Helen of Troy Posts $10.6 Million Net Income for 2Q Oct 10, 2008

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Second-quarter net income for Helen of Troy totaled US$10.6 million, a decline of 42% from 3Q 2007. Net sales in 2Q slipped 2.8% to $153.5 million. On a segment basis, Helen of Troy’s personal-care unit suffered a 10.2% drop in net sales in the second quarter, to $106.4 million. Its housewares sector’s net sales rose 19.6% to $47.1 million.

Gerald Rubin, chairman, president and CEO, called the current retail economy “extremely challenging”. “Many of our retail customers continue to experience a slowing sales environment as we enter the critical fall and holiday sales season,” Rubin said.

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