This Dividend King Has Another Headwind to Fight
Although Procter & Gamble's (NYSE: PG) latest quarterly results weren't quite as good as the previous ones, the consumer goods giant still found success as it could pass rising costs on to consumers. On that basis, the company reported a strong fiscal first quarter (Q1 FY2023). However, one uniformly negative change was the strength of the dollar. This headwind is likely to get worse before it gets better.
Procter & Gamble was able to increase organic sales by 7% in the just-ended fiscal first quarter of 2023. That comes after the consumer staples company was able to put up 5% sales growth in fiscal 2022. That was driven by a trifecta of success, with prices going up, volume rising, and consumers switching to higher-priced items.
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Source Fool.com
