P&G Suffers Significant Sales Drop In 3Q FY2015

Procter & Gamble Company said core earnings per share reached $0.92 in the third quarter of fiscal year 2015. Minus the impact of currency fluctuations, however, core earnings per share increased 10 percent during the period, the company said. Net sales declined 8 percent to $18.1 billion, compared with the same quarter in the previous year. Foreign exchange fluctuations had a negative 8 percentage point impact, while minor brand divestitures had 1 percentage point effect on revenue performance. Organic sales rose 1 percent, according to the company.