quote:

Originally posted by P220 Smudge:
FWIW, guys, Harry’s went SJW ‘tarded first and then backed off it when they saw Gillette follow suit:

https://twitchy.com/gregp-3534...tion-of-masculinity/

quote:

Harry’s Razors deleted an old tweet from 2017 celebrating “International Men’s Day” that told men “IT’S TIME FOR A NEW DEFINITION OF MASCULINITY.” Text of the deleted tweet here:

Today is International Men’s Day. Believe it or not, that’s a thing.
Now more than ever, being a man demands introspection, humility, and optimism. To get to a better tomorrow, we need to take a look at today, and at the misguided stereotypes that got us here in the first place.

More at the link.

I’ll be holding a DE blade karma with multiple winners soon for those willing to step away from cartridge razors. I have sampler packs I’m probably never going to mess with that are milder than the Feathers I’ve come to love, and since I just got a 200 pack of those, I can let the rest walk. May even offer up a ‘48-‘50 Gillette SuperSpeed if there’s enough interest.

Sounds like Harry’s just wants to sell razors to all men, regardless of their social demographic. They seem to donate to all causes, including two veteran’s groups.

https://www.harrys.com/en/us/social-mission

I’m okay with that.

Tony.

P&G takes an $8 BILLION writedown of Gillette. Oddball - you may want to update the thread title

https://www.reuters.com/articl...m&utm_source=twitter

P&G posts strong sales, takes $8 billion Gillette writedown

(Reuters) - Procter & Gamble Co’s (PG.N) quarterly revenue and adjusted profit beat Wall Street expectations on Tuesday, sending shares to a record-high even as the world’s No.1 personal goods company took an $8 billion charge on its Gillette shaving business.

P&G reported a net loss of about $5.24 billion, or $2.12 per share, for the quarter ended June 30, due to an $8 billion non-cash writedown of Gillette. For the same period last year, P&G’s net income was $1.89 billion, or 72 cents per share.

Cincinnati-based P&G, which operates in 80 countries, sells Gillette razors, gels and foams worldwide and said the writedown was due primarily to currency fluctuations - enduring strength in the U.S. economy in recent years has strengthened the dollar. The charge was also driven by more competition over the past three years and a shrinking market for blades and razors as consumers in developed markets shave less frequently. Net sales in the grooming business, which includes Gillette, have declined in 11 out of the last 12 quarters.

“Initial carrying values for Gillette were established nearly 14 years ago in 2005. ... New competitors have entered at prices below the category average,” Chief Financial Officer Jon Moeller said on a call.

P&G paid $57 billion in 2005 for Gillette, the world’s No.1 shaving brand that is more than a century old. But in the 2010s technology altered the way consumers purchased razors, and relaxed social norms prompted men to shave less often, according to a Euromonitor report. In the past 5 years, the U.S. men’s market for shaving products has shrunk by over 11%, the data firm said.

P&G has been cutting prices and investing in new products at its grooming business, hoping to claw back market share from upstart shaving brands bought by rivals, such as Unilever’s (ULVR.L) Dollar Shave Club and Edgewell Personal Care’s (EPC.N) recent acquisition of Harry’s.

For instance, P&G recently launched a razor called SkinGuard, designed for men with sensitive skin prone to irritation. Gillette’s share of the U.S. men’s razors and blades market slipped in 2018 while that of Harry’s and Unilever grew, Euromonitor data showed.

P&G has signaled to analysts for some time that it might write down Gillette, given the market’s issues; the charge is just an accounting expression of what we knew was happening to the business, Bernstein analyst Ali Dibadj said.

Excluding items, the company earned $1.10 per share, beating the average analyst estimate of $1.05 as strong demand for SK-II and Olay beauty products drove P&G’s organic sales up 7%. Price hikes contributed 3 percentage points to organic sales growth, a closely watched metric which excludes items like acquisitions, divestitures and currency effects. Organic sales for all 10 of P&G’s global categories grew.

Shares rose nearly 5% to a record high of $121.76, before paring gains to 4.2% at midday.

P&G, like other consumer goods companies, has been raising prices on many of its products to tackle soaring freight and raw material costs that have dented margins. Organic sales in P&G’s beauty business rose 8%, boosted by demand for its super-premium SK-II brand and Olay skin care products. In the fabric and home care unit, the company’s biggest business which sells Tide detergent and Febreze air fresheners, organic sales climbed 10%.

