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Helen Of Troy Exploring Options For Tactica Depilatory Business

This article was originally published in The Rose Sheet

Executive Summary

Helen of Troy is "evaluating strategic alternatives" for its investment in Tactica, the firm's depilatory products business, Chairman, President and CEO Gerald Rubin announced during a second quarter sales and earnings presentation Oct. 2

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Tactica sale

Helen of Troy sells its 55% ownership interest in Tactica International depilatory business to brand's current operating management, company announces April 30. Firm had announced plans to evaluate "strategic alternatives" for Tactica in October (1"The Rose Sheet" Oct. 6, 2003, p. 7) In light of the sale, Helen of Troy is revising its fiscal Q4 (ended Feb. 29) and year-end guidance. Fourth quarter net income from core business activities is expected to be approximately $16 mil., with an $8.5 mil.-$9.5 mil. loss attributed to Tactica operations. Consolidated net earnings, which will be announced May 13, are anticipated to be $6.5 mil.-$7.5 mil. Helen of Troy forecasts full-year consolidated net earnings of $59.2 mil.-$60.2 mil. and net income from the core business of $71 mil., with Tactica recording a $10.8 mil.-$11.8 mil. loss...

Tactica sale

Helen of Troy sells its 55% ownership interest in Tactica International depilatory business to brand's current operating management, company announces April 30. Firm had announced plans to evaluate "strategic alternatives" for Tactica in October (1"The Rose Sheet" Oct. 6, 2003, p. 7) In light of the sale, Helen of Troy is revising its fiscal Q4 (ended Feb. 29) and year-end guidance. Fourth quarter net income from core business activities is expected to be approximately $16 mil., with an $8.5 mil.-$9.5 mil. loss attributed to Tactica operations. Consolidated net earnings, which will be announced May 13, are anticipated to be $6.5 mil.-$7.5 mil. Helen of Troy forecasts full-year consolidated net earnings of $59.2 mil.-$60.2 mil. and net income from the core business of $71 mil., with Tactica recording a $10.8 mil.-$11.8 mil. loss...

Tactica settlement

Helen of Troy division must pay $300,000 civil penalty for violating FTC's mail order rule under consent decree announced April 23. The commission alleged that Tactica failed to ship products, including Epil-Stop depilatory kit and Ion-Aire hair dryer, to consumers when promised, or within 30 days of their order. Helen of Troy purchased a 55% stake in the company in 2000, but recently indicated it was considering selling all or part of its stake (1"The Rose Sheet" Oct. 6, 2003, p. 7)...

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