Happi Staff11.12.20
Edgewell Personal Care Company has announced results for its fourth fiscal quarter 2020 and full fiscal year ended September 30, 2020, and provided its financial outlook for fiscal 2021.
Net sales were $488.8 million in the fourth quarter of fiscal 2020, a decrease of 7.4% when compared to the prior year quarter, and $1,949.7 million for the full year, a decrease of 8.9% compared to the prior year.
The Sun and Skin Care segment performed the best in the fourth quarter. Its net sales increased $12.1 million, or 15.0%, as compared to the prior year period. On the other hand, net sales for the Wet Shave and Feminine Care segments decreased 4.0% and 10.8% respectively.
"We are pleased to close out fiscal 2020 with a fourth quarter that demonstrated a clear return to more stable underlying top line and bottom line performance, underpinned by healthy gross margin results. North American Wet Shave and Sun Care, and continued expansion of our Wet Ones brand, were all areas of strength. Our strong focus on execution and disciplined approach to commercial investment and brand activation, all helped fuel this performance," said Rod Little, Edgewell's president and chief executive officer.
Little continued, "Over the course of this challenging year, we successfully stabilized our top line, returned to gross margin accretion, over-delivered on our cost savings program and generated $190 million in free cash flow, while successfully closing on the Cremo acquisition. As we enter fiscal 2021, we are confident in our positioning and excited to execute on the next chapter of growth for Edgewell."
For fiscal 2021, the company is forecasting reported net sales to increase mid-single digits.
Net sales were $488.8 million in the fourth quarter of fiscal 2020, a decrease of 7.4% when compared to the prior year quarter, and $1,949.7 million for the full year, a decrease of 8.9% compared to the prior year.
The Sun and Skin Care segment performed the best in the fourth quarter. Its net sales increased $12.1 million, or 15.0%, as compared to the prior year period. On the other hand, net sales for the Wet Shave and Feminine Care segments decreased 4.0% and 10.8% respectively.
"We are pleased to close out fiscal 2020 with a fourth quarter that demonstrated a clear return to more stable underlying top line and bottom line performance, underpinned by healthy gross margin results. North American Wet Shave and Sun Care, and continued expansion of our Wet Ones brand, were all areas of strength. Our strong focus on execution and disciplined approach to commercial investment and brand activation, all helped fuel this performance," said Rod Little, Edgewell's president and chief executive officer.
Little continued, "Over the course of this challenging year, we successfully stabilized our top line, returned to gross margin accretion, over-delivered on our cost savings program and generated $190 million in free cash flow, while successfully closing on the Cremo acquisition. As we enter fiscal 2021, we are confident in our positioning and excited to execute on the next chapter of growth for Edgewell."
For fiscal 2021, the company is forecasting reported net sales to increase mid-single digits.
