NEW YORK—Procter & Gamble Co., the maker of such iconic household products as Crest toothpaste, Tide detergent and Charmin toilet paper, is seeing shoppers cut back some of their purchases as they push back on price hikes.
The company said Thursday that sales slipped 1 percent in the latest quarter ended Dec. 31, the first quarterly sales decline since mid-2017. Meanwhile, the number of products it sells globally fell 6 percent in the quarter—half of that was because shoppers reduced purchases, while the rest was due to inventory productions, the company said.
