Helen of Troy tumbles after cutting annual sales, profit outlook

Helen of Troy

07/07/2022 15:38

** Shares of home and beauty products maker Helen of Troy
Ltd  HELE.O  drop 7.6% to $157 after gaining for four straight
sessions
    ** Stock could see its worst day since mid-May, if losses
hold
    ** HELE cuts FY sales and profit forecast, blaming slowing
demand due to inflation and on expectations that retailers will
cut orders as they look to shed excess inventory  urn:newsml:reuters.com:*:nBw7zx3bSa
    ** Co, which develops and distributes products under owned
and licensed brand names, now expects FY net sales of $2.15 bln
to $2.20 bln vs previous forecast of $2.38 bln to $2.42 bln 
    ** Cuts FY adj. EPS forecast to $9.85-$10.35 from
$12.73-$13.03
    ** HELE beats Q1 sales and profit estimates  urn:newsml:reuters.com:*:nASA03G6E
    ** Stock down nearly 36% so far this year

 (Reporting by Uday Sampath in Bengaluru)
 ((UdaySampath.Kumar@thomsonreuters.com; Twitter: https://twitter.com/sampath_uday
  ;))