Fourth Quarter 46 Percent Net Gain Ends Record Year for Helen of Troy

EL PASO, Texas-Helen of Troy finished a record fiscal year with an increase of 46 percent in fourth-quarter net income, to a company record $24.4 million.

The fourth-quarter bottom line boosted Helen of Troy's net for the entire fiscal 2011 to $93.3 million, up 30 percent over fiscal 2010. Net sales for the quarter, which ended on Feb. 28, rose 56 percent to $237.1 million--pushing the company's fiscal-year top line to $777 million, an increase of 20 percent. All of these totals were new records as well.

A portion of the sales gain was attributable to the addition of the health-care/home-environment product line of Kaz, for which Helen of Troy finalized the acquisition on Dec. 31. This segment posted $69.1 million in fourth-quarter sales. Meanwhile, Helen of Troy's personal-care sector reported an 11 percent growth in sales, while the housewares unit's sales rose 9.1 percent.

Helen of Troy's gross margin in the quarter declined 100 basis points to 43.8 percent, reflecting lower margins in the health-care/home-environment segment. Selling, general and administrative expenses jumped 52 percent in dollars but declined 80 basis points as a percentage of sales, to 30.5 percent.

Gerald Rubin, Helen of Troy's chairman, president and CEO, said the new fiscal year will bring the further integration and development of the Kaz product line. Rubin also said the company will focus on continued expansion of the OXO housewares line, investments in product development to increase market share, sourcing and product cost-management initiatives to offset increased commodity and transportation costs, and productivity initiatives to slim expenses.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Adriana Hoyos Relaunches Brand at High Point Market

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017

    HFN's DIGITAL EDITION

    September 2017


    COVER STORY:

    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    ALSO IN THIS ISSUE:

    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.