A positive start to the international sun season has boosted first fiscal quarter 2023 net sales for Banana Boat and Hawaiian Tropic-owner Edgewell Personal Care.
The US company’s net sales increased 1.3% for the quarter ended 31 December 2022, hitting US$469.1m.
Organic net sales, excluding Edgewell’s acquisition of shaving brand Billie and the negative impact from currency, were up by 3%.
The brand-owner’s sun and skin care division (which also includes names like Bulldog and Jack Black) enjoyed a net sales surge of $8.1m, or 7.7%, driven by a good start to the sun season in Oceania and Latin America.
This helped mitigate a net sales decrease for its wet shave business, encompassing Schick and Wilkinson Sword among others.
Here, net sales slid $10.8m, or 3.8%, as growth in Europe and Latin America was undermined by decreases in Japan and North America.
“International growth was a highlight, driven by volume and price gains, and reflective of a strong start to the sun season,” said Rod Little, Edgewell’s President and CEO.
“In North America, we successfully implemented further pricing across the portfolio and broadly held US share in the period.
“In addition to the benefits from higher pricing, our focus on productivity initiatives and good cost control reinforced gross and operating margins, while we maintained a high level of brand investment.”
