NEW YORK — Procter & Gamble Co. said Friday that its net income climbed 45 percent in its fiscal fourth quarter, boosted by the sale of its snacks division.
Even without the impact of the sale, its earnings beat expectations and the company said it was making progress with its cost-cutting plan and strategy to improve results by focusing on its most profitable categories.
The company said Friday that it plans to buy back $4 billion in shares this fiscal year. That’s a reversal from June, when it said it did not plan any share repurchases.
P&G has admitted missteps in pricing and balancing growth in emerging markets, which make up about 30 percent of its sales, with the realities of an uncertain global economy.
Oil prices surge on news of job growth
NEW YORK — The price of oil posted its biggest gain in more than month, jumping nearly 5 percent, after the government reported a sharp rise in jobs growth for July.
Benchmark U.S. crude on Friday rose $4.27 to end the day at $91.40 per barrel in New York. Brent crude, which sets the price for oil imported into the U.S., climbed $3.04, or 2.9 percent, to $108.94 per barrel in London.
Kissing protesters head to Chick-fil-A
ATLANTA — Gay rights activists were kissing at Chick-fil-A stores across the country Friday, just days after the company set a sales record when customers came to show support for the chain’s president’s opposition to gay marriage.
Meanwhile, police were investigating graffiti at a Chick-fil-A restaurant in Southern California. The graffiti on the side of a restaurant in Torrance said “Tastes like hate” and had a picture of a cow. No one has been arrested.
Windsor will open Wrightsboro store
Windsor Jewelers owner Donnie Thompson is opening another store at Marks Church and Wrightsboro roads.
Windsor Gold Buying will open Aug. 15 at 3425 Wrightsboro Road, at the former site of Top Notch Express Car Wash. It will specialize in buying gold and silver and could evolve into something else later, Thompson said.
– Staff and wire reports