P&G's Grooming Biz Takes Hit In Q3; Beauty 'Continually Improving'
This article was originally published in The Rose Sheet
Procter & Gamble’s third-quarter results suffered from 6% and 2% declines in grooming and beauty, respectively, attributed largely to increased competition and a global slowdown in consumer spending.
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P&G's new Gillette On Demand platform mails razors to consumers as needed, addressing the leading reason why men leave online shave clubs – simply, they're getting more blades than they know what to do with. Meanwhile, Schick has launched its own direct-to-consumer razor site and a Schick Hydro Connect cartridge that fits on Gillette handles.
Firm's sales were down in all segments but health care in the third quarter, reflecting challenges it sees worldwide across consumer industries. In this environment, and facing the threat of commoditization in the categories where it competes, P&G is focused on delivering "irresistible superiority," a strategy that drew questions from analysts as to how exactly it will translate to wins in practice.