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Helen of Troy sees solid sales growth, but flat profits
Leading consumer products company Helen of Troy saw solid growth in all its business segments during the second quarter, which led to record sales of its stable of well known brands, but stagnant profits.
Sales increased 11.1% to $319 million during the quarter ended August 31, but profits were essentially flat at $23.3 million, or 72 cents a share, compared to $23 million, or 72 cents a share. Gross margins declined to 38.6% from 40.7% the prior year while expenses as a percent of sales declined to 29.1% from 30%.
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Costco comps up for the fourth quarter
Changes in foreign exchange rates had a negative impact on Costco’s comparable store sales for the fourth quarter ended Sept. 1, but the wholesaler still reported increases in both its U.S. and international markets.
The company’s comparable sales for the quarter increased 5%. U.S. comparable store sales increased 5% for the quarter, while international comparable store sales increased 4%.