This article was originally published in The Rose Sheet
Destocking initiatives "set stage for this year and beyond" but negatively impact second quarter net sales by 4%, Boston firm announces during July 20 conference call. Reported inventory levels of $1.38 bil. are 18.4% higher than levels at year-end. Blade and razor sales for the quarter fell 3% to $860 mil. despite strong sales of Venus and Mach3 shaving systems. Toiletry sales of $222 mil. fell 6% from the prior year period largely due to divestiture of White Rain hair care products. Consolidated sales in the quarter decreased 4.7% to $2.12 bil
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