Trends In Facial Hair Nick Profits Of Razor Manufacturer
January 27, 2014 by UPI - United Press International, Inc.
CINCINNATI (UPI) — The increasing popularity of the unshaven American male face has caused profits to stubble — er, stumble — says Ohio-based razor giant Procter & Gamble.
The company said U.S. razor sales experienced a “slight decline” in the last three months of 2013 even as global sales rose 3 percent, the Los Angeles Times reported Friday.
It said the nick in “wet shaving incidence” was “driven by fashion.”
Separately, investment bank Jefferies said sales of non-disposable razors were shaved 15 percent in the same period.
P&G did note an increase in “shaving below the neck,” or what is popularly known as “manscaping.”
For the quarter, Procter & Gamble posted revenue of $3.43 billion, down 15.5 percent from the same period a year ago. Sales were $22.28 billion, up 0.5 percent.