The company's scale played against it in the second quarter as its outsized presence in emerging markets exposed it to severe currency headwinds. Consequently, increased pricing was not sufficient to prevent revenue from falling 4% year on year due to a negative foreign exchange impact of 5 percentage points. Likewise, cost savings could not preclude a year on year decline of 40 basis points in gross margin, which faced the brunt of unfavorable geographic and product mix also.
P&g: Falling Volumes Compound Problems As Currency Headwinds Dampen Q2 Results
Trefis Team, Contributor, Forbes
Thu, 01/29/2015 - 6:36am
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