Procter & Gamble misses sales expectations on slowing demand

Procter & Gamble (PG.N) missed Wall Street expectations for fourth-quarter sales on Tuesday, on weak demand for its skincare products in major market China and waning price benefits in the US and Europe for its home care products.

Shares of the Tide detergent maker fell 2.3 per cent in premarket trading.

P&G has scaled back on further price hikes and instead have been spending heavily to launch newer products like Tide Evo and diaper brand Luvs Platinum Protection that...