Sun Care Drives Business at Edgewell

Edgewell Personal Care Company posted results for its third fiscal quarter, which ended June 30, 2017. Net sales fell 1.2% to $637.5 million. However, growth in Sun and Skin Care was more than offset by declines in Feminine Care. 
 
Sun and Skin Care net sales increased 6.5% to $9.8 million, driven by growth in both International and North America and in both the Banana Boat and Hawaiian Tropic brands.  This was partially offset by a $2.6 million decline related to the Company's exiting of the private label Sun Care business.  Growth in North America was primarily driven by lower returns and lower promotional spend compared to the prior year quarter.  Growth in International was largely driven by category growth and new distribution.  Sun and Skin Care segment profit increased $8.1 million, or 23.6%, driven primarily by lower returns, lower promotional spend and cost savings generated through restructuring programs.
 
Wet Shave net sales decreased 1.7% to $6.1 million.
 
“We delivered strong profit performance in the third quarter, in what continues to be a very difficult market environment,” said Edgewell's Chief Executive Officer, President and Chairman of the Board David Hatfield.  “Although category weakness in the US persists, and competitive intensity remains high, we delivered solid results in the quarter, driven by sales growth in International, market share gains in Wet Shave and Sun and Skin Care, both globally and in the US, and by good financial discipline.” 
 
For fiscal 2017, reported net sales are now expected to be down approximately 1% to 2%, according to the company.