- The Washington Times - Wednesday, April 26, 2017

In light of a first-quarter dip in money spent on household staples, industry leaders like PepsiCo and Kimberly Clark are “sounding a cautious note on shopper spending,” The Wall Street Journal reported Wednesday.

“Overall purchases of consumer packaged goods in the U.S. declined 2.5% in unit terms in the first quarter, according to Nielsen,” the Journal reported.

The news comes amid something of a price war among the major brands in non-perishable grocery staples, as companies compete for share of a market that isn’t growing to the extent other sectors of the economy are.

“The 20 largest consumer packaged goods companies last year had flat sales while smaller ones posted sales growth of 2.4%,” reported the Journal, citing Nielsen research data.

A strong U.S. dollar has also been to blame for the weak performance of global industry leaders like P&G, Business Insider reported Wednesday.

“We continue to deal with an unprecedented amount of geopolitical disruption and uncertainty, which is affecting market growth, currencies and commodities,” Chief Financial Officer Joe Moeller said, reported Business Insider. “We’re aggressively driving cost savings to mitigate these impacts.”


Copyright © 2018 The Washington Times, LLC. Click here for reprint permission.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide