In Reply to: Wait til the 2026 model cars start hitting the dealer lots. auto posted by azbruin on July 30, 2025 at 16:28:50
expensive, just wait...it will get even more expensive.
Reuters:
Procter & Gamble hikes US prices to blunt tariff hit as CEO transition looms
By Jessica DiNapoli and Juveria Tabassum
July 29, 202511:30 AM EDTUpdated 18 hours ago
July 29 (Reuters) - Procter & Gamble (PG.N), opens new tab on Tuesday forecast annual results largely below estimates and said it would raise prices on some products in the U.S., a day after naming insider Shailesh Jejurikar as CEO to steer it through tariff uncertainty.
Economic volatility and "consumer anxiety" stemming from U.S. President Donald Trump's erratic tariff policies and crackdown on immigration and employment status have forced shoppers to temper spending in order to stretch their budgets, executives told Wall Street.
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"There is a level of baseline uncertainty that we reflect in the guidance range," outgoing CEO and company veteran Jon Moeller said on a post-earnings call. "To the extent that people are frustrated with the lack of certainty, and the breadth of the range, trust me, there's no one more frustrated with that than I."
P&G, which makes household basics spanning from Bounty paper towel to Metamucil fiber supplements, forecast fiscal 2026 annual net sales growth of between 1% and 5%, largely below analysts' estimate of 3.09% growth, according to data compiled by LSEG.
Packaged food maker Nestle (NESN.S), opens new tab also said last week consumers in North America remained weak.
Shares of P&G, a bellwether for the consumer goods industry, were up marginally in volatile early trading.
At the same time, P&G's pantry staples like Charmin toilet paper and Dawn dish soap, and demand for new products such as Tide Evo, a laundry detergent tile, have given the company room to raise prices to help offset the approximately $1 billion impact on its costs from tariffs.
P&G, which topped fourth-quarter estimates, said it would raise prices on about a quarter of its products in the U.S. in the mid-single digit range starting this month.