Osprey and Hydro Flask Parent Cuts Fiscal Year Outlook on Weak Consumer and DC Issues

July 9, 2024

Helen of Troy Limited reported fiscal first-quarter consolidated net sales revenue decreased 12.2 percent to $416.8 million, compared to $474.7 million in the prior-year comparative quarter. The decline was primarily driven by a decrease in sales of hair appliances, prestige hair care products and humidifiers in Beauty & Wellness and a decline in Home & Outdoor.

Consolidated gross profit margin increased 330 basis points to 48.7 percent of net sales, compared to 45.4 percent in the prior-year comp quarter. Consolidated operating income was $30.8 million, or 7.4 percent of net sales revenue, compared to $40.6 million, or 8.6 percent of net sales revenue, in the prior-year period. SGB