08.29.17
Hain Celestial reported a 1% decline in FY 2017 sales to $2.85 billion, which the company blamed, in part, on exchange rates. Things were worse closer to home. Hain Celestial US sales fell 5% to $1.2 billion, but that includes a $60.0 million impact from inventory realignment of certain customers and product rationalization and $14.0 million in foreign exchange movements driven by the Ella's Kitchen brand, which will be reported in the UK segment going forward. Company executives noted that a couple of personal care brands, including Alba Botanica and Jason, reported strong results.
Elsewhere, Hain Celestial United Kingdom reported net sales of $768.3 million, a 1% decrease, compared to the prior year. Within the Rest of World segment, Hain Celestial Canada net sales of $151.5 million, a 7% increase; Hain Celestial Europe reported net sales of $172.6 million, a 12% increase.
During the year, Hain Celestial launched more than 200 new products and created several new core category platforms including Pure Personal Care.
"We are well-positioned among some of the fastest growing trends, categories and channels in consumer products today and are fortunate to have the financial flexibility to support our future business growth and capital allocation priorities," said CEO Irwin Simon. "We believe our continued ability to evolve our business as we grow our organic, natural and better-for-you brands, expand relationships with new and existing customers and attract new consumers globally, paired with Project Terra, will fuel our success and create long-term value for our shareholders."
Looking ahead, the company expects FY2018 sales to increase 4-6%.
Elsewhere, Hain Celestial United Kingdom reported net sales of $768.3 million, a 1% decrease, compared to the prior year. Within the Rest of World segment, Hain Celestial Canada net sales of $151.5 million, a 7% increase; Hain Celestial Europe reported net sales of $172.6 million, a 12% increase.
During the year, Hain Celestial launched more than 200 new products and created several new core category platforms including Pure Personal Care.
"We are well-positioned among some of the fastest growing trends, categories and channels in consumer products today and are fortunate to have the financial flexibility to support our future business growth and capital allocation priorities," said CEO Irwin Simon. "We believe our continued ability to evolve our business as we grow our organic, natural and better-for-you brands, expand relationships with new and existing customers and attract new consumers globally, paired with Project Terra, will fuel our success and create long-term value for our shareholders."
Looking ahead, the company expects FY2018 sales to increase 4-6%.
