Prestige Brand Holdings
This article was originally published in The Rose Sheet
Executive Summary
Cutex marketer anticipates fourth-quarter sales to be lower than the prior-year period, though full-year sales are expected to be slightly higher than those in fiscal year 2005. "Despite the fourth-quarter sales performance, full-year net revenue growth should be in the mid-single-digit range, with organic growth up approximately one percent," chair and CEO Mark Pettie said April 9. Prestige Brands attributes the decrease in Q4 revenue to continued declining sales in personal care, as well as a decrease in the firm's key cough/cold category. However, "based upon our increased focus on driving distribution, innovation and optimized marketing across key segments of our portfolio," the firm expects long-term organic revenue to grow 3% to 4%. The company plans to release its Q4 and full-year 2006 results on May 9...
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