Procter & Gamble Co. reported a decline in its third-quarter operating margin on April 23 and said a strong U.S. dollar hurt sales of its grooming products, sending shares of the maker of Tide and Gillette products down as much as 3.3%.
Soaring commodity and transportation costs have eroded margins across the consumer goods industry over the past year. P&G said its core operating margin declined by 60 basis points to 19.9%, and was hurt by foreign exchange fluctuations.
