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Playtex Q1 results

This article was originally published in The Rose Sheet

Executive Summary

Banana Boat sun care sales grew 6.5% to $53.8 mil. in first quarter due to effective pre-season sell-in and positive impact of the firm's ongoing initiative to improve sun care returns, Playtex reports in Q1 1sales and earnings release. Company launched Banana Boat Suntanicals SPF 8 and SPF 16 lotions and a three-SKU line of Baby Magic Sun Block by Banana Boat this year (2"The Rose Sheet" July 29, 2002, p. 5). Infant care sales fell 10.3% to $58.8 mil. compared to the year-ago period due in part to lower sales of baby wipes business, CEO Michael Gallagher tells analysts April 29. Consolidated sales were off 8.1% to $180.9 mil., while net earnings dropped 29.2% to $11.4 mil. compared with earnings of $16.1 mil. a year ago on an as-reported basis...
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