Consumer health company Kenvue’s sales have dropped in its first quarter of trading in 2025.
Net sales at Johnson & Johnson’s (J&J) spinoff consumer health company fell by 3.9% to US$3.7bn, attributed to an organic sales decline of 1.2% and foreign currency headwinds.
Skin care and beauty sales also declined by 7.3% during the three-month period.
Aveeno, Neutrogena, Johnson’s, Tylenol and Dr.Ci:Labo are among the brands included in the consumer brand owner’s portfolio.
“In Q1, our teams executed our plans while continuing to navigate an evolving macro and consumer environment,” said Thibaut Mongon, Kenvue’s CEO.
“We are committed and focused on activating our brands while staying agile and flexible to accelerate sustainable, profitable growth.”
Despite the rocky financial update, the overall results beat analyst expectations and saw shares in the company jump 6.5% in early trading on 9 May.
Kenvue has also increased its full-year outlook for 2025 to reflect the impact of incremental costs associated with US President Donald Trump’s tariff hikes.
Net sales are expected to increase by 1% to 3% year-over-year.
The company said it is working to reduce the financial impact of tariffs through several “mitigation actions” – the specifics of which it did not disclose.
Kenvue has also appointed Amit Banati as its new CFO, effective 12 May 2025.
He will be responsible for overseeing the finance and strategy functions and supporting initiatives aimed at accelerating profitable growth.
Banati succeeds Paul Ruh, who will remain with the company for a brief period to help ensure a smooth transition.
“We are thrilled to welcome Amit to Kenvue and look forward to leveraging his deep industry expertise and business transformation experience as we continue to focus on accelerating Kenvue’s profitable growth and delivering value for shareholders,” added Mongon.
“With much of the work to establish Kenvue as an independent company completed and our strengthened commercial and operational foundations in place, now is the right time for a CFO transition.
J&J originally announced plans to separate its consumer health arm into a new publicly listed company in November 2021.
Kenvue was valued at around US$41bn in its initial public offering in 2023.
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