BREVITIES #3; Gillette's "Toxic Masculinity" Woke Sales Collapse And Various Pithy Wisdom

 

Karma at work; I have not used Gillette/P&G since 
"toxic masculinity." Stuff them; Via Ace         http://ace.mu.nu/

P&G offers many excuses for Gillette’s ongoing sales collapse in regulatory filing; Omits one very big reason
[Buck Throckmorton]

—Open Blogger

In early 2019 Gillette released its infamous “toxic masculinity” commercial which effectively accused its loyal customer base of being bullies and sexual predators. That ad sparked an angry backlash of men who are fed up with SJW attacks on them, and who vowed to stop buying Gillette products. (I’m one of them.) Six months later Procter & Gamble had to take an $8 billion impairment charge due to Gillette’s declining sales and the declining book value of the Gillette brand, which caused P&G to have an overall $5 billion loss that quarter.

We don’t know how many millions of men quit buying Gillette products after it went hyper-woke, because P&G isn’t telling us. But the Securities and Exchange Commission does require P&G to document problem areas and potentially impaired assets.

Procter & Gamble’s 10-K published in August for the fiscal year ending 6/30/2020 is a long slog of a report, but in summary, things are going well for all P&G units except “Shave Care”.

The COVID-19 pandemic that occurred during the second half of fiscal 2020 [This means January through June 2020 because P&G’s fiscal-year-end is June 30 - Buck] resulted in a reduction in shave incidents by consumers and a weakening of certain currencies relative to the U.S. dollar, which led to a reduction in net sales for Gillette-branded products.

So Covid caused the continuing erosion in Gillette’s sales?

The duration and severity of the pandemic could result in additional future impairment charges for the Shave Care reporting unit goodwill and the Gillette indefinite-lived intangible asset.

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