Prestige Consumer's First Quarter Exclusively In OTCs Is Prelude To Growth
Prestige Consumer's sales in its latest quarter were lifted by gas relief and ear wax products, but the gains were offset "revenue recognition" accounting changes and slower sales of BC and Goody's as supplies of the analgesics transitioned to new packaging.
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BC and Goody's OTC acetaminophen formulations perhaps are the firm's most known consumer health brands but they account for 12% of its revenues while its Monistat and Summer's Eve brands drove 27% of its sales in its latest quarter. The feminine hygiene brands' contribution, says a Jefferies analyst , will only grow with the firm selling its household care brands to focus entirely on the consumer health market.
Colgate agrees to purchase Hello Products direct-to-consumer oral care brand, complementing its Colgate brand and its Tom’s of Maine natural-positioned line. The firm will pay with a combination of cash and debt in the deal expected to close no later than the end of February.
P&G’s grooming segment grew 4% in its latest quarter, the third consecutive of organic growth as the Gillette brand wins 18m customers in 12 months. The results suggest investments the company made to ward off subscription-based competitors are starting to pay off.