Procter & Gamble Co. (PG), which Wednesday reported a further drop in fourth-quarter sales, said it expects to see “sequential” improvements in its business as its fiscal year progresses. On a conference call after the company’s earnings release, newly appointed Chief Executive Robert McDonald said P&G will grow long term by pushing more of its products in areas where it is under-represented.

P&G will aim to sell more beauty products in drug stores. It is also aiming to increase its overall presence online. The company will put more focus on lower priced products but will continue to grow its higher margin businesses through internal growth and acquisitions, he said. P&G expects to benefit in coming quarters from moderating commodity costs and investments made to grow its brands.

On the call, company executives said the consumer products giant will continue to face “headwinds” in the first quarter, but that some those pressures will ease as the year progresses. The company said its share repurchases for fiscal 2010 may be below its previously estimated $8 billionthreshold for the year. P&G shares were recently down 3.4% to $53.59.