Helen of Troy 3rd-quarter profit surges as sales of houseware products improves

Helen of Troy 3Q profit up, houseware sales rise

EL PASO, Texas — Helen of Troy Ltd. said Monday that its third-quarter profit surged as sales of its houseware products improved and expenses held nearly flat.

The personal care and consumer products developer earned $24.7 million, or 80 cents per share, for the three months ended Nov. 30. That’s up 64 percent from $15.1 million, or 48 cents per share, a year earlier.

The performance surpassed the forecast of analysts polled by Thomson Reuters, who predicted a profit of 73 cents per share. These estimates generally exclude one-time items.

Quarterly sales grew 2 percent to $189.4 million from $185.6 million on strong sales of its OXO branded houseware items, particularly new products for dry and wet food storage.

But this missed Wall Street’s estimate for third-quarter revenue of $198 million.

Sales for the personal care category, which includes grooming, skin care and hair care items, fell 4 percent to $134.2 million.

During the economic downturn many consumers have held off on more discretionary purchases, like those for personal care items, and have concentrated on more of the basics, like food.

Selling, general and administrative expenses were nearly flat at $53.7 million.