Henkel S&E
This article was originally published in The Rose Sheet
Executive Summary
Positive sales growth of hair, cosmetics, skin care and oral hygiene businesses in Q1 were offset by a decline in body care sales, contributing to flat sales for the cosmetics/toiletries division, German company announces in May 6 sales and earnings 1release. Before adjusting for foreign exchange effects, cosmetics/toiletries sales fell 3.8% during the period, firm reports. Henkel expects the cosmetics/toiletries division to achieve high single-digit increase in operating profit for the full year. Consolidated sales rose 2.8% to $2.61 bil. (€1=$1.14) as adjusted for foreign exchange effects. Before the adjustment, sales fell 3.1% from the prior year, Henkel notes. Net earnings grew 24.7% to $131.7 mil. in Q1...