Edgewell Personal Care holds a pole position in supermarkets and pharmacies through its shaving, men’s grooming, suncare and feminine care brands. Household names such as Schick, Schick Intuition, Bulldog, Jack Black, Banana Boat, Hawaiian Tropic, Wet Ones, Carefree and Stayfree.
Edgewell’s Q4 net sales reached US$536.9 million, pushing the multinational’s full year sales to US$2.171 billion – an increase of 4 per cent.
As Covid-19 restrictions lifted in the Northern Hemisphere, suncare was the bullet performer. Banana Boat and Hawaiian Tropic reported a combined sales jump of 64 per cent in Q4.
By contrast, wet shave sales – men’s and women’s system razors, disposables and shave preps – saw a 3 per cent uptick in sales. Men’s razors and shave preps performed better than their female counterparts as more males returned to working in offices around the world.
Edgewell bought Billie, the US award-winning women’s shave and bodycare brand, in November last year for US$310 million. The main aims were to add DTC capacity to Edgewell’s portfolio and to introduce Billie products to bricks-and-mortar stores earlier this year. The acquisition is yet to make a serious impact on Edgewell’s bottom line.
Sales of Wet Ones had soared during the pandemic as consumers worldwide became more conscientious about hygiene. But old habits have returned and sales of Wet Ones slumped 26 per cent, compared to a high point 12 to 18 months ago.
We delivered our second consecutive year of mid-single digit organic net sales growth, despite the increasingly challenging macro-operating environment, said Rod Little, president and CEO of Edgewell.
“These results reflected the continued successful execution of our growth strategy, that has driven structural improvements in our business across brand building, product innovation, and retail execution.
“As we look to fiscal 2023, we again expect to deliver another year of mid-single-digit organic net sales growth, which coupled with our on-going cost and productivity savings initiative and revenue management execution, will enable us to deliver strong operational performance.”
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