Manufacturer of personal care electrical products, Helen of Troy Limited, has announced the results for third quarter fiscal year 2017, which ended on November 30, 2016. The net sales revenue for the beauty category for third quarter fiscal year 2017 were $107,686, while third quarter fiscal year 2016 was $133,777, resulting in a 19.5% change.
Helen of Troy's brands include Revlon, Brut, Sea Breeze, Bedhead and Skin Milk.
When it came to beauty, housewares and nutritional supplements net sales, the results were in line with what the company had been expecting, even with weak currency impacts of 1.5 and 0.9 percentage points specifically in the beauty and housewares categories.
The operating margin for the beauty category for third quarter fiscal year 2017 was 13.0%, while the operating margin in third quarter fiscal year 2016 was 14.2%. The adjusted operating margin for third quarter fiscal year 2017 was 15.3%, while the adjusted operating margin for third quarter fiscal year 2016 was 17.4%.
Julien R. Mininberg, chief executive officer of Helen of Troy Limited, said, “Beauty segment sales declined in line with our guidance, but reflected a sequential improvement from the second quarter. Beauty’s sales performance continues to be impacted by our efforts to rationalize lower margin and non-strategic business, Venezuela re-measurement, unexpected retail holiday inventory reductions and even further deterioration in foreign currency, which have overshadowed the success of new innovations.”