BUZZ-Helen of Troy drops on gloomy annual forecast

Reuters
01/09
BUZZ-Helen of Troy drops on gloomy annual forecast

** Home and beauty products maker Helen of Troy's HELE.O shares fall as much as 10% to $53.32, lowest since Sept. 11

** Company forecasts FY25 consolidated net sales to decline in the range of 4.6% to 5.8%, steeper than the prior target of a 3.5% to 6% drop

** Says sales were impacted by lingering inflation, a decrease in discretionary purchases, and executional challenges at its Tennessee distribution facility that occurred in the first quarter

** Tightens its adj. earnings per share forecast to a range of $7.15 to $7.40 from the prior range of $7.00 to $7.50

** Reports Q3 net sales down 3.4% to $530.7 mln, missing estimates of $533.1 mln, according to data compiled by LSEG

** Two of six brokerages rate the stock "buy" or higher, four "hold"; their median PT is $85

** HELE stock fell about 50% in 2024

(Reporting by Aamir Sohail in Bengaluru)

((Aamir.Sohail@thomsonreuters.com;))

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