Helen of Troy rises on results beat

Helen of Troy

10/07/2023 12:54

** Shares of home and beauty products maker Helen of Troy
Ltd  HELE.O  up 10.6% at $124.5 premarket
    ** Posts net Q1 sales of $474.7 mln, beating analysts'
expectations of $465.4 mln- Refinitiv IBES data
    ** Reports Q1 adj profit of $1.94 per share, above estimates
of $1.59 
    ** Project Pegasus, co's previously announced global
restructuring plan intended to expand operating margins, on
track to deliver $20 mln savings target in fiscal 2024 
    ** Also reiterates 2024 sales and adj EPS outlook,
reflecting co's expectations of a slower economy and uncertainty
in spending patterns for some discretionary categories
    ** As of last close, HELE shares up ~1.5% YTD

 (Reporting by Aatrayee Chatterjee in Bengaluru)
 ((aatrayee.chatterjee@thomsonreuters.com))