Carson's Dark & Lovely, Magic Shave drive hair care sales up 25%.
This article was originally published in The Rose Sheet
Executive Summary
CARSON PRODUCTS ETHNIC HAIR CARE SALES UP 25.6% TO $17.7 MIL. in the second quarter, driven by the Dark & Lovely hair color brand and Magic Shave products, Chief Financial Officer Robert Pierce told securities analysts in a conference call July 30. The growth in U.S. hair care sales contributed to a 60.8% increase in consolidated sales to $30.2 mil. for the three-month period. Excluding the effect of acquisitions, sales increased 32.5%. Net income for the quarter jumped 44.1% to $2.3 mil., adjusted for the retroactive application of proceeds from the company's Oct. 18 initial public offering, which netted proceeds of $32.3 mil.