Giant shaken by 'hipster moustache'

The beard-and-mustache trend - the "Movember" movement in November, cost Procter and Gamble hundreds of millions of dollars.

According to the Associated Press, the company said facial-hair-chic was hurting its second-quarter earnings, with the three-day “hipster” stubble shaving profits as men buy less grooming equipment. Procter and Gamble’s net income for the quarter dropped to $3.4 billion, down from $4.1 billion in the year-ago period as the company’s Gillette razors and shaving cream and Braun electric razors sales dropped.

Revenue remained steady, however, with $22.28 billion for the quarter reflecting little change from last year, and the increasing popularity of body-shaving by men could offset P&G's losses in facial hair grooming, the US daily Time has reported.

Procter and Gamble is the world's largest producer of consumer goods whose most popular brands are Gillette and Braun.