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Helen of Troy Q4 and 2008

This article was originally published in The Rose Sheet

Executive Summary

Difficult retail environment in fiscal 2008 fourth quarter weighed on company's personal-care revenue, which fell 7.1% to $100.1 mil., compared with prior-year period, Helen of Troy says May 13. Many of firm's retail partners reduced the amount of inventory they carry due to sales slowdown, Chief Financial Officer Thomas Benson noted during earnings call. Other factors that contributed to decline include decreased sales in grooming and wellness appliance categories, professional customers replacing branded merchandise with private-label items, and expanded product offerings from competitors, according to Benson. Personal-care results were offset by 21.9% growth in firm's housewares segment, driven by OXO brands. Total Q4 sales were $144.1 mil. For the year, revenue grew 2.8% to $652.55 mil., with personal care contributing $488.4 mil., down 1.9% from fiscal 2007...

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