This article was originally published in The Rose Sheet
Gold Bond brand sales decline slowed in fourth quarter and were up 20% from mid-December to mid-January, firm says, citing A.C. Nielsen data during Jan. 26 conference call. Nevertheless, product sales for the fiscal year (ended Nov. 30) totaled $43 mil.-$45 mil., down about 10.5% from FY 1999, with the decrease largely attributed to increased private label competition and moderate summer weather. Company net sales for the quarter were $37.4 mil., down 49% from year-ago period. FY 2000 net sales were $252.7 mil., down 15% from 1999. Chattem's $16 mil. net loss for the quarter and $1.7 mil. loss for the year impacted by approximately $20 mil. in one-time charges recorded in Q4, including $4.2 mil. loss in connection with sale of $160 mil. Ban antiperspirant brand to Andrew Jergens announced in August (1"The Rose Sheet" Aug. 28, 2000, p. 11)
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