But.. But.. they said War in Kosovo has no impact for US companies??
These guys must know JS! -g- Or, "G" must stand for tongue-in-cheek! -g-
biz.yahoo.com
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Thursday April 15, 8:41 pm Eastern Time
Gillette says NATO action affecting its business
BOSTON, April 15 (Reuters) - Consumer products giant Gillette Co. (NYSE:G - news)
said the war in Kosovo was having an adverse affect on all of its products, from razors and
blades to batteries and toothbrushes.
The war is having a negative effect on product sales ''not only in the region, but in Croatia and even in Italy, believe it or not,''
said Jorgen Wedel, executive vice president of the Boston-based global company.
He said the impact was not something he could quantify, but has been talked about ''in sales calls and everybody is worried
about the future.''
Gillette executives spoke with analysts and reporters after the company's annual shareholder meeting where the company's
chief executive officer for the last nine years, Al Zeien, was formally stepping down.
Fresh off a profit warning issued early in April, the maker of Duracell batteries, Mach3 razors and Braun appliances reported
net income of $269 million, or 24 cents per diluted share, versus $268 million, or 23 cents, for same year-earlier period.
The company is expecting to return to double-digit earnings in the second half of the year, officials said.
Gillette closed at $50.13, down 19 cents. |
