Procter & Gamble Co raised its annual sales forecast on Wednesday, as the consumer goods giant benefits from higher prices and resurgent demand for cleaning products due to a spike in COVID-19 infections. The company’s blue-chip stock rose nearly 1 percent in premarket trading as a better-than-expected 6 percent jump in quarterly sales helped cushion the blow from a bigger-than-previously forecast increase in annual freight and commodity costs. P&G said sales in its fabric & home care unit, the company’s biggest segment and home to brands such as Tide and Mr. Clean, rose 7 percent in its second quarter, as the rapid spread of the Omicron coronavirus variant since late last year led to consumers stocking up again on detergents and surface cleaning products. Organic sales in the company’s personal health care business increased about 20 percent as a more intense flu season led to a rise in demand for …
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