CLAIM #49083 · Procter & Gamble Company (PG) · 2024Q3 earnings call · Apr 19, 2024 · due Jun 30, 2024
“The laundry recall, it was a very limited recall on a packaging defect on 1 SKU on Tight PODS...It's no impact or very limited impact actually on the quarter or the fiscal year.”
Andre Schulten · CFO
In context
“? There was some recalls in Tide PODS recently, so maybe you could talk about any potential impact from that in Q4. And then longer term, you announced the innovation on Tide EVO, so maybe some color on the rollout of that brand and the product and your expectations? Andre Schulten: Yes. Hi, Filippo. You're right. We hope U.S. market growth continues in the high 4s, low 5s, and I think the trend line is pointing in that direction. And unless we see any major inventory reduction, I would expect us to continue to trend in that same direction. We are driving market growth in most of our categories in the U.S., and that should mathematically then result in stable to increasing shares both on the volume and value side. And that's certainly the objective the team has on all the U.S. businesses. The laundry recall, it was a very limited recall on a packaging defect on 1 SKU on Tight PODS. Out of an abundance of caution, the team decided to recall the product. It's no impact or very limited impact actually on the quarter or the fiscal year. And again, that product itself is safe, so no issue with the product. It was a small packaging defect, but in any case, the team decided to go ahead and recall. We're very excited about the EVO innovation. The fiber spinning innovation has been one of our core developments, so seeing it in market is exciting, but it's very early. So we run these test markets to validate product market fit, validate the commercial execution, validate everything from packaging color to packaging sizes. And it'll take us a few months before we have anything of substance. But yes, the innovation is very exciting, but it will take time before it has an impact on overall laundry growth in the U.S. Operator: The next question comes from Rober”
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SEC filings for PG ↗ · Claim quote is verbatim from the 2024Q3 earnings call.