The Procter & Gamble Company (PG) reported results for the first quarter of fiscal 2010 with earnings of 97 cents per share, in line with the Zacks Consensus Estimate but down 5.8% year-over-year. Net sales for the quarter declined 5.6% year-over-year to $19.8 billion, as a 3% benefit from pricing and 1% benefit from product mix was fully offset by a 3% decline in unit volume -- a 7% unfavorable impact of foreign currency and a 1% impact of divestitures. However, successful product launches, supported by marketing initiatives, contributed to the top line. Organic sales grew 2% during the quarter driven by pricing and product mix. All three Global Business Units (GBU) witnessed revenue declines during the quarter. The Beauty segment declined 5%, with the low single-digit growth in retail hair care volumes offset by the double-digit decline in Professional salon volume and mid-single-digit decline in female ...

The Procter & Gamble Company (PG) presented today at the Sanford C. Bernstein & Co. Strategic Decisions Conference. Management outlined plans that should drive the company's long-term growth, mainly by accelerating new product innovation, expanding deeper into emerging markets, and continuing cost-cutting efforts through the process simplification and productivity enhancement.Management is committed to improving Procter & Gamble's position in the faster-growing emerging markets, where 80% of the world's population resides but currently represents only 31% of Procter & Gamble's total sales. Eight years ago, emerging markets only accounted for 21% of Procter's sales.Higher raw material costs continue to restrain gross margin expansion. Over the past three years commodity costs have increased by $6 billion, of which about 75% has been offset by pricing. The incremental input costs due to rising commodity costs was $0.5 billion in fiscal 2007, $1.5 billion in fiscal 2008, and ...

Highlights include Starwood Hotels & Resorts Worldwide, Inc. (HOT), Marriott International, Inc. (MAR), Winnebago Industries, Inc. (WGO), The Procter & Gamble Company (PG) and Del Monte Foods Co. (DLM).One of the most disturbing things about the housing bubble and its subsequent bursting -- and the resulting financial crisis -- has been the effect it has had on the wealth of the middle class, particularly those who are approaching retirement.Rising asset values, both in equities and real estate, lead people to save less than they might ordinarily have in the absence of a bubble. While this "extra" disposable income was certainly a boost to the economy on the way up, it is going to have devastating long-term consequences.Quite simply, most of the largest generation of Americans ever will not be able to retire. The only assets that are not ...

The Procter & Gamble Company's (PG) management is committed to a growth strategy based on (1) driving volume through product innovation and increasing penetration into developing markets and (2) expanding profitability by focusing on higher margin categories.The plan is meeting with success in terms of top-line expansion, volume growth, and higher earnings. Though the Gillette acquisition was accretive to earnings in fiscal 2008, the gross margin was negatively impacted by increased commodity and energy costs.Taking advantage of recent market weakness that drove P&G's stock to an attractive valuation level, the stock was upgraded to a Buy. The target price of $72.50 is based on a 20 P/E on trailing 12-month earnings.Read the full analyst report on PG "PG" Free Stock Analysis: Buy? Sell? Hold?Zacks Investment Research