Helen of Troy First-Quarter Sales Lag Expectations
July 07 2016 - 6:30PM
Dow Jones News
Helen of Troy Ltd.'s first-quarter sales fell short of
expectations amid weakness in the consumer goods company's beauty
and nutritional supplements segments.
The price of shares in the company, up 9% this year through
Thursday's close, fell 2.6% in after-hours trading.
For the quarter, the company reported a profit of $19.0 million,
or 68 cents a share, down from $20.4 million, or 70 cents a share,
a year earlier. Excluding asset impairment charges, among other
items, per-share profit rose to $1.27 from $1.06.
Revenue edged 0.8% higher to $347.9 million. Analysts expected
$1.11 in earnings per share and $356.2 million in revenue,
according to Thomson Reuters.
"Retail headwinds and macroeconomic uncertainties have
intensified in certain segments of our business," Chief Executive
Julien Miniberg said.
Orders from key beauty-products retailers slowed during the
period, and Mr. Miniberg said sales of supplements fell, as the
company works to build e-commerce capabilities and move away from
direct mail sales. Helen of Troy signaled continued weakness in
those parts of its business.
Still, the El Paso, Texas, maker of Sure deodorant, Pert Plus
shampoo and various hair tools, backed its forecast for the year,
after raising it in April. Helen of Troy continues to see strong
sales in housewares, offsetting weakness in other categories.
First-quarter beauty sales dropped 17% to $81 million, while
revenue from nutritional supplements slid 8.9% to $35.9 million.
Housewares sales jumped 30% to $84.6 million and health and home
revenue rose 2.3% to $146.4 million.
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com
(END) Dow Jones Newswires
July 07, 2016 18:15 ET (22:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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