01.04.16
Edgewell Personal Care Company (EPC) posted results for the full year and fourth quarter that ended Sept. 30, 2015. This is Edgewell’s first quarter following the spin-off of its household products business on July 1, 2015. The historical results for the household products business are presented as discontinued operations.
Full year net sales declined 7.3% to $2.4 billion, while fourth quarter net sales decreased 14% to $560.1 million. The decline was driven by costs associated with new market entry and other transition impacts and higher trade and sales promotion spending in North America and Europe, according to the company.
“We made significant progress during Edgewell’s first quarter as a standalone company. We navigated operational complexities related to the spin-off, while taking the actions needed for long-term success,” said David Hatfield, Edgewell’s president and chief executive officer. “During the quarter, we executed against our international go-to-market initiatives and invested in our brands, actions that will help position us well strategically for the future.”
According to Hatfield, top and bottom-line results reflect those actions, and Edgewell’s results for the quarter came in below expectations, but they do not change company executives’ view of 2016 or affect the long-term strategy that were laid out in June 2015.
“We are confident that we are taking the right steps to position our company for future growth and success,” Hatfield added. “Looking ahead, we are on track with the long-term strategy and business plan that we presented to investors in June. We will continue to build on our progress to date by executing go-to-market changes, overcoming dis-synergies related to the spin and stabilizing our North America business,” Hatfield said.
Full year net sales declined 7.3% to $2.4 billion, while fourth quarter net sales decreased 14% to $560.1 million. The decline was driven by costs associated with new market entry and other transition impacts and higher trade and sales promotion spending in North America and Europe, according to the company.
“We made significant progress during Edgewell’s first quarter as a standalone company. We navigated operational complexities related to the spin-off, while taking the actions needed for long-term success,” said David Hatfield, Edgewell’s president and chief executive officer. “During the quarter, we executed against our international go-to-market initiatives and invested in our brands, actions that will help position us well strategically for the future.”
According to Hatfield, top and bottom-line results reflect those actions, and Edgewell’s results for the quarter came in below expectations, but they do not change company executives’ view of 2016 or affect the long-term strategy that were laid out in June 2015.
“We are confident that we are taking the right steps to position our company for future growth and success,” Hatfield added. “Looking ahead, we are on track with the long-term strategy and business plan that we presented to investors in June. We will continue to build on our progress to date by executing go-to-market changes, overcoming dis-synergies related to the spin and stabilizing our North America business,” Hatfield said.
