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.

But I'm sure marketing to male feminists who never shave will help the shaving brand out eventually.