CLAIM #48948 · Procter & Gamble Company (PG) · 2023Q3 earnings call · Apr 21, 2023 · due Jun 30, 2024
“As Andre said in his prepared remarks, we expect China to continue to contribute at a meaningful level over the middle- to long-term.”
Jon Moeller · CEO
In context
“ore than a week there. It was wonderful to reconnect with our organizations, who are doing a tremendous job. We spent time in consumer homes. We spent time with our retail partner leaders in their stores and in their offices. And of course, we spent time with various government authorities. And without getting into all the details, the bottom-line conclusion was a very positive one, and much more than I was expecting even, and I'm kind of a China fan having worked there many years ago and having lived there. So, my expectation has already started high and those were exceeded. Having said that, and we talked about this on the last call, this is not going to be a vertical restart. And there will be a number of twists and turns, including some of the ones that you've mentioned along the way. As Andre said in his prepared remarks, we expect China to continue to contribute at a meaningful level over the middle- to long-term. But everything looks reasonably positive and constructive. Andre, do you have any other perspective on that? Andre Schulten: No, I think you said it. I think the other component we're not yet seeing is any return of Chinese consumers to travel retail. That is a significant negative for us in the SK-II business specifically. So that, hopefully, we see a more positive trend there in the near future. That's the only other upside that I think we have. But as Jon said, I think the recovery at 2% organic sales in the quarter is very consistent with what we would have expected. Operator: The next question comes from Robert Ottenstein of Evercore ISI. Please go ahead. Robert Ottenstein: Great. Thank you very much. Just a quick follow-up on -- or clarification on some of the numbers and then my re”
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SEC filings for PG ↗ · Claim quote is verbatim from the 2023Q3 earnings call.