Physicians Formula buys back common stock, evaluates price per share
AZUSA, Calif. Physicians Formula’s board authorized in September the repurchase up to $10 million of the company’s outstanding common stock.
The company had approximately 14,096,227 shares of common stock outstanding as of Aug. 8. In connection with the repurchase program, the company also announced that it has adopted a written trading plan under Rule 10b5-1 under the Securities Exchange Act of 1934, to facilitate the repurchase of shares of common stock under the repurchase program.
In addition, the beauty company has entered into an amendment to its existing senior credit agreement with Union Bank of California, N.A. to permit borrowings under the revolving credit facility to fund the repurchase program.
“Our board believes that at the current stock price, our stock is undervalued based on many criteria, including the long-term growth prospects for the company, and that the repurchase program is an effective means to increase shareholder value,” stated Ingrid Jackel, chief executive officer of Physicians Formula. “Our board also believes that we are well positioned to increase long-term shareholder value by growing our business through product innovation and differentiation, and by providing strong support for existing and new products through creative promotional activities.”
Axe brand men’s care extends into hair products
ENGLEWOOD CLIFFS, N.J. Unilever’s Axe brand for guys is expanding its portfolio with the launch of a new hair care line dubbed Axe Hair.
The collection includes several Axe shampoos, including Axe De-Glue Shampoo Plus Scrub with rock crystals to remove product build up in the hair; Axe De-Poof Shampoo to deflate hair; and Axe Anti-Dandruff Shampoo Plus Conditioner with zinc-based dandruff control.
The line also includes Axe Conditioner and Axe styling products. Styling products include Axe Messy Look Paste, Axe Spiked-Up Look Putty, Axe Clean-Cut Look Pomade and Axe Shaggy Look Cream.
Starting in December, Axe Hair will be available at most food, drug, club and mass outlets. The shampoos and conditioner are priced at $4.99 each. The styling aids are priced at $6.99 each.
‘Dancing with the Stars’ judge endorses Listerine whitening system
MORRIS PLAINS, N.J. Looking to promote its new Listerine Whitening Vibrant White Pre-Brush Rinse and Listerine Whitening Pen, the brand has teamed up with “Dancing with the Stars” judge Carrie Ann Inaba.
“With the new fall season of ‘Dancing with the Stars’ kicking off, I’m busier than ever and always looking for products that are easy, convenient and effective. White teeth are especially important during the live shows, and incorporating Listerine Whitening into my daily routine is a simple way to achieve results,” stated Inaba, who is a consultant to Johnson & Johnson Healthcare Products division of McNeil-PPC.
The new Listerine Whitening Vibrant White Pre-Brush Rinse is a multi-action rinse that provides whiter and brighter teeth, according to the company. The rinse has extra whitening power plus polyphosphates to help prevent stains. It also helps fight plague buildup and controls tartar.
The Listerine Whitening Pen provides the benefit of on-the-go whitening. According to the company, users will see, in two weeks, a noticeable difference in the whiteness of their teeth. To use, pop off the cap and apply a thin layer of whitening gel to the front surface of each tooth. The sponge-tip pen allows for targeted application so users can whiten surfaces of teeth that require special attention.
Listerine Whitening Vibrant White Pre-Brush Rinse has a suggested retail price of $6.15. The Listerine Whitening Pen has a suggested retail price of $12.99.