Emily Tan
Apr 27, 2017

P&G plans $2 billion more in marketing cuts as sales fall

Company eyes $500 million in additional savings from reduced agency fees and ad production costs, and the same amount for in-store costs, direct-to-consumer and sampling.

P&G hailed SK2's 'change destiny' as a model campaign.

PG's net sales for the third quarter of 2017 dropped by 1 percent versus the prior year, to $15.6 billion.

The FMCG giant blamed the decline on a slowdown in market growth, continued geopolitical disruptions and foreign exchange challenges.

Meanwhile, organic sales increased 1 percent, driven by a 1 percent increase in organic shipment volume.

Against this backdrop, we delivered modest organic sales growth and double-digit Core EPS...

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