HELE - Helen of Troy tumble to 52-week low extending earnings day decline

Action for Helen of Troy ( NASDAQ: HELE ) stock did not get any prettier on Monday.

Shares of the Bermuda-based consumer products designer fell 8.45% in the latter half of Monday’s trading, bringing losses since its first quarter earnings release to near 20%. While the quarterly report actually exceeded analyst expectations, the company significantly reined in full-year guidance due to inventory issues at major retailers.

“Many of our major retail customers announced actions to rebalance their inventory, stemming from rapid revisions to their sales forecasts,” CEO Julien Minnenberg explained. “Our revised fiscal year outlook reflects our current assessment of the impact from these new headwinds on our business.”

He added that the rebalancing is expected to progress over the coming quarters, an expectation that is still impacting the stock even days after the announcement.

Shares fell to $139.61 on Monday, marking the lowest level for shares since 2020.

Read the earnings call transcript .

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