Physicians Formula rebuilds
This article was originally published in The Rose Sheet
Executive Summary
A new multi-media approach to marketing, expansion into South Africa and the discontinuation of low-performing products are anticipated to help mass market company in its recovery after a challenging 2009, execs indicated during Aug. 5 earnings call. Despite strong performances from bronzers, mineral makeup and the new Bamboo Wear line, second-quarter net sales were down 1.4% to $20.8 mil., versus the same period last year. The "customer continues to exhibit skittish behaviors," CEO Ingrid Jackel said. Natural and organic products will remain part of firm's strategy going forward, she noted. Based on retail sales data from ACNielsen, company's share of the masstige market, or mass market prestige, was 6.7% for the 52 weeks ended June 12, 2010, compared with 7.9% for the same period in the prior year. Firm struggled in 2009 with the loss of a major customer and potential delisting from NASDAQ (1"The Rose Sheet" June 8, 2009, In Brief)
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