This article was originally published in The Rose Sheet
Despite flat sun care sales of $52.2 mil. in first quarter, CEO Michael Gallagher maintains optimistic outlook due to strong market position during analyst call April 19. Banana Boat commands 22% market share and number two category position, representing a significant gain over its share value at time of purchase in 1995, Gallagher says. Consolidated sales were down 1.2% to $220.8 mil.; net earnings dropped 16.3% due to difficult economic conditions and competition factors expected to impede growth through first half of 2001
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