P&G sales cut: results not best it can get as beard growth hits shaves
The return - and staying power - of the beard is a problem for Procter & Gamble's shaving business, but its much-discussed Gillette ad could help offset that. It reported strong sales this quarter in nearly every category - except for grooming.
Organic sales in that unit fell 3pc, a trend CFO Jon Moeller said can be traced to fewer clean shaves. "The reduction continues to reflect societal trends in terms of shave frequency," Mr Moeller said.
The controversial ad 'The Best a Man Can Get', which describes a rift between a past and a "new era" of masculinity amid the #MeToo movement, drew impassioned reactions.
It didn't affect results, but it's had the intended effect, mR Moeller said. P&G shares rose as much as 5.1pc