Jessica Alba's Honest Co sinks on weak sales forecast

Honest

24/03/2022 22:32

** Shares  HNST.O  of eco-friendly baby, beauty and
household products maker down 19.4% at $4.87 after market
    ** Company, co-founded by actress Jessica Alba, expects Q1
revenue to decline ~15% from last year, while analysts were
expecting a 11.2% increase according to IBES data
    ** HNST says it expects inflation and supply chain headwinds
to continue to challenge the industry, however adding that sales
growth is expected after Q1
    ** Company's Q4 revenue of $80.4 mln misses estimates of
$84.6 mln, with HNST blaming a decline in demand for sanitizing
and disinfecting products  urn:newsml:reuters.com:*:nGNXbRqMKm
    ** Up to Thursday's close, stock down 62.3% from its May IPO
price of $16

 (Reporting by Uday Sampath in Bengaluru)
 ((UdaySampath.Kumar@thomsonreuters.com; within U.S.+1 646 223
8780; Twitter: https://twitter.com/sampath_uday))