Procter & Gamble has reported a net loss of $5.24 billion, prompting speculation as to whether a boycott of the company’s Gillette shaving products after a divisive ‘woke’ ad campaign hit the company’s bottom line.

The ad, entitled ‘We Believe’, was released in January. It asked men to “shave their toxic masculinity,” while blaming an entire gender for the actions of a small percentage of sexual abusers, rapists and perverts.

The commercial alternated between echoing glib feminist talking points and bashing men, while also featuring a clip from left-wing news outlet The Young Turks.

The ad was so despised, it went on to become one of the most hated ads in Internet history.

It has now been revealed that Procter & Gamble took an $8 billion writedown on its Gillette shaving business, contributing to “a net loss of about $5.24 billion, or $2.12 per share, for the quarter ended June 30.”

P&G claims the writedown is “due primarily to foreign exchange fluctuations, increased competition and a contracting market for blades and razors as consumers in developed markets shave less frequently.”

But how much of that “increased competition,” from the likes of Harry’s and Dollar Shave Club, was thanks to customers abandoning Gillette after their man-bashing commercial?

Sales were already on the decline back in April, but the following month Gillette released yet another ‘woke’ commercial in which a dad taught his transgender son to shave for the first time.

If P&G wants to halt the slide it may have to seriously reconsider alienating a huge chunk of its customer base with identity politics nonsense.