Helen of Troy
This article was originally published in The Rose Sheet
Executive Summary
Personal care sales rose 4.8% to $105.3 mil. for the first quarter (ended May 31), the firm reported during a July 10 analyst call. Helen of Troy attributed the performance to new product offerings with higher average unit prices, expanded offerings with current customers, the addition of new domestic customers and "continued growth" in the firm's Latin American territories. Sales also benefited from a 5.9% increase in the grooming segment, which includes hair and skin care lines Brut,Sea Breeze,Vitalis and Condition 3-in-1. Helen of Troy's net sales rose 2.4% to $130.4 mil., while net earnings dropped 36.4% to $6.7 mil. or $0.21 per fully diluted share. Regarding the outlook of personal care, the firm notes early indications of the retail sell-through of higher end personal care products in the mass channel are "encouraging"...