First quarter consolidated net sales at Helen Of Troy were up mid-single digits as the company’s housewares division reported strong growth in the quarter ended May 31.
Consolidated net sales revenue increased 6.1% to $376.3 million compared to $354.7 million. The increase was primarily driven by a core business increase of $24.2 million, or 6.8%, reflecting growth in brick and mortar sales in the housewares segment, growth in consolidated online sales and an increase in appliance sales in the beauty segment.
These factors were partially offset by lower international sales in the health & home segment, a decline in personal care sales within the beauty segment, and the unfavorable impact from foreign currency fluctuations of approximately $2.5 million, or 0.7%.
Net income was $40.7 million, or $1.61 per diluted share, up from net income of $37.8 million, or $1.42 per diluted share.
Housewares net sales increased 23.6%, or $27.6 million, primarily due to point of sale growth and incremental distribution with existing domestic brick and mortar customers, an increase in overall online sales, and new product introductions. These factors were partially offset by lower international sales and lower club channel sales.
Beauty net sales increased 3.4%, or $2.5 million, primarily due to sales growth in the appliance category, especially online, and growth in international sales, partially offset by a decrease in brick and mortar sales and a decline in personal care.