Press release
Helen of Troy Limited Reports Second Quarter Fiscal 2022 Results
Consolidated Net Sales Decline of 10.5%; Decline of 7.6% from Core Business GAAP Diluted Earnings Per Share (“EPS”) of $2.11 Adjusted Diluted EPS Decline of
About this update from Helen Of Troy Limited
[{"type":"text","content":"\nConsolidated Net Sales Decline of 10.5%; Decline of 7.6% from Core Business\n\nGAAP Diluted Earnings Per Share (“EPS”) of $2.11\n\nAdjusted Diluted EPS Decline of 29.7% to $2.65\n\nRaises Fiscal 2022 Diluted EPS and Net Sales Outlook:\n\nConsolidated Diluted EPS to $7.88-$8.31; Core Diluted EPS to $7.68-$8.11\n\nConsolidated Adjusted Diluted EPS to $11.26-$11.56; Core Adjusted Diluted EPS to $11.05-$11.35\n\nConsolidated Net Sales to $2.024-$2.067 Billion; Core Net Sales to $1.990-$2.032 Billion\n\n EL PASO, Texas--(BUSINESS WIRE)--\nHelen 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, 2021.\n\nExecutive Summary – Second Quarter of Fiscal 2022 Compared to Fiscal 2021 and Fiscal 2020\n\n\nConsolidated net sales revenue was $475.2 million, a decrease of 10.5% from fiscal 2021 and an increase of 14.8% from fiscal 2020\n\n\nCore business net sales decline of 7.9% from fiscal 2021 and an increase of 20.6% from fiscal 2020\n\n\nA decrease in Leadership Brand net sales of 8.7% from fiscal 2021 and an increase of 18.9% from fiscal 2020\n\n\nA decrease in online channel net sales of 17.5% from fiscal 2021 and an increase of 8.5% from fiscal 2020\n\n\nA consolidated net sales decline of 10.9% from Organic business\n\n\n\n\nIn July 2021, the Company disclosed that it was in discussions with the U.S. Environmental Protection Agency (the “EPA”) regarding the compliance of packaging claims on certain of its products in the air and water filtration categories and a limited subset of humidifier products within the Health & Home segment that are sold in the United States. The EPA did not raise any product quality, safety or performance issues. As previously disclosed in August 2021, the Company largely resolved the EPA matter with modest changes to product labeling and began executing repackaging plans for the bulk of the affected products. The Company expects to ramp up to normalized shipping activity for the vast majority of affected products at various timeframes during the third quarter. During the second quarter of fiscal 2022, the Company incurred additional compliance costs of $3.0 million, referred to as “EPA compliance costs.” The charge was comprised of incremental war...