Procter & Gamble, the multinational parent company of the personal care products brand Gillette, reportedly lost billions of dollars last quarter because of Gillette.
“P&G reported a net loss of about $5.24 billion, or $2.12 per share, for the quarter ended June 30, due to an $8 billion non-cash writedown of Gillette. For the same period last year, P&G’s net income was $1.89 billion, or 72 cents per share,” Reuters reported Tuesday.
This mean’s the company’s earnings dropped by over $7 billion from 2018 to 2019. Why such a steep drop? Company executives claim it’s because men aren’t shaving as much …
“Lower shaving-frequency has reduced the size of the developed blades and razors market,” P&G CFO Jon Moeller reportedly said Tuesday during a call with analysts.
That’s certainly one possibility. Another is that competitors are pricing Gillette out of the market.
“Initial carrying values for Gillette were established nearly 14 years ago in 2005. … New competitors have entered at prices below the category average,” Moeller said.
Though not mentioned by either Moeller or the media, there is a distinct third possibility, which is that Gillette got woke, then went broke, figuratively speaking:
Procter & Gamble reports net loss of over $5 billion thanks to $8 billion writedown on Gillette products.
Get woke, go broke.https://t.co/v3DKpXRi0R
— Paul Joseph Watson (@PrisonPlanet) July 31, 2019
8bn loss what else did they expect, they sided with SJW’s to be anti-men when a majority of their customer base is men. Men not only have hair to shave but self respect to uphold, there are a lot of competitors in the market, we just chose someone that doesn’t push politics on us
— Charan ?? (@Charan_official) July 30, 2019
Get Woke, Go Broke: Gillette Loses BILLIONS After Sexist and Lecturing #MeToo Razor Ads https://t.co/8N40sc3VPG via @gatewaypundit
— DL⭐️⭐️⭐️ (@DianeLong22) August 1, 2019
When will companies that decide they want to change our culture with their PC garbage realize there are consequences for stupidity? Never because they keep repeating the action. I have no pity for them & hope their competition cleans up. https://t.co/90QrUrOZMW via @gatewaypundit
— He is Limitless ✝️ (@IminHisbook) August 1, 2019
How so?
The Washington Times notes that “[t]he year that Gillette launched its ‘We Believe’ campaign and asked ‘Is this the best a man can get?’ has coincided with P&G’s $8 billion non-cash writedown for the shaving giant.”
Exactly.
“We Believe” is an ongoing #MeToo-based social awareness campaign that essentially centers on smearing all men as predatory bullies suffering from so-called “toxic masculinity.” It was unveiled in January, around the start of the quarter, via a widely criticized ad.
“The Procter & Gamble-owned company is using the new ad to tackle its own slogan, ‘The Best a Man Can Get,’ addressing issues of harassment, bullying and men’s mental health,” Fox News reported at the time.
“It also promotes the idea that men can and need to do better when it comes to holding each other accountable and treating women with respect so as to set a better example for boys watching them.”
Watch the ad below:
While the ad appeared at first glance to be promoting positive behavior, a closer inspection revealed that it reeked of Marxist-styled “social justice” concepts, including “toxic masculinity.”
Far-leftists activists concocted the misandrist term “toxic masculinity” in an attempt to pathologize the otherwise normal behavior observed among men, including their inclination toward protecting women and children, maintaining stoicism during dark times and being fearless leaders.
To the radical far-left, who represent a minority of a minority, these age-old attributes of men represent anomalies that need to be stamped out of society. But while Gillette’s decision to adopt this distorted viewpoint earned it the respect of the far-left, the brand earned that respect at the cost of angering what appeared to be the overwhelming vast majority of men AND women:
I will take a strong man with “toxic masculinity” like John Wayne, Gary Cooper, Gregory Peck, and on the other side of the ocean – Roger Moore and David Niven – over “soyboys”! Men should be strong, masculine and GENTLEMEN, not wimpy wimps! pic.twitter.com/sIj4gOzFO6
— Proud Patriot Patty❌ ???? (@ProudCAPatriot) January 15, 2019
My husband and I have raised our son to be a man and to respect others and how to treat all people especially women. He is 17 and he is and will be a decent strong man so I do not need Gillette to tell me how to think or how to raise my son. No more Gillette in my house
— Michelle my Bell (@Michell67072723) January 15, 2019
@Gillette On behalf of my father, who raised me strong, on behalf of my husband who loves and respects me and our daughter, on behalf of my son’s who are wonderful, strong, caring young men. F**k You!
— Jessica (@bunnyofdoom1974) January 15, 2019
To boys and men, thank you for being strong strapping men fighting for our country! You are awesome! Please continue to work out and be involved in politics so we can rid ourselves of the communist globalists. Ignore the “toxic” male crap. Communists scared of u, a GREAT THING!
— Nurnberg (@Nurnberg) January 15, 2019
Do you believe the ad by @Gillette is ashame, an epitome of misandry and everyone must boycott the product?
— Dalwinder Kumar (@dalwinderk) January 16, 2019
Yet despite all the criticism, and the despite the $8B writedown, the company appears to be doubling down.
“Gillette’s CEO and president, Gary Coombe, says that angering some consumers with its #metoo campaign was a ‘price worth paying’ if it meant the brand could increase its relevance among younger consumers and turn around its falling market share,” Marketing Week reported Monday.
Apparently, the company’s plan is to get woke, go broke and stay broke.
Good luck with that …
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V. Saxena is a staff writer for BizPac Review with a decade of experience as a professional writer, and a lifetime of experience as an avid news junkie. He holds a degree in computer technology from Purdue University.
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