Gillette
This article was originally published in The Rose Sheet
Executive Summary
Revised net sales in 1999 and 2000 down nearly 1% to $9.07 bil. and $9.23 bil., respectively, due to changes made to comply with findings of Emerging Issues Task Force of Financial Accounting Standards Board. New accounting procedures change the way some companies account for coupons, rebates and other incentives in income statements (1"The Rose Sheet" Feb. 12, p. 15). For Gillette, sales promotion and advertising under "selected" selling, general and administrative expenses will be reduced. Gillette originally reported sales of $9.3 bil. for 2000 (2"The Rose Sheet" Jan. 29, p. 7)
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