Exploration helps further focus the Company around its Leadership
Brands
EL PASO, Texas--(BUSINESS WIRE)--
Helen of Troy Limited (NASDAQ: HELE) (“the Company”), designer,
developer and worldwide marketer of consumer brand-name housewares,
health and home, and beauty products, today announced it is in the
process of exploring the divestiture of it’s Personal Care Business, a
subset of the Company’s Beauty Segment. The Personal Care Business
includes liquid, powder and aerosol products under brands such as Pert,
Brut, Sure and Infusium. This potential divestiture advances the
Company’s strategy to focus its resources on its Leadership Brands.
Those Leadership Brands, Braun, Honeywell, PUR, Vicks, Hot Tools, OXO,
and Hydro Flask, are among the highest volume, highest margin and most
asset-efficient businesses at Helen of Troy.
Julien R. Mininberg, Chief Executive Officer, stated: “Leadership Brands
remain the primary focus for Helen of Troy. As it relates to our Beauty
Segment, today’s announcement of a formal process for the Personal Care
brands allows us to concentrate resources on Beauty appliances,
including our market-leading Hot Tools and Revlon brands.”
“We believe our well-established strategy positions Helen of Troy for
continued and further long-term sales and profit growth. That strategy
centers on driving further improvements across our current businesses,
our geographic footprint, our global shared services, and the overall
strength of our organization, while pursuing additions to our Leadership
Brand portfolio through acquisition. Overall, we believe we have the
balance sheet, the capabilities, the culture, and the passionate,
owner-minded people to elevate our brands and business to a higher level
of growth.”
Forward Looking Statements:
Certain written and oral statements made by our Company and
subsidiaries of our Company may constitute “forward-looking statements”
as defined under the Private Securities Litigation Reform Act of 1995.
This includes statements made in this press release. Generally, the
words “anticipates”, “believes”, “expects”, “plans”, “may”, “will”,
“should”, “seeks”, “estimates”, “project”, “predict”, “potential”,
“continue”, “intends”, and other similar words identify forward-looking
statements.
All statements that address operating results, events
or developments that we expect or anticipate will occur in the future,
including statements related to sales, earnings per share results, and
statements expressing general expectations about future operating
results, are forward-looking statements and are based upon our current
expectations and various assumptions.
We believe there is a
reasonable basis for our expectations and assumptions, but there can be
no assurance that we will realize our expectations or that our
assumptions will prove correct.
Forward-looking statements are
subject to risks that could cause them to differ materially from actual
results.
Accordingly, we caution readers not to place undue
reliance on forward-looking statements.
The forward-looking
statements contained in this press release should be read in conjunction
with, and are subject to and qualified by, the risks described in the
Company’s Form 10-K for the year ended February 28, 2018, and in our
other filings with the SEC.
Investors are urged to refer to the
risk factors referred to above for a description of these risks.
Such
risks include, among others, our ability to deliver products to our
customers in a timely manner and according to their fulfillment
standards, the costs of complying with the business demands and
requirements of large sophisticated customers, our relationships with
key customers and licensors, our dependence on the strength of retail
economies and vulnerabilities to any prolonged economic downturn, our
dependence on sales to several large customers and the risks associated
with any loss or substantial decline in sales to top customers,
expectations regarding any proposed restructurings, our recent and
future acquisitions or divestitures, including our ability to realize
anticipated cost savings, synergies and other benefits along with our
ability to effectively integrate acquired businesses or separate
divested businesses, circumstances which may contribute to future
impairment of goodwill, intangible or other long-lived assets, the
retention and recruitment of key personnel, foreign currency exchange
rate fluctuations, disruptions in U.S., U.K., Eurozone, and other
international credit markets, risks associated with weather conditions,
the duration and severity of the cold and flu season and other related
factors, our dependence on foreign sources of supply and foreign
manufacturing, and associated operational risks including, but not
limited to, long lead times, consistent local labor availability and
capacity, and timely availability of sufficient shipping carrier
capacity, labor and energy on cost of goods sold and certain operating
expenses, the geographic concentration and peak season capacity of
certain U.S. distribution facilities increases our exposure to
significant shipping disruptions and added shipping and storage costs,
our projections of product demand, sales and net income are highly
subjective in nature and future sales and net income could vary in a
material amount from such projections, the risks associated with the use
of trademarks licensed from and to third parties, our ability to develop
and introduce a continuing stream of new products to meet changing
consumer preferences, trade barriers, exchange controls, expropriations,
and other risks associated with U.S. and foreign operations, the risks
associated with significant tariffs or other restrictions on imports
from China or any retaliatory trade measures taken by China, the risks
to our liquidity as a result of changes to capital market conditions and
other constraints or events that impose constraints on our cash
resources and ability to operate our business, the costs, complexity and
challenges of upgrading and managing our global information systems, the
risks associated with information security breaches, the risks
associated with product recalls, product liability, other claims, and
related litigation against us, the risks associated with accounting for
tax positions, tax audits and related disputes with taxing authorities,
the risks of potential changes in laws in the U.S. or abroad, including
tax laws, regulations or treaties, employment and health insurance laws
and regulations, and laws relating to environmental policy, personal
data, financial regulation, transportation policy and infrastructure
policy along with the costs and complexities of compliance with such
laws, and our ability to continue to avoid classification as a
controlled foreign corporation.
We undertake no obligation to
publicly update or revise any forward-looking statements as a result of
new information, future events or otherwise.
About Helen of Troy Limited:
Helen of Troy Limited (NASDAQ: HELE) is a leading global consumer
products company offering creative solutions for its customers through a
strong portfolio of well-recognized and widely-trusted brands, including
OXO, Hydro Flask, Vicks, Braun, Honeywell, PUR, and Hot Tools. All
trademarks herein belong to Helen of Troy Limited (or its affiliates)
and/or are used under license from their respective licensors.
For more information about Helen of Troy, please visit
www.hotus.com
.
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Investors:
Helen of Troy Limited
Anne Rakunas,
Director, External Communications
(915) 225-4841
ICR, Inc.
Allison Malkin, Sr. Managing Director
(203) 682-8200
Source: Helen of Troy Limited