P&G Blames Beards for Grooming Decline But Sees Hope From Ad
- Controversial Gillette spot hasn’t hurt overall sales: CFO
- Private labels, subscription razors adding new competition
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The return -- and staying power -- of the beard is a problem for Procter & Gamble Co.’s shaving business, but its much-discussed Gillette ad about toxic masculinity could help offset that.
The company reported strong sales this quarter in nearly every category -- except for its grooming segment. Organic sales in that unit fell 3 percent, a trend Chief Financial Officer Jon Moeller said can be traced to fewer clean shaves.