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Sales & Earnings In Brief

This article was originally published in The Rose Sheet

Executive Summary

Playtex: Initiative to curtail sun care shipments early in the season means inventory levels will not have substantially negative impact on the business going forward, despite low sun care sales in the second quarter, CEO Michael Gallagher states during sales and earnings announcement July 23. Sun care category was impacted by bad weather on the East Coast, firm says. Sales of Playtex Banana Boat brand fell 11.1% in the quarter to $34.2 mil. Household Products & Personal Grooming sales were down 11.8% to $19.3 mil. Company's feminine care business also was negatively impacted in the quarter. Consolidated sales fell 10.7% to $180 mil, while earnings were $4.7 mil. compared with $16.7 mil. a year ago on a reported basis. Playtex is still reviewing strategic alternatives...
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