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P&G slims down Tide, Gain with compacted powder laundry detergents
CINCINNATI — Procter & Gamble is letting Target customers know that great things come in small packages as it launches new Tide and Gain compacted powder laundry detergents.
The compacted Tide and Gain detergents, which offer the same number of loads in a smaller box, could save up to 22 million lbs. of total packaging in the United States and Canada each year, P&G said. The company said that in addition to the Tide and Gain launch at Target, P&G also will introduce compacted formulas for Cheer, Dreft and Ivory Snow.
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Target turns in a solid year
MINNEAPOLIS — Fourth-quarter earnings per share at Target advanced 17% to $1.45, compared with $1.24 the prior year, thanks to a seven-cent-per-share tax benefit.
Quarterly profits were slightly more than $1 billion, compared with $936 million the prior year. Fourth-quarter sales increased 2.8% to $20.3 billion, compared with $19.7 billion in the prior year, and were aided by a 2.4% increase in same-store sales.