By Yashaswini Swamynathan (Reuters) - Procter & Gamble Co reported its sixth straight quarter of falling sales, hurt mainly by the stronger dollar. Even after stripping out the impact of the dollar and acquisitions, sales rose just 1 percent, raising concerns about the slow pace at which P&G is turning around its business. The company's shares fell as much as 4.3 percent in morning trading on Thursday, after it said sales would fall by a low-to-mid single-digit percentage in the year ending June 2016. P&G, struggling in an increasingly competitive consumer products industry, has been trying to turn itself around since 2014 by focusing on fewer, faster-growing brands. It has also made management changes, including appointing company veteran David Taylor CEO this week. But these moves have failed to convince investors that the company, which gets two-thirds of its revenue from outside the United States, has done enough to get back on track. JP Morgan analysts noted that P&G's volume sales were the weakest in five years. Some analysts question whether P&G is too big and whether it would be better off splitting its businesses into separate companies. Analysts on a conference call grilled executives about why P&G was still struggling to show underlying earnings growth, why steps taken so far have been ineffective and whether the company had a Plan B. "We clearly recognize the need to grow faster ... we're not going to get there in the next quarter or two but we do expect sequential progress as we move through the next fiscal year," Chief Financial Officer Jon Moeller said. Sanford Bernstein analyst Ali Dibadj said P&G should break into three companies — beauty, grooming and health, and home care. P&G has dropped about 50 brands since 2014, of which 43 were sold to perfume maker Coty Inc for $12.5 billion this month. P&G intends to retain a core portfolio of 65 brands, including Tide detergent, Pampers diapers and Gillette shaving products. Neil Saunders, CEO of research firm Conlumino, said P&G needs to get rid of more brands if it wants to turn itself around faster. Net income attributable to P&G fell 80 percent to $521 million, or 18 cents per share, in the fourth quarter ended June 30, mainly due to a $2.03 billion one-time charge related to its Venezuelan operations. Revenue fell 9.2 percent to $17.79 billion. (Additional reporting by Ramkumar Iyer; Editing by Simon Jennings and Kirti Pandey)
This says a lot, despite being only one word.
Trump's 'girth would prevent him from actually getting to the steering wheel' of his SUV, former Secret Service agent says: 'I don't see this president ever being able to do that. Ever'
"Trump's not a little guy, right? And the space to actually be able to lunge towards the wheel is not that big," the former agent told Insider.
Justice Neil Gorsuch fumes that the Supreme Court 'failed' to 'honor this Nation's promises' as it rolled back tribal authority in Oklahoma
Gorsuch's dissenting opinion came as the nation's highest court handed more power to states over Native American lands.
GOP Rep. Ronny Jackson likely didn't receive the answers he was hoping for.
The Washington Examiner published the blistering editorial in the wake of bombshell testimony from the Jan. 6 committee hearings.
- Consequence of Sound
The cover art apparently pays homage to the Renaissance painting of Lady Godiva, as well as Bianca Jagger's grand entrance on horseback at Studio 54 in 1977. Beyoncé Reveals Cover Art for Renaissance Alex Young
The famous public figure's meme centered on Donald Trump's apparent belief that he's entitled to grab whatever he wants.
- The Telegraph
The Prince of Wales enjoyed a “very emotional” first meeting with his granddaughter, Lilibet, a senior royal aide has revealed.
- Golf Channel
ZJ isn't too concerned about how LIV will affect his Ryder Cup squad. Others, however, are more anxious about their future status.
- Rolling Stone
The former president lashed out at former Mark Meadows aide Cassidy Hutchinson, even describing her handwriting as "that of a Whacko"
This isn't the first time he's been hospitalized.
- USA TODAY Sports - Golfweek
Day, who won the 2015 PGA Championship among his 12 Tour titles, is winless for more than three years.
- In The Know by Yahoo
People think he should get a divorce.
The Twitter account of the House Judiciary Committee Republicans had implied Cassidy Hutchinson's testimony before the Jan. 6 panel was "all hearsay."
- USA TODAY Sports - Golfweek
Pat Perez’s outlandish shirt, Fred Couples burying him and Phil Mickelson adding scathing takedowns among latest LIV Golf news
Pat Perez sported a shirt featuring $100 bills to the LIV Golf pro-am party, which seemed fitting.
- Good Morning America
Kevin Bacon has officially joined in on the TikTok "Footloose" challenge. The actor, who played Ren McCormack in the 1984 classic, shared a video of himself trying out the viral dance challenge with his wife, actress Kyra Sedgwick, on Tuesday. The challenge is set to the film's theme song of the same name by Kenny Loggins.
- Rolling Stone
One of the witness tampering messages the Jan. 6 committee displayed on Tuesday was received by the former Mark Meadows aide, according to Punchbowl News
Secret Service agents are prepared to testify that Trump did not lunge at them or try to take control of the car to reach the Capitol, reports say
Cassidy Hutchinson, a former aide to Mark Meadows, testified that Trump sought to go to the Capitol though he knew his supporters were armed.
- The New Voice of Ukraine
Odesa regional governor Serhiy Bratchuk said on Telegram on June 30 that according to unverified reports, a Russian landing craft hit a mine near Mariupol.
A Chinese father who reportedly tutored his son daily for a year went viral for bursting into tears after his son scored six out of 100 points on a math exam. The child’s parents from Zhengzhou, Henan Province, received his test score on June 23. Upon learning that their son had only received six points for his final math test, the father burst into tears, as seen in a video posted to Weibo by Qilu Evening News.