Helen of Troy Q1
This article was originally published in The Rose Sheet
Executive Summary
First quarter sales increased 19% to $127.4 mil. but net earnings plummeted 27% to $10.5 mil. due to "increases in selling, general and administrative expenses," firm reports during July 11 sales and earnings call. Personal care sales excluding recently acquired OXO International declined approximately 6% to $100.5 mil. as a result of falling consumer demand, continued pressure to lower prices and expanded marketing programs, according to Helen of Troy. Also impacting personal care performance were increase in defectives and back-to-stocks and some out-of-stock items, company adds. However, Helen of Troy predicts sales will rebound in the second half, driven by "four new product introductions in Brut and three new Sea Breeze products for domestic introductions along with a new re-packaged line of our current SKUs." Brut, the men's grooming range marketed by firm's Idelle Labs division, will add 15 new products in Mexico and has plans to expand into Brazil, company states...
You may also be interested in...
Keeping Track: Cancer Approvals From Lumisight Imaging To Adjuvant Alecensa
The US FDA’s approval of Lumicell’s optical imaging agent Lumisight makes a dozen novel approvals in 2024 for the Center for Drug Evaluation and Research.
Partisan Politics Returns To US FDA Congressional Oversight
The US FDA has stood out as an agency that tends to draw broad bipartisan support amid a generally rancorous and divided Congress. A House hearing, however, may be a sign that those days are over.
GLP-1 Coverage Restrictions In Medicare Part D Surge As Demand For Obesity Drugs Grows
A major shift from unfettered coverage to prior authorizations was recorded by MMIT over the past year for the leading GLP-1/GIP agonist diabetes drugs. Public interest in using the drugs off label for weight loss drove the change.