PG&E Corporation reported weaker-than-expected sales growth in the third quarter, citing lower demand for its beauty and baby care products. The utility company, which also owns the Phillips 66 refining business, said sales rose 1% from a year earlier to $3.6 billion. Analysts had projected a 3% increase. The company’s beauty segment, which includes brands like Cover FX and It Cosmetics, saw sales decline 5% in the quarter. PG&E blamed the weakness on a shift in consumer behavior towards e-commerce and away from brick-and-mortar stores.