“Expectations were creeping higher into the print, but P&G far exceeded even the most optimistic expectations,” Wells Fargo analyst Bonnie Herzog said, adding that P&G’s organic sales growth of 7% was its strongest in 13 years.

The company’s net sales rose 3.6% to $17.09 billion in the fourth quarter, beating analysts’ average estimate of $16.86 billion, according to IBES data from Refinitiv.

Excellent!!!!

Right before a trip recently my wife and I were buying last minute travel supplies and she turned to me and said “which company was it again that went woke and now needs to go broke? Gillette?” I confirmed she was indeed correct and she grabbed something else. Glad to see others felt the same way!!!

quote:

Procter & Gamble recently revealed they’ve taken an $8 billion hit on Gillette, citing millennial men’s penchant for beards, a trend apparently “hair” to stay for the time being.

Ya, that's why.

link

quote:

Originally posted by Patrick-SP2022:

quote:

Procter & Gamble recently revealed they’ve taken an $8 billion hit on Gillette, citing millennial men’s penchant for beards, a trend apparently “hair” to stay for the time being.

Ya, that's why.

link

I’ve spotted a beard for a little over 4 years. I used to keep it trimmed with Gillette blades. Now I don’t.

-Rob

https://www.breitbart.com/econ...ke-ads-worth-paying/

Gillette CEO and president Gary Coombe is defending the $8 billion write-down Procter & Gamble experienced last quarter related to his brand, saying in a recent interview that it was “worth paying” and that he doesn’t mind alienating some customers.

“I don’t enjoy that some people were offended by the film and upset at the brand as a consequence. That’s not nice and goes against every ounce of training I’ve had in this industry over a third of a century,” he said.

“But I am absolutely of the view now that for the majority of people to fall more deeply in love with today’s brands you have to risk upsetting a small minority and that’s what we’ve done.”

Coombe said the ads were an attempt to capture millennial consumers, many of whom have defected to competitors like Dollar Shave Club and Harry’s.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

offending "a small minority". That would be men who don't need lectures from whimps about being strong and knowing what is worth fighting for.

Jackass

Classic marketing fail. Pander to a desirable audience in a way that fails to engage and move the needle, while at the same time alienating your core market and losing sales as a result.

P&G takes an $8 BILLION writedown of Gillette.

And I helped.

stockholders should jetison this loon yesterday

quote:

Originally posted by sdy:
Gillette CEO and president Gary Coombe said it was “worth paying”

I wonder how the share holders feel about that?

Suffering a decline in business since millennials don't shave the CEO offends the segment of its customer base who does shave.

Harry's numbers over the same period would be telling.

quote:

“I don’t enjoy that some people were offended by the film and upset at the brand as a consequence. That’s not nice and goes against every ounce of training I’ve had in this industry over a third of a century,” he said.

“But I am absolutely of the view now that for the majority of people to fall more deeply in love with today’s brands you have to risk upsetting a small minority and that’s what we’ve done.”

Exhibit A, of the current executive culture around many companies, particular those that are retail-driven. Spineless jellyfish owners/executives who've bowed to marketers and advertisers, relying on 'survey's and polls'.
I've represented enough companies as a salesman and every single marketing segment or, mission change from the chief, results in some socio-politically tainted angle in which THIS company will be at the lead for change. Chasing trends and begging for business...

I hope they continue to take hits like that until they fold.

quote:

Originally posted by braillediver:

quote:

Originally posted by sdy:
Gillette CEO and president Gary Coombe said it was “worth paying”

I wonder how the share holders feel about that?

I can tell you that THIS shareholder is more than a little pissed!!!!

Funny how they never mention the slight misjudgement with their advertising.

I am glad I was able to play a small part in their loss

obviously, the CEO was just fine with alienating me as a customer, so I have no problem alienating Gillette as a product

I think what he forgot was that there are a lot more of us than there are of him

If the new ad campaign is so good, let's see them make some more.

The CEO is deranged and he even looks the part.

Even if they back off, after reading his comments, he could never get me back because I know how he really feels.

I switched to Harry’s years ago, but my deodorant was Gillette. I started buying Right Guard instead. I’d like to think my little contribution helped send a message.

I’m happy to have contributed to that loss. Became a double edged shaver again. Made sure my DE blades were not Gillette branded under another name e.g., Astra (which I like unfortunately)..