Helen of Troy Limited (NASDAQ:HELE) Q2 2024 Earnings Call Transcript

So we have started to pick up some of those things. We have talked about increasing some of our shelf space in beauty at mass retailers. We’ve talked about dollar distribution, Family Dollar distribution on PUR. I mentioned that today. So we are getting some of those wins. And I think as we look at the back half of this year and in particular, quarter four, we’ll continue to see some of those things layer in, which is part of what gives us confidence in what we’re looking at in quarter four. Some of the results of that move. Challenges wise, I don’t know probably the biggest thing is just as always, when you’re moving organization and people are reporting to different leaders, et cetera, just the settling in period. But I’ve actually been really delighted at how the teams come together.

They were just — that leadership team was put together a week or so ago. We had a big national sales meeting a couple of months ago. So the energy and the enthusiasm of that team as a single organization has been really fantastic.

Julien Mininberg: Yes. By design, it’s continuity even though the restructures and all the ways just said, that the people and the leadership externally focusing to the teams is largely the same and on purpose by design. So not only the way people adapted, as Noel says, but what the market sees when we sell at the power of the scale and all the other method. There’s a further side benefit to it that the business units are even more focused on the consumer. So that obsession becomes even more innovation and more focused as opposed to handling the sales market facing — shopper facing part.

Bob Labick: Okay. Super. And last one, I’ll probably will jump back in queue. And just — I mean, you just mentioned innovation there. Can you give us a sense of new product introductions going forward versus how they’ve compared in the past? Because obviously, we’re kind of, as you said, poised to resume growth very shortly, and I think that’s probably a big part of it. But where do you stand on the innovation pipeline and expectations for new product introductions going forward versus how they’ve looked?

Noel Geoffroy: Yes. Certainly, we continue to feel innovation is very important in all of our segments, both in new product innovation as well as what I call commercial innovation, new claims, new ways to position our brands and our products in the marketplace or new ways of reaching the consumer from a marketing standpoint. So I continue to see a lot of emphasis on that. In fact, as Julian just mentioned, that was one of the reasons we went with the organization structure we did. We’ve got business units now fully focused on consumers, brands, innovation so that we can take that to the next level, and that is underway. We’ve got some great innovation in the market now. OXO has always had some terrific innovation the Grilling Prep and Carry, the fridge organizers that have come out this year, continued coffee.

Innovation has been strong. Osprey continues to go into adjacent categories like travel. We’ve also put out in the market. It’s not quite out for sale yet, but announced launches in the bike for Osprey, which is a really interesting new vesture for that brand. Hydro Flask, of course, we launched the soft launch for the travel tumbler in the last quarter. We’ve now ramped up distribution there and just launched a new Hydro Flask sport bottle, that’s a unique shape. And then across the Beauty wellness portfolio, many new formulas on Drybar and Curlsmith in particular, addressing a lot of consumer needs. So we continue to have really a lot of innovation across the portfolio, and I continue to anticipate more of that on both the product and the commercial side going forward.

And we’ll talk more about that in our Investor Day on the 17th as well.

Bob Labick: Super. Thank you so much.

Noel Geoffroy: Yes. Thanks. Bob.

Operator: Our next question is from Rupesh Parikh with Oppenheimer. Please proceed.