Prestige Consumer’s ‘Nimble’ Marketing Helps Beat Fiscal 2021 Guidance
Less travel, closed schools and a slower cold/cough season during the pandemic required Prestige Consumer to invest strategically across its OTC healthcare portfolio in fiscal 2021. Dramamine motion sickness and Nix head lice treatments got less attention, while Monistat, Compound W and Clear Eyes received more.
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After a company-record FY2022, Prestige CEO Ron Lombardi says future inflationary pressures and supply chain issues should be “manageable.”
Retailer and consumer stockpiling in fear of supply chain disruptions drive double digit consumption growth for Prestige Consumer Healthcare’s Dramamine, Nix, Hydralyte and cough/cold brands. Brands drove total sales up 10.5% excluding impact of Akorn, to $12.4m in latest quarter.
April-June sales of OTC drugs, supplements and personal care products likely will show at least notable and potentially strong increases from year-ago period when consumers slowed spending after splurging during 2020 Q1 as novel coronavirus pandemic sent shockwaves through the marketplace.