Procter &Gamble's (PG) first-quarter profit rose 14%, but the consumer-products giant said it is seeing some slowdown in the U.S. market as consumers pull back amid high energy costs and the housing downturn.
Sales for Procter's snacks, coffee and pet segment were up 6% for the quarter as snacks and coffee each delivered double-digit sales growth. The company said strong snacks results were driven by the launch of its Pringles Rice Infusions product in Western Europe. P&G is reportedly considering selling its Duracell, Folgers and Pringles brands to focus on higher-margin areas like beauty.
