All Eyes on P&G's Brand Consolidation Strategy as Currency Headwinds Weigh on Q2 Results

Following the lackluster performance in the first quarter, P&G is guiding second quarter organic sales to grow by low to mid-single digits. Core (non-GAAP) EPS is guided to grow by the same range, despite currency headwinds of 5 to 6 percentage points. It is pertinent to note that the company provided this guidance assuming mid-October spot rates. Given the deterioration in major currencies since then, including the Euro, Ruble, Bolivar and Real, second quarter currency headwinds may be at the h...