Financial slowdown at Helen of Troy.* Household and personal care marketer Helen of Troy Limited Helen of Troy Limited (NASDAQ: HELE) is a manufacturer of personal care electrical products under brands licensed from Vidal Sassoon, Revlon, Dr. Scholl's, Sunbeam, Health o meter, Sea Breeze, and Vitapoint. It is also the parent corporation of OXO International. announced sales dropped 11.8% to $185.6 million, in the third quarter ended Nov. 30. Net earnings slipped 5% to $15 million. The decline in sales reflects the impact of the deteriorating de·te·ri·o·rate v. de·te·ri·o·rat·ed, de·te·ri·o·rat·ing, de·te·ri·o·rates v.tr. To diminish or impair in quality, character, or value: global economic conditions on the retail consumer, a compressed and highly promotional holiday shopping season in the U.S., and the strengthening of the U.S. dollar against other currencies, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the company. Helen of Troy's sales for the nine months ended Nov. 30, 2008 declined 4.8% to $484.2 million. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight in the personal care segment for the third quarter decreased 13.9% to $140.3 million from the same period last year. Personal care net sales for the nine-month period ended Nov. 30, 2008 decreased 9% to $353.2 million, reported the company. Gerald J. Rubin, chairman, chief executive officer and president of the company, stated, "We believe that recent credit market instability, extraordinary stock market volatility, increases in unemployment rates and the uncertainty regarding the impact and extent of U.S. government intervention on behalf of the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and automotive sectors has fueled consumer uncertainty ... along with the impact of foreign currency fluctuations, all have adversely affected sales in our consumer markets." |
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