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GILLETTE Boston, Massachusetts Cost Cuts, Hit Products Give It A Sharp Edge.(A)
Byline: MARILYN ALVA
Gillette has suffered some pretty nasty scrapes in the razor and blade business, though the company is now looking its sharpest in years.
Results of a three-year operational overhaul to reduce costs are showing positive results, with Gillette running off two straight quarters of double-digit profit growth.
Second-quarter earnings, reported July 29, rose 27% to 42 cents a share. Sales rose 8% to $2.4 billion.
No longer is Gillette "a chronic underperformer," Chief Executive James Kilts told shareholders in March.
A former Nabisco executive, Kilts has led efforts to groom operations and pump out new products and sales. Revenue last year rose 9% to $9.2 billion -- the highest top-line gain since 1996.
On the heels of hit launches such as the Venus Divine for women and the three-bladed Sensor3, Gillette is getting a lot of buzz from its latest entry in the razor market: a first-of-its-kind micro-powered M3Power system wet shaver, started in May.
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