P&G’s Price Hikes Offset Slowed China Growth

The Olay, Gillette and Pantene owner reported 2023 fiscal year net sales increased two percent to $82 billion.

For the fourth quarter, Procter & Gamble saw net sales of $20.6 billion, an increase of five percent year-over-year. Organic sales increased eight percent, which the conglomerate attributed largely to price increases.

Its beauty division, specifically, saw the effects of price hikes — seeing 11 sales percent growth year-over-year —…