Helen of Troy Sales Edge Up in Q1
July 10, 2013,
EL PASO, Texas-In what Gerald Rubin, chairman, president and CEO, described as a "solid start" to the new fiscal year, Helen of Troy's net sales increased 1.4 percent to $304.5 million in its fiscal first quarter ending on May 31.
In a conference call to financial analysts yesterday, Rubin said one of the key drivers to the top line was a gain of 5.4 percent in the company's housewares segment, thanks in part to Oxo's new cleaning utility line, expanded shelf space at several key retailers and distribution to new customers. The health-care/home-environment segment posted a sales pickup of 2.6 percent, mostly in the water filtration category. Sales in the personal-care segment were down 1.8 percent, with declines in domestic appliances and grooming products offsetting an increase in the professional category.
Net income on an as-reported basis fell 38.7 percent to $14.4 million. This included one-time, non-cash impairment charges of $12 million from the company's annual evaluation of goodwill and indefinite-lived intangible assessments for impairment. Without these charges, net income increased 12.6 percent to $26.4 million.
Other Articles By Author
HFN Launches Interactive Idea Book
HFN's DIGITAL EDITION
COVER STORY: HFN Turns 90
We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.
ALSO IN THIS ISSUE:
- Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
- Omnichannel Retailing - In the Mobile App World, Time is Money