Helen of Troy Limited, a global marketer of branded beauty and wellness products, reported results for the three-month period ended Feb. 29, 2024.

 

In the fourth quarter of fiscal 2024 compared to fiscal 2023, consolidated net sales revenue was $489.2 million, an increase of 1.0% over the prior-year period.

 

In Fiscal Year (FY) 2024 compared to FY 2023, consolidated net sales revenue was a little over $2 billion, a decrease of 3.3%.

 

For beauty & wellness, net sales revenue decreased $6.8 million, or 2.5%, to $265.9 million, compared to $272.7 million the year prior. The decrease was driven by a decrease from organic business of $7.6 million, or 2.8%, primarily due to lower sales of air purifiers, fans, and heaters, primarily driven by SKU rationalization and softer consumer demand, and a decline in humidification reflecting a cough/cold/flu season illness incidence below the prior year and pre-Covid historical averages. These factors, company officials said, were partially offset by growth in hair appliances and thermometry, which helped drive higher overall international sales, and an increase in sales of prestige hair care products.

 

“The fourth quarter was highlighted by net sales and adjusted EPS ahead of our outlook, expanded gross profit and adjusted EBITDA margins, and strong cash flow generation that further strengthened our durable balance sheet,” said CEO Noel M. Geoffroy. “We are pleased to achieve these results despite an environment where consumers focused their more limited discretionary spending on experiences and services over products. I am proud of how our associates have embraced our new organizational model as a true global operating company designed to enable greater focus and centralized expertise.”

Helen of Troy's Beauty & Wellness Revenue Drops in Q3