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Consumer Giants Are Winners as Shoppers Swallow Price Hikes

Started by Epoch-Times-Bot, Oct 19, 2022, 11:15 AM

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Epoch-Times-Bot

Oct 19, 2022, 11:15 AM
Consumer Giants Are Winners as Shoppers Swallow Price Hikes

ZURICH/LONDON—Nestle and Procter & Gamble, the world’s two biggest consumer firms, reported better-than-expected sales on Wednesday, as shoppers continued to pay more for goods like Nescafe coffee and Gillette razors despite record inflation.
Nestle, which also makes Cheerios cereal and KitKat chocolate bars, reported better-than-expected sales results, successfully passing higher costs on to shoppers as rocketing food prices around the world drive record inflation.
Similarly, Tide detergent maker P&G beat estimates for quarterly sales and profit, helped by price hikes on everything from Head & Shoulders shampoo to Gillette razors, even as a stronger dollar weighed on its revenue from overseas markets....

Source: Consumer Giants Are Winners as Shoppers Swallow Price Hikes

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