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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...

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