Olaplex Holdings saw sales fall across the board in its first quarter, but beat Wall Street forecasts. Nevertheless, its stock closed down greater than 7 percent at $3.70.
The hair care brand specializing in bond constructing’s net sales got here in at $113.8 million in the primary quarter ended March 31, down 38.9 percent year-over-year. Analysts polled had forecast $110 million.
Inside that, the skilled channel drew in $48.4 million, down 37.2 percent; specialty retail was $34.9 million, down 45.8 percent, and direct-to-consumer was $30.5 million, down 31.9 percent. Net sales decreased 60.3 percent within the U.S., while international sales were flat.
Adjusted diluted EPS was 5 cents, as in comparison with 13 cents for the primary quarter of 2022. This got here in...
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