Alberto Culver reports solid 2Q results
MELROSE PARK, Ill. Alberto-Culver, whose brands include TRESemme, Alberto V05, Nexxus and St. Ives, reported solid second quarter results thanks, in part, to strong sales of TRESemme and Nexxus.
“In am particularly proud that in the U.S., TRESemme and Nexxus’ consumer consumption rates, a critical measure of the health of our brands, both increased at double-digit rates during the latest 12 and 52 week periods, far outpacing the category,” stated president and chief executive officer V. James Marino. “In a challenging retail environment, characterized by mixed consumption trends, we were able to deliver another record quarter of sales and earnings growth for our shareholders.”
Net sales for the quarter increased 7.7 percent to $412.8 million from $383.4 million in the year-ago period.
Including continuing and discontinued operations, the company reported net earnings of $29 million, or 28 cents per share, compared with net earnings of $22.6 million, or 23 cents per share, in the year-ago period.
In November 2006, the company separated its consumer products business from its beauty supply distribution business. It resulted in the formation of two separate and independent publicly-traded companies: new Alberto-Culver, a manufacturer and marketer of beauty care and other personal care products, and Sally Beauty Holdings, a distributor of professional beauty supplies. Beginning in the first quarter of fiscal year 2007, the results of operations of Sally Beauty and Beauty Systems Group are reported as discontinued operations.
The company also announced that its board of directors has approved the regular 6.5 cent quarterly cash dividend. The dividend will be paid on May 20, 2008 to shareholders of record on May 5, 2008.
Britain’s OFT includes P&G, Unilever in investigation
LONDON Declining comment on specifics of its inquiry, Britain’s Office of Fair Trading paid a visit to Procter & Gamble offices and requested a similar visit to Unilever headquarters in relation to a price-fixing investigation, according to published reports. Both companies deny any wrongdoing.
An English paper on Sunday reported that the OFT had raided the headquarters of leading U.K. supermarkets, including Tesco, Asda, Sainsbury’s and Wm Morrison, and seized “hundreds of e-mails.”
A spokesman for P&G, according to reports, affirmed that the OFT had paid a visit on Thursday
Likewise, a Unilever spokesman confirmed that the OFT on Friday had requested that the company hand over information about price changes. “We will, of course, respond in due course,” said the spokesman.
“Consistent with our principles, we are fully cooperating with their inquiries. We don’t have any additional information to offer at this stage but can say that it’s P&G’s policy to fully abide by the spirit and letter of the law,” P&G stated.
The supermarkets involved in last week’s raids have rejected any suggestion of wrongdoing, as well.
Dove debuts go fresh products in three fragrances
ENGLEWOOD CLIFFS, N.J. Unilever’s Dove has introduced a new collection of products, dubbed go fresh, geared toward 20-something women.
The Dove go fresh collection includes deodorants, matching body mists, body wash, beauty bar, hand and body lotion, shampoos and conditioners. The products are available in three fragrances—Refreshing, which is waterlily and mint; Energizing, which is grapefruit and lemongrass; and Cooling, which is cucumber and green tea.
The Dove go fresh Body Mist is a first for the brand. It provides a light burst of long-lasting freshness with a hint of Dove moisturizer. It is located in the antiperspirant/deodorant aisle, according to Unilever.