International markets help boost Alberto Culver
Net sales during the period increased 2.9 percent to $363.0m, up from $352.8m in the corresponding period last year, while organic sales were flat due to the impact of a weakened US dollar against international currencies.
Net profits during the period increased by 16 percent to $36.6m, compared with $31.7m in the same period last year.
Good performance despite tough trading conditions
“While the hair care category remains soft, trends are slowly beginning to improve and we continue to gain market share,” said Alberto Culver CEO James Marino.
The company’s executive chairman, Carol Lavin Bernick said that the strategy to concentrate on its core brands had been a major contributing factor in the positive results.
The results reflected a mixed performance, with US sales falling by 2.5 percent, but the company underlined the fact that this was a difficult comparison to make to the previous year as sales in the corresponding quarter last year had risen by over 6 percent.
International sales save the day
Net profits during the period increased by 16 percent to $36.6m, compared with $31.7m in the same period last year.
On the other hand international sales grew by an impressive 12.3 percent - 6.5 percent of which was accounted for by foreign currency translations - driven mainly by double-digit growth in the St. Ives and Tresemmé brands.
During the past quarter Alberto Culver acquired the UK-based Simple brand, as part of its plans to increase its footprint in the global skin care segment. The acquisition was confirmed on December 18, 2009.
