES, France Sante Active, which is owned by pharmaceutical and dermacosmetic company Laboratories Pierre Fabre, has packaged three key foot care products into one three-piece set.
The Pedi-Relax three-piece set includes the intense hydrating cream for dry and damaged feet, exfoliating cream for dry feet with calluses, and a protective barrier cream that provides a protective barrier between feet and shoes. The kit is priced at $19.99.
Additional products in the Pedi-Relax line include moisturizing massage cream, moisturizing repair cream and refreshing deodorant spray for feet.