P&G earnings takeaways: Price hikes coming, but so are agency cuts – Info Advertisement

Here are key takeaways from today’s earnings report:

Sales were light, prices were slashed

Agency fee cuts will continue

Price hikes are coming

Media spending continues to rise

A reason to feel sorry for P&G

“What you say is very real,” Taylor said to Modi. “And the harsh reality is that there are some people coming into categories that are aggressively spending. What we’re choosing to do is to make sure we’re being more competitive and protecting our businesses.”