Breakfast Briefing: P&G misses on quarterly sales numbers

The CPG giant reported organic sales growth of 1% in its fiscal Q4.

Photo credit: Getty Images
Photo credit: Getty Images

Procter & Gamble delivered sales numbers for its fiscal Q4 that failed to hit analysts’ expectations on Tuesday morning at $16.5 billion. Organic sales growth was 1%, less than the 2.3% expected by analysts. Shares of the world’s largest marketer were down in pre-market trading (CNBC).

Industry trade bodies have reacted to BLJ Worldwide executive Michael Holtzman being tied to a Qatari "dirty tricks" campaign to win the 2022 World Cup for the country. "It’s sort of a blemish on the industry, but it is not at all common behavior. There are so many examples of firms that, even if they feel something is in an ethical grey area, will walk away from the business," said incoming PR Council president Kim Sample.

President Donald Trump seems willing to risk alienating the Koch brothers this midterm election year, tweeting that the GOP mega-donors "have become a total joke in real Republican circles" while also conceding that they are "two nice guys with bad ideas." The Kochs have been outspoken against tariffs (Bloomberg). Trump was noticeably softer on radio host Rush Limbaugh, calling him, "a great guy who truly gets it."

Speaking of prolific tweeters, if you’ve ever wanted to go inside the social media mind of Elon Musk, The Wall Street Journal has an interactive treat for you this morning. One spoiler: of major tech CEOs, only Salesforce leader Marc Benioff tweets more often than the Tesla chief executive (WSJ).

Tuesday quote du jour: "Accountability is meaningless, unless it’s for everybody," said Late Show host Stephen Colbert about CBS CEO, and his ultimate boss, Les Moonves (CNN). The network indicated on Monday that Moonves will continue to run CBS while it hires outside counsel to investigate claims of sexual harassment against him (The Verge).

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