Clairol
This article was originally published in The Rose Sheet
Executive Summary
Brand sales declined 8% to $484 mil. in the third quarter, attributable to heavy competition in personal care sector, Bristol-Myers Squibb CFO Michael Mee reports during conference call Oct. 19. Clairol U.S. sales slipped 6% and overseas revenues were down 12%, the exec said. Herbal Essences sales increased 9% to $177 mil. in the quarter. Bristol-Myers has put Clairol and Zimmer medical devices on the selling block to focus on its core pharmaceutical business (1"The Rose Sheet" Oct. 2, p. 3). Consolidated BMS sales were up 5% to $5.29 bil. and earnings rose 13% to $1.24 bil