Helen of Troy Reports 67 Percent Gain in Net for Third Quarter
January 11, 2010,
EL PASO, Texas-Net income for Helen of Troy's third fiscal quarter jumped 67 percent to $24.7 million.
The company's results for the quarter received boosts from net sales, which rose 2 percent to $189.4 million; cost of goods sold, which fell 5.5 percent; and from a 37 percent reduction in interest expense. Selling, general and administrative expenses edged up 0.2 percent in the quarter, but dropped 50 basis points as a percentage of net sales. At the end of the third quarter, the company's inventories were down 24 percent versus the end of the third quarter in the prior fiscal year.
Helen of Troy also said net sales in its housewares segment rose 22 percent in the quarter. This was somewhat offset by a 4.4 percent drop in net sales from the personal-care segment.
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