HELE - Why Helen of Troy Stock Was Up This Afternoon
Shares of Helen of Troy (NASDAQ: HELE) were trading sharply lower at the market open on Wednesday after the company reported mixed results for the fiscal second quarter. After the market had time to digest the earnings report, the stock was up 2% as of 12:24 p.m. ET.
Rising inflation and interest rates have weighed on sales and earnings this year, with the stock down 57% year to date.
Net sales were decent, rising 9.7% year over year, but management noted changing consumer buying patterns in response to the economic headwinds. As a result of higher costs and slowing sales, non-GAAP earnings per share fell 14% over the year-ago quarter.
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Why Helen of Troy Stock Was Up This Afternoon