11.12.21
Leading consumer products company Edgewell Personal Care reported net sales were $543.2 million in the fourth quarter of fiscal 2021, reflecting an increase of 11.1% compared to the prior year quarter, and $2 mb
North America organic net sales increased 11.0% driven by strong growth in sun care and grooming, women's systems, disposables and feminine care. International organic net sales increased 5.6% driven by growth in sun care and women's systems.
"We had a strong finish to our fiscal year with a fourth quarter organic sales increase of over 8% and an operating income increase of over 50%,” said Rod Little, Edgewell's president and CEO. “Our top-line strength was broad based, with growth in both our North America and International markets, as well as across all segments.”
Little said the Company’s newly-launched growth strategy evinces the current year’s success.
“This is a testament to our team members who have executed with excellence in a challenging environment, as we made meaningful investments in our brands and products, launched innovation and increased digital engagement. This resulted in organic net sales growth of nearly 4% for the fiscal year, gross margin accretion (EBITDA) and meaningful increases in adjusted earnings before interest, taxes, depreciation, and amortization and earnings per share (ESP).”
Looking ahead to 2022, Little said the company seeks to invest in its brands and capabilities while accelerating productivity and efficiency efforts to drive adjusted EPS and EBITDA growth. The brand will repurchase $300 million of common stock over the next three years, Little said.
Wet Shave
Net sales for wet shave (disposables, shave preps and men and women’s systems) increased $12.4 million, or 3.8%. Organic net sales increased $11.8 million or 3.6%, driven by ongoing growth in women's shave, both branded and private label, and higher consumption across the full category.
By region, North America organic net sales increased 3% while international markets increased 4.2%. Wet shave segment profit increased $15.2 million, or 23.7%, driven by higher sales and gross profit, as well as lower advertising and promotional spending.
Sun and Skin Care
Sun and skin care (Sun Care, Wipes, Bulldog, Cremo and Jack Black) net sales increased $35.1 million, or 37.9%. Organic net sales increased $22.8 million, or 24.6%. The increase in organic net sales was primarily driven by sun care growth of 56%, reflecting increased consumption and market share gains in the US, and men's grooming, which increased 20.8%, including strong September sales from Cremo and accelerated growth from Jack Black. Wet Ones organic net sales decreased 6.2% in the quarter. Sun and Skin Care segment profit increased $11.1 million, driven by increased volumes and higher gross margin, partly offset by higher A&P spending.
Feminine Care
Feminine care (Tampons, pads and liners) net sales increased $6.9 million, or 9.9%. Organic net sales increased $6.5 million, or 9.4%, driven by increased consumption and market share growth in tampons. Feminine care segment profit increased $0.2 million, or 2.2% including the US, Canada, Mexico, Germany, Japan, the UK and Australia, with approximately 6,900 employees worldwide.