EL PASO, Texas–Second-quarter net income for Helen of Troy rose 50.1 percent to $15.9 million.
The company managed this bottom-line surge on a gain of 5.6 percent in net sales for the quarter, which totaled $162.2 million. This pickup included a 7.3 percent increase in sales for the company’s housewares segment, and a 4.9 percent rise in sales for the personal-care sector. Helen of Troy also shaved 4.1 percent off its selling, general and administrative expenses, while cost of goods sold increased on a dollar basis but slipped as a percentage of sales by 10 basis points.
Gerald Rubin, chairman, president and chief executive officer, said Helen of Troy is performing well on a financial basis in spite of the challenging retail economy. Rubin added that the company is still on course with its business plan for the fiscal year, which includes new products, innovation and increased market share through expanding its retail channels of distribution.
