Did Movember Nick P&G’s Gillette?
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Can organized resistance to shaving nick the sales of giant Procter & Gamble Co.’s Gillette? Apparently so, at least according to the company’s chief financial officer.
Movember — the non-profit effort to get guys to let their mustaches grow to raise money for prostate cancer research got some of the blame for softness in razor sales when P&G reported financial results today. In an earnings briefing with reporters, P&G Chief Financial Officer Jon Moeller blamed the razor market’s “contraction in developed regions” cited in P&G’s press release in part on “reduced incidence of facial shaving, and that was exacerbated by the quarter we were just in because of the prostate-cancer related movement in North America not to shave facial hair in the month of November.”
He also cited a consumer shift toward cheaper disposable razors from systems like Gillette Fusion, which he said is still gaining share.
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