Companies / Helen of Troy COMPANY FILINGS
Helen of Troy HELE In fiscal 2026, Helen of Troy operated a global consumer products business through its Home & Outdoor and Beauty & Wellness segments, with brands including OXO, Hydro Flask, Osprey and Olive & June.
Business description: FY2026 CIK 0000916789 Source: SEC EDGAR
Overview 10-K summary Balance sheet Original filings
Annual reports 9
Report coverage 2018–2026
Financial statement focus Balance sheet READ THE FILING
Annual report insights AI summary AI-generated summaries of the cited 10-K filings. For informational purposes only; not personalized investment advice.
Choose a fiscal year FY2026 FY2025 FY2024 FY2023 FY2022 Fiscal 2026 consolidated net sales fell 6.4% year over year to US$1,786.3 million. The company's organic business measure (excluding currency remeasurement effects and sales in the first twelve months after acquiring a brand or product line, while including internally developed brands and product lines) declined 12.2%, while the Olive & June acquisition contributed US$106.7 million to consolidated sales growth.
Source: 2026 Helen of Troy reported a fiscal 2026 net loss of US$899.0 million and recorded US$885.9 million in pre-tax asset impairment charges (accounting write-downs of asset values).
Source: 2026 View full 10-K summary 2026 Hide full 10-K summary 2026 Signals describe observations in the selected filing, not forecasts or investment ratings. Risk disclosures do not establish that a loss occurred.
Positive signals Operating cash-flow growth Operating activities generated US$171.1 million in fiscal 2026. Management attributed the year-over-year increase primarily to lower cash use for receivables (amounts owed by customers), annual incentive compensation, income taxes and restructuring, partly offset by lower cash earnings and higher interest payments.
Source: 2026 Negative signals Tariffs add product costs Fiscal 2026 cost of goods sold included US$50.7 million in additional pre-tax costs from tariff changes. Management also reported that shipment suspensions supporting retailers' adoption of tariff-related price increases hurt second-half sales, primarily in Beauty & Wellness.
Source: 2026 Talcum-case defense and liability estimate In the fourth quarter of fiscal 2026, Helen of Troy began defending talcum powder lawsuits after HRB Brands disputed its obligation to defend the company and cover liabilities from the cases. The company recorded an estimated liability of US$1.5 million for potential settlements at February 28, 2026. The ultimate outcome remained uncertain, and the company could not estimate potential liability above that recorded amount.
Source: 2026 Business context Loan conditions limit borrowing At February 28, 2026, the company had US$432.3 million available under its revolving credit line, but debt covenants (required commitments and restrictions in its debt agreements) limited additional borrowing from all sources to US$91.1 million. It reported compliance with all covenants in its credit agreement at that date.
Source: 2026 Business in fiscal 2026 In fiscal 2026, Helen of Troy operated a global consumer products business through its Home & Outdoor and Beauty & Wellness segments, with brands including OXO, Hydro Flask, Osprey and Olive & June.
Source: 2026
5-year changes FY2022–FY2026 Selected changes based on passages from the cited five fiscal-year filings, ending in this report year. This is not an exhaustive review of the filings. Later fiscal-year filings are excluded.
Lower sales The selected disclosures show consolidated net sales declining each year: US$2,223.4 million in FY2022, US$2,072.7 million in FY2023, US$2,005.1 million in FY2024, US$1,907.7 million in FY2025 and US$1,786.3 million in FY2026. These reported totals reflect a changing portfolio and acquisition inclusion periods. FY2022 included approximately nine weeks of Osprey results; FY2026 included a full year of Olive & June, compared with approximately eleven weeks in FY2025. The sequence therefore does not measure sales changes for an unchanged set of businesses.
Source: 2023 , 2024 , 2025 , 2026 , 2022 Operating loss Helen of Troy reported consolidated operating income of US$272.6 million in FY2022 and US$142.7 million in FY2025, followed by an operating loss of US$782.1 million in FY2026. The FY2026 result included US$885.9 million of pre-tax asset impairment charges (accounting write-downs of asset values), compared with US$51.5 million in FY2025. The FY2026 impairment reduced goodwill (the excess of an acquisition price over the fair value of acquired net assets) by US$706.5 million and other intangible assets (non-physical assets such as trademarks and licenses) by US$179.4 million. These are reported accounting charges, not amounts identified here as cash outflows.
