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The Procter & Gamble Company (PG) investor relations material

The Procter & Gamble Company Morgan Stanley Global Consumer & Retail Conference 2025 summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Morgan Stanley Global Consumer & Retail Conference 2025 summary2 Dec, 2025

Market environment and performance

  • U.S. market remains volatile with cautious consumers and strong competition, but current consumption run rates are expected to hold, leading to low single-digit organic sales growth in the second half.

  • Latin America and China show strong momentum, with China undergoing a major business model overhaul and achieving 5% growth in the last fiscal quarter.

  • Western Europe is experiencing slight market slowdown but maintains positive price mix and has returned to share growth despite increased competition.

  • Private label shares are stable or slightly down in Europe, with branded innovation and retailer partnerships proving effective.

  • Promotion frequency is back to pre-COVID levels, but depth remains stable, supporting a constructive competitive environment.

Innovation and growth strategy

  • Innovation ramp-up began over two years ago, shifting focus from price-driven growth to volume and category growth through consumer-centric product development.

  • Recent launches, such as the major upgrade to Tide Liquid, have driven share growth, with strong innovation plans across all categories for the second half.

  • Success in China and Latin America is attributed to external focus, simplified processes, and deep understanding of consumer and retail environments.

  • The U.S. and Europe are adopting similar playbooks to drive growth and competitiveness.

  • Organizational restructuring aims to eliminate complexity, focus on core brands, and reallocate resources to high-potential markets and innovations.

Restructuring and productivity

  • The restructuring program is designed to create financial flexibility for growth investments, simplify organizational structure, and focus on core business areas.

  • Teams are being downsized and empowered, with increased automation and AI tools supporting decision-making and efficiency.

  • Portfolio adjustments include divesting small brands and shifting to distributor models in challenging markets to optimize resource allocation.

  • Annual productivity savings of $2–2.2 billion are maintained, supporting earnings visibility and long-term growth targets.

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Frequently asked questions

Consumer Goods Giant

Procter & Gamble (P&G) is an American multinational consumer goods corporation headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, the company began its journey as a small soap and candle-making business. Today, P&G has grown into one of the world's leading and most diversified consumer products companies. Some of its most recognized brands globally include Tide, Pampers, Gillette, Olay, and Oral-B.

Cincy Roots

Founded in 1837, P&G has its roots deeply embedded in Cincinnati, Ohio. It was in this bustling river city that two immigrants, William Procter, an English candlemaker, and James Gamble, an Irish soapmaker, formed their partnership. The newly formed company quickly saw success and expansion, but P&G's headquarters remained in Cincinnati, cementing its historical ties to the city. This longstanding relationship has seen P&G play a vital role in the city's economic and social fabric, with its legacy intertwined with the history and growth of Cincinnati itself.

One of the Industry Leaders

P&G is a multinational consumer goods corporation that specializes in producing a wide range of daily-use products across several categories. These categories include cleaning agents, personal care, health care, beauty, and baby care, among others. In the global market together with companies such as Unilever and Colgate-Palmolive, P&G holds a position as one of the leaders in the consumer goods sector. Its expansive brand portfolio, large-scale operations, and consistent product innovation have allowed it to garner a broad consumer base and substantial market share in various segments. The company's strategy has historically revolved around understanding consumer needs and delivering high-quality products, backed by significant research and development.

Acquiring Well-Known Brands

Procter & Gamble has since the very beginning believed in growing and diversifying its product portfolio, and one effective way it has achieved this is through strategic acquisitions.. One of its more notable acquisitions is Gillette, which not only gave P&G a stronger foothold in the male grooming market but also brought along iconic brands like Duracell and Oral-B. Another standout is SK-II, a luxury skincare brand that P&G owns, showcasing its versatility in catering to both mass-market and luxury segments.

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