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Helen of Troy Limited Reports Second Quarter Fiscal 2020 Results

Nachrichtenquelle: Business Wire (engl.)
08.10.2019, 12:45  |  1020   |   |   

Helen of Troy Limited (NASDAQ: HELE), designer, developer and worldwide marketer of consumer brand-name housewares, health and home and beauty products, today reported results for the three-month period ended August 31, 2019. Following the divestiture of Healthy Directions on December 20, 2017, the Company no longer consolidates the Nutritional Supplements segment’s operating results. That former segment’s operating results are included in the Company’s financial statements and classified as discontinued operations for all periods presented.

Executive Summary – Second Quarter of Fiscal 2020

  • Consolidated net sales revenue increase of 5.2%, including:
    • An increase in Leadership Brand net sales of 3.8%
    • An increase in online channel net sales of approximately 25%
    • Core business growth of 5.7%
  • GAAP operating income of $54.5 million, or 13.2% of net sales, which includes pre-tax restructuring charges of $0.4 million, compared to GAAP operating income of $50.7 million, or 12.9% of net sales, for the same period last year, which included pre-tax restructuring charges of $0.9 million
  • Non-GAAP adjusted operating income increase of 10.4% to $65.8 million, or 15.9% of net sales, compared to $59.6 million, or 15.1% of net sales, for the same period last year
  • GAAP diluted EPS from continuing operations of $1.83, which includes an after-tax restructuring charge of $0.01 per share, compared to GAAP diluted EPS of $1.66 for the same period last year, which included an after-tax restructuring charge of $0.03 per share
  • Non-GAAP adjusted diluted EPS from continuing operations increase of 13.1% to $2.24, compared to $1.98 for the same period last year

Julien R. Mininberg, Chief Executive Officer, stated: "We are pleased with our second quarter financial performance, which delivered consolidated core business sales growth of 5.7% and adjusted diluted EPS growth of 13.1%, both ahead of our expectations. During the quarter, we improved our consolidated operating margin, while simultaneously increasing our growth investments compared to our original outlook at the beginning of the year. These growth investments are generating healthy results and our digital initiatives continue to pay dividends, illustrated by online sales growth of 25%, which now represents 24% of total sales in the quarter. Consolidated sales growth was led by our Housewares segment as we expanded distribution and introduced new products that resonated well with both customers and consumers. Our Beauty segment continued to grow, driven by strong demand in the appliance category. Our Health & Home segment faced a particularly difficult comparison to the high base that included strong sales of seasonal products, distribution gains and significant international growth in the same period last year. Overall, a strong quarter and first half of our fiscal year.”

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