TITLE

Stock-shocked P&G slows intro of new products

AUTHOR(S)
Neff, Jack
PUB. DATE
March 2000
SOURCE
Advertising Age;3/13/2000, Vol. 71 Issue 11, p3
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article discusses the financial situation of Procter and Gamble Co. (P&G) as of March 2000. After several years of hitting earnings targets but missing sales goals, P&G did things the other way around this time, prompting the biggest one-day stock decline in the company's history. The 31% hit--dropping shares to $60 on March 7, down from $118 in January--was worse than the percentage loss P&G suffered during the Black Friday crash of October 29, 1929. In the wake of the plunge, the company is slowing down its aggressive new-product program, a move that will inevitably result in sizable marketing cutback for lines whose launch now will be delayed. INSET: P&G buffs image with fall brand effort.
ACCESSION #
2883405

 

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