Gillette Says Earnings Won’t Meet Forecasts

Gillette Co., maker of razors, Duracell batteries and other products, said its first-quarter earnings will be slightly lower than Wall Street estimates because of weak sales in its line of Braun appliances and in Latin America. Gillette forecast sales growth in the “low single digits” after adjusting for divested businesses but said its largest business--blades and razors--is expected to generate “double-digit” sales growth, driven by gains in the U.S. and in the rebounding Asia-Pacific region. Gillette did not give specifics for its forecasts. For the first quarter, it said it expected to report a “mid-single digit” increase, which was about 1 cent below Wall Street estimates. The analysts’ consensus for the quarter was 25 cents per diluted share, according to First Call Corp. That compares with 23 cents in the year-earlier period. Gillette made its announcement after the close of trading. Its shares closed down $1.50 at $57.75 on the New York Stock Exchange.