Source: 2022 , 2025 , 2026 Segment combination and restructuring FY2022 disclosures described three business segments: Home & Outdoor, Health & Wellness, and Beauty. The company subsequently combined Health & Wellness and Beauty into one reportable segment in the fourth quarter of FY2023, changing the basis for segment comparisons. Project Pegasus, the company's global restructuring plan, was completed in the fourth quarter of FY2025, with total pre-tax restructuring charges of US$60.9 million. In FY2026, the company paid the remaining US$7.7 million related to Pegasus and separately incurred US$3.0 million of pre-tax restructuring charges for personnel reductions outside that project's scope.
Source: 2022 , 2025 , 2026 Request a correction Fiscal 2025 consolidated net sales revenue fell 4.9% to $1,907.7 million, while consolidated operating income fell 45.2% to $142.7 million compared with fiscal 2024.
Source: 2025 Helen of Troy acquired Olive & June on December 16, 2024, paying $229.4 million net of cash acquired. Approximately eleven weeks of results were included in fiscal 2025, contributing $23.0 million to consolidated net sales revenue growth.
Source: 2025 View full 10-K summary 2025 Hide full 10-K summary 2025 Signals describe observations in the selected filing, not forecasts or investment ratings. Risk disclosures do not establish that a loss occurred.
Positive signals No positive signals are highlighted in this summary. This does not mean the filing contains none.
Negative signals Drybar asset write-downs Fiscal 2025 included Drybar asset write-downs (impairment charges) of $12.8 million for its trade name and $38.7 million for goodwill, the excess of purchase price over the fair value of assets acquired less liabilities assumed. Management attributed Drybar's continuing sales decline to lower consumer demand, increased competition and net distribution declines, and reduced its forecasts for sales growth, gross margin (sales less cost of goods sold, as a share of sales) and operating earnings.
Source: 2025 Cash flow Operating cash flow fell to $113.2 million in fiscal 2025 from $306.1 million in fiscal 2024. Management primarily attributed the decline to higher payments for inventory, annual incentive compensation and income taxes, together with lower cash earnings; lower restructuring and interest payments partly offset these pressures.
Source: 2025 Business context Distribution Approximately 60% of consolidated gross sales volume shipped from the northern Mississippi and Gallaway, Tennessee distribution region in fiscal 2025. The company warned that this geographic concentration could make even a few days of disruption harmful to its business, operating results and financial condition.
Source: 2025 Business in fiscal 2025 In fiscal 2025, Helen of Troy operated Home & Outdoor and Beauty & Wellness businesses. All its products were manufactured by unaffiliated manufacturers, mostly located in China, Mexico, Vietnam and the U.S.
Source: 2025
5-year changes FY2021–FY2025 Selected changes based on passages from the cited five fiscal-year filings, ending in this report year. This is not an exhaustive review of the filings. Later fiscal-year filings are excluded.
Sales decline after an early peak The selected disclosures show consolidated net sales rising from $2,098.8 million in FY2021 to $2,223.4 million in FY2022, then falling to $2,072.7 million in FY2023, $2,005.1 million in FY2024 and $1,907.7 million in FY2025. Comparability is affected by portfolio changes: FY2023 disclosures identify sales contributions from the Osprey and Curlsmith acquisitions and a decline associated with the Personal Care sale. FY2025 included approximately eleven weeks of Olive & June results.
Source: 2023 , 2024 , 2025 Top-five share falls, then rises The five largest customers accounted for approximately 52% of consolidated net sales in FY2021, 49% in FY2022 and 43% in FY2023. Their share subsequently increased to approximately 47% in FY2024 and 49% in FY2025. These percentages describe the top-five customer group in each reporting period; they do not establish that its membership remained unchanged.
