Personal Care Accessories

P&G Bought Gillette 18 Years Ago. It’s Still Paying the Price.

5Dec

By adminNo Comments

World

P&G Bought Gillette 18 Years Ago. It’s Still Paying the Price.

Updated Dec. 5, 2023 4:45 pm ETProcter & Gamble said it was booking a $1.3 billion charge on its Gillette business, adjusting the value of a shaving giant that it took over nearly two decades ago. P&G bought Gillette for stock initially valued at $54 billion in 2005, making it a dominant player in the global razor business. The unit has struggled in recent years as upstarts, such as Dollar Shave Club and Harry’s, have entered the market with lower prices. As of June 2023, P&G estimated its grooming business was worth about $14.1 billion.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

P&G Washes Away Consumer Blues Everywhere but China

19Oct

By adminNo Comments

Money

P&G Washes Away Consumer Blues Everywhere but China

Oct. 18, 2023 11:29 am ETProcter & Gamble sees a recovering consumer everywhere but in one market, which just so happens to be the world’s second-largest economy. That is encouraging news for the company itself, but an unsettling message more broadly about the state of China. The maker of Tide detergent and Gillette razors on Wednesday said its organic sales, which strip out the impacts of currency movements and mergers, rose 7% from a year earlier in the three months through September. As has been the case in prior quarters, this was entirely thanks to price increases, as underlying volumes fell 1%. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8