Consumer Spending BehaviorAn increased focus on value was echoed across the survey, with consumers indicating they are purchasing PL more, are more focused on price when purchasing products, and are shopping more at value outlets such as mass or dollar stores for personal care.
Infant Formula BusinessThe infant formula business was pressured with the overall nutrition business down -21.5% YOY due to velocities below expectations and lapping a period where infant formula benefited from selling into retailers due to the port strike LY.
Sales DeclineSales were impacted by a -4.4% decline in organic sales, -1.3% decline from divestitures and exited products, and +1.6% benefit from FX.