Procter & Gamble Co. says a growing preference for shaggy styles is trimming razor sales.
Beards are showing up all over, with the most popular show on cable TV, ‘Duck Dynasty’ pegged as the popular catalyst. Increased preference for beards and mustaches have risen with the show’s ratings, and seem to be everywhere you look these days.
From the curated facial hair now favored by Brooklyn hipsters to the solidarity beards sported by the Boston Red Sox baseball team, which in 2013 went from last place in their division to World Series champions.
Analysts call it the “Duck Dynasty Effect’. And the beard wave weighed on sales for P&G’s Gillette razors and shaving cream and Braun electric razors, Chief Financial Officer Jon Moeller said today on an earnings call.
Lousy sales in grooming was a major drag on P&G’s earnings, which fell 15.5 percent from the year-ago level.
Net income for the second quarter of fiscal 2014 came in at $3.4 billion on $22.28 billion in revenue, down from $4.1 billion on $22.18 billion in revenue in the year-ago period.
Seems that the Robertsons are making an impact in every area of our society: grooming, guns, and a new confidence in speaking out bout religious values.