Gillette’s Sales Effected by Weak Euro

The Gillette Company has reported that its third quarter sales will be flat due in part to the continued devaluation of the Euro. Earnings per share are expected to be slightly ahead of a year ago. During the third quarter the company maintained strong marketing support behind its core businesses and continued to make progress in programs to reduce overhead expense. The benefits of these activities, however, are not expected to fully offset the adverse impact of exchange. In addition, the company’s battery business in North America continued to perform below expectations in the quarter due to the difficult competitive environment. The company remains comfortable with current Wall Street earnings estimates for the fourth quarter.