EL PASO, Texas (BRAIN) — Helen of Troy fourth-quarter net sales decreased 16.7% year-over-year. The parent company of Osprey and Hydro Flask also reported its yearly net sales declined 6.8%.
The company also announced CEO Julien R. Mininberg will retire in February 2024 and COO Noel Geoffroy will succeed him effective March 1.
Net sales for the quarter that ended Feb. 28 were $484.6 million, compared with $582 million at the same time last year. For the year, Helen of Troy's net sales were $2.07 billion, compared with $2.22 billion the year before.
In the fourth quarter, Helen of Troy created the categories Home & Outdoor, which includes Osprey and Hydro Flask, and Beauty & Wellness. For the fourth quarter, Home & Outdoor net sales were $212 million, an increase of 0.5% year-over-year and driven by the acquisition of Osprey at the end of 2021, the company said. For the year, Home & Outdoor net sales grew 5.8%, from $866 million to $916 million.
Helen of Troy net income for the quarter fell 9.2%, from $39.8 million to $36.1 million year-over-year. Earnings per share was $1.50, compared with $1.64 at the same time last year. For the year, net income dropped 36.1%, from $224 million to $143 million year-over-year. Earnings per share was $5.95, compared with $9.17 year-over-year.
Helen of Troy's corporate headquarters is in El Paso, Texas, and its stock is traded on the NASDAQ under the HELE symbol. Stock quote at Marketwatch.com.
