EL PASO, Texas (BRAIN) — While Helen of Troy's Home & Outdoor group net sales remained virtually unchanged year-over-year in the second quarter, overall revenue was down 5.7%.
The Home & Outdoor group, which includes brands Osprey and Hydro Flask, had net sales of $240 million, compared with $240.6 million at the same time last year. Overall consolidated net sales for the quarter ending Aug. 31 were $491.6 million year-over-year, compared with $521.4 million.
The slight decline in Home & Outdoor net sales was due to brick-and-mortar sales decreasing in the insulated beverage category, lower home category sales in the club and closeout channels, and the impact of the Bed, Bath & Beyond bankruptcy, according to Helen of Troy. Partially offsetting those factors were an increase in online channel sales driven by the Hydro Flask travel tumbler launch.
"During the quarter we delivered net sales and adjusted EPS at the high end of our expectations," said CEO Julien R. Mininberg. "I'm pleased with the consistency of our results as we work toward returning to growth."
Net income for the quarter fell 10.7%, from $30.7 million to $27.4 million year-over-year. Earnings per share was $1.14, compared with $1.28 at the same time last year, decreasing 10.9%.
Helen of Troy announced that Brian Grass will remain the CFO after taking the position on an interim basis after Matt Osberg resigned in April.
Helen of Troy's corporate headquarters is in El Paso and its stock is traded on the NASDAQ under the HELE symbol. Stock quote at Marketwatch.com.
