Hydro Flask again boosted the sales and profit of its parent company, Helen of Troy, for its 2018 Q4.
Hydro Flask and partner brand OXO lead HOT’s Housewares segment to a 13.4% increase in net sales for the quarter, outpacing the full company’s 12.5% growth, the company said in its quarterly earnings release.
“This growth was partially offset by the unfavorable comparative impact of strong sales into the club channel in the same period last year,” the company said.
“Segment net sales also benefited from the favorable impact of net foreign currency fluctuations of approximately $0.4 million, or 0.4%. GAAP operating margin was 15.6% compared to 20.0%,” the company said
“The decrease in operating margin is primarily due to an increase in promotional programs, unfavorable channel mix, higher marketing and new product development expense, higher personnel costs, and restructuring charges of $0.2 million” for the segment, the company said.
For its fiscal 2019, HOT expects consolidated net sales revenue company-wide to be in the range of $1.485 to $1.510 billion, which implies consolidated sales growth of 0.4% to 2.1%.
Hydro Flask and OXO together are projected to see net sales growth in the mid-single digits, the company said.
Hydro Flask and OXO are among seven brands that form HOT’s Leadership Brands core, meaning they see increased marketing and sales support and are expected to drive net sales revenue.
