Procter & Gamble Co., the world’s largest maker of consumer products, is losing ground in selling the personal-care items that Americans use every day.
P&G’s share of the U.S. skin-care market fell to 12.7% in September, down from 14.2% in July, according to Bloomberg Intelligence, which cited IRI retail data. Johnson & Johnson, meanwhile, grabbed 28.6% of the category, about the same as its share in July.
The stakes are significant for P&G since the U.S. skin-care industry is worth $3.52 billion and growing, according to IRI. The company, which owns Gillette, is also facing a grim outlook for the razor-blade market. Sales of blades tumbled about 10% in the four-week period ended Sept. 11. And P&G is losing market share in laundry care, where its Tide detergent goes up against products from Henkel AG and Church & Dwight Co.
P&G’s stock fell as much as 2.1% to $86.74 in New York on Wednesday, its biggest intraday decline in almost three months. The shares had been up 12% this year through Tuesday’s close.