Helen of Troy down after Q2 sales, profit decline

Helen of Troy

04/10/2023 13:22

** Shares of home and beauty products maker Helen of Troy
Ltd  HELE.O  down 6.3% at $106.50 before the bell 
    ** Company sees a fall in Q2 sales and profit due to lower
consumer demand for heaters and fans as well as fewer orders
from retailers 
    ** Q2 revenue falls 5.7% to $491.6 mln but beats analysts
expectations of $485 mln, per LSEG data
    ** Company posts Q2 adjusted profit of $1.74 per share,
compared with estimates of $1.64
    ** HELE says it has seen some reduction in trade inventory
on a sequential basis as many key retailers have lowered their
inventory on hand
    ** Company also maintains its annual net sales and adjusted
profit forecast 
    ** Up to Tuesday's close, stock up ~2.5% so far this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))