In Brief: Helene Curtis
This article was originally published in The Rose Sheet
Executive Summary
Helene Curtis: Lowers earnings prediction for FY 1996 (ending Feb. 29) and reports an expected loss for the third quarter (ending Nov. 30), the firm announces Nov. 20. Helene Curtis expects pre-tax earnings for the year in the $20-$24 mil. range while the firm's tax rate "will be somewhat higher" than last year. The firm previously predicted earnings would "approximate" FY 1995 when the firm reported $36.2 mil. in pre-tax profit ("The Rose Sheet" Oct. 2, p. 10). President and CEO Ronald Gidwitz said the firm's FY 1996 results have been affected by "continued weakness in our Japanese business and by lower-than-expected sales" in North America for the third quarter to date. As a result, Helene Curtis will be spending more on advertising "to support [its] brands where appropriate," Gidwitz said...