Gillette (G) - Get Report said it expects flat third-quarter sales with earnings per share slightly ahead of last year's earnings. The company's lowered expectations stemmed from the below-plan performance of its North American battery business and the continued devaluation of European currencies.
In the third quarter of last year, Gillette earned 32 cents a share. Last week, Gillette's rating was slashed to hold from buy at
. The company said that Gillette's near-term performance could be disappointing.