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🔵HELEN OF TROY'S STOCK PLUMMETED

🔵HELEN OF TROY'S STOCK PLUMMETED

Day: 09 | Time: 17:10:24 Helen of Troy's stock plummeted by 30% after the company reported lower-than-expected results and reduced its forecasts due to a decrease in demand for beauty and wellness products. The decline in sales was primarily attributed to a decrease in sales of hair appliances, prestige hair care products, and humidifiers, as well as lower replenishment orders from retail customers and technical issues at the Tennessee distribution center. CEO Noel Geoffroy stated that the company faced an unusually high number of internal and external challenges in the quarter, many of which became more apparent towards the end of the quarter. As a result, the company has lowered its earnings per share and sales forecasts for the full year.

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Source: Yahoo, Bloomberg , Reuters, Trading Economics,