Helen of Troy reported sales declined 1.6% year-over-year in the quarter ended Nov. 30, while the Home & Outdoor group’s sales increased 3.1%.
The Home & Outdoor group includes Osprey and Hydro Flask, among other brands.
The group’s net sales were $235.9 million compared with $228.9 million at the same time last year.
This made up for a 4.9% decline in net sales for the Beauty & Wellness group.
Noel M. Geoffroy, Helen of Troy’s chief operating officer and incoming CEO, said third quarter sales “were slightly better than our expectation.”
Company-wide net income for the quarter was $75.8 million, increasing 46.4% compared to the prior-year period.
Osprey Up on Travel Demand
During a call with investors, Geoffroy said Osprey is benefiting from new innovations that meet consumers’ desires to get out and travel.
“Strong demand and a better inventory position compared to the prior-year period drove sales of Osprey travel packs, travel wheeled packs, and lifestyle packs,” she said.
Geoffroy also pointed to new innovations such as Osprey’s Sojourn travel series, redesigned for Fall 2023, that provide luggage and travel packs for adventure-seeking travelers.
The all-new AO collection of lifestyle packs has also been doing well, she added.
Internationally, Osprey continued to perform well with growth in key regions of Great Britain, Germany, and France driven by strong travel demand and a robust product line-up.
“We continue to see the strong travel demand, better inventory position than we had a year ago, and growth across all of the different portions of the business,” Geoffroy said. “Obviously there’s the tech path that is the heritage of the brand, but also nice growth in travel and duffel and lifestyle as we extend that brand.”
Hydro Flask Shines Online
For Hydro Flask, Geoffroy said consumer demand in the insulated drinkware category continued to shift from bottles to tumblers.
“We benefited from a full quarter of our new travel tumbler, including the launch of some new on-trend colors,” she added.
Hydro Flask rolled out its tumbler line to retailers in September and October and was pleased with both consumer and retailer reception, according to Geoffroy.
Online sales for Hydro Flask were up, driven by demand for travel tumblers.
As part of the holiday sales season, Geoffroy said Hydro Flask offered customization and complementary personalization for consumers “that did quite well.”
Bart Schaneman can be reached at firstname.lastname@example.org.