Helen of Troy Limited has recently released its 10-Q report, providing a detailed look into its financial condition and operations. The company operates in two segments: Home & Outdoor and Beauty & Wellness, offering a wide range of consumer products across various regions. The Home & Outdoor segment includes kitchen utensils, food storage containers, and outdoor sports packs, while the Beauty & Wellness segment offers hair appliances, grooming tools, and health products such as thermometers and air purifiers.
In the latest 10-Q report, Helen of Troy mentioned its global restructuring plan, Project Pegasus, aimed at expanding operating margins through efficiency initiatives and cost reduction. The company incurred $3.5 million and $6.9 million in pre-tax restructuring costs during the three and nine-month periods ended November 30, 2024, related to Project Pegasus. The report also highlighted the completion of Phase II of its transformation strategy, which resulted in net sales growth and gross profit margin expansion. Additionally, the company initiated its Elevate for Growth Strategy, outlining its long-term objectives through fiscal 2030.
Furthermore, the 10-Q report discussed the completion of the acquisition of Olive & June, LLC, an omni-channel nail care brand, for a total purchase consideration of $229.4 million, funded with cash on hand and borrowings from the existing revolving credit facility. The report also detailed the geographic consolidation of the U.S. Beauty business, as part of Project Pegasus, and the expectations regarding restructuring charges and savings associated with the project.
As a result of these announcements, the company's shares have moved -1.1% on the market, and are now trading at a price of $58.62. For the full picture, make sure to review Helen of Troy's 10-Q report.