Source: 2022 , 2025 Pegasus completes and segments combine FY2021 included $0.4 million of pre-tax restructuring costs under Project Refuel. Pre-tax restructuring costs under Project Pegasus were $27.4 million in FY2023, $18.7 million in FY2024 and $14.8 million in FY2025; the company reported completing Pegasus in FY2025's fourth quarter, with cumulative pre-tax charges of $60.9 million. Segment presentation also changed: in FY2022, Housewares was renamed Home & Outdoor and Health & Home became Health & Wellness, without changing their product or brand scope, whereas Health & Wellness and Beauty were combined into one reportable segment in FY2023's fourth quarter. Separate historical segment figures therefore require alignment before comparison.
Source: 2021 , 2025 , 2022 Request a correction Fiscal 2024 consolidated net sales fell 3.3% to US$2,005.1 million. Beauty & Wellness sales declined 5.9% to US$1,088.7 million, while Home & Outdoor sales increased 0.1% to US$916.4 million.
Source: 2024 Fiscal 2024 consolidated operating income rose 23.0% to US$260.6 million. This included a US$34.2 million pre-tax gain from selling distribution and office facilities, US$18.7 million of charges for Project Pegasus (the company's global restructuring plan) and a US$4.2 million pre-tax charge related to Bed, Bath & Beyond's bankruptcy.
Source: 2024 View full 10-K summary 2024 Hide full 10-K summary 2024 Signals describe observations in the selected filing, not forecasts or investment ratings. Risk disclosures do not establish that a loss occurred.
Positive signals Operating cash-flow growth Operating cash flow increased to US$306.1 million in fiscal 2024 from US$208.2 million in fiscal 2023. Management attributed the increase primarily to higher cash earnings and lower payments for inventory, inbound freight, annual incentive compensation, income taxes and restructuring, partly offset by greater cash use for receivables (amounts owed by customers) and interest.
Source: 2024 Business context Lower estimated restructuring costs Management lowered its estimated total one-time pre-tax Project Pegasus restructuring charges to approximately US$50 million–US$55 million from US$60 million–US$65 million. It continued to target approximately US$75 million–US$85 million in annualized pre-tax operating profit improvements, now expected to be substantially achieved by the end of fiscal 2027. These were management estimates, not completed results.
Source: 2024 PUR ruling under appeal On September 19, 2023, the U.S. International Trade Commission (ITC) ruled in Helen of Troy's favor in the PUR water-filtration patent matter, finding no violation and terminating its investigation. Brita appealed to the Federal Circuit; at the filing date, no appeal hearings had been scheduled and the separate patent litigation remained paused.
Source: 2024 Business in fiscal 2024 In fiscal 2024, Helen of Troy sold consumer products through its Home & Outdoor and Beauty & Wellness segments. Its product range included kitchen and food-storage products, beverageware, backpacks, hair styling products, humidifiers and water purifiers.
Source: 2024
5-year changes FY2020–FY2024 Selected changes based on passages from the cited five fiscal-year filings, ending in this report year. This is not an exhaustive review of the filings. Later fiscal-year filings are excluded.
Personal Care businesses sold in stages Helen of Troy committed to selling certain mass-market Personal Care assets in FY2020. In FY2021, it recorded an $8.5 million noncash write-down of Personal Care goodwill (acquisition price above the fair value of identifiable net assets). The North American business was sold on June 7, 2021. The Latin American and Caribbean businesses were sold on March 25, 2022, which the FY2022 filing identified as occurring after that fiscal year ended.
Source: 2020 , 2021 , 2022 Sales reversal The selected disclosures show consolidated net sales rising from $1,707.4 million in FY2020 to $2,098.8 million in FY2021 and $2,223.4 million in FY2022, then declining to $2,072.7 million in FY2023 and $2,005.1 million in FY2024. These reported totals span a changing portfolio: Osprey and Curlsmith contributed acquisition sales in FY2023, while Personal Care disposals reduced sales. They therefore do not represent a comparison of growth from an unchanged set of businesses.
Source: 2020 , 2023 , 2024 Asian sourcing share falls after peak Asian vendors accounted for approximately 76% of finished products purchased in FY2020, 80% in FY2021 and 88% in FY2022, according to the FY2022 disclosure. The FY2024 disclosure reported shares of 87% for FY2023 and 79% for FY2024. The share thus declined after FY2022 while remaining above its FY2020 level.
Source: 2022 , 2024 Request a correction Fiscal 2023 consolidated net sales fell 6.8% to US$2,072.7 million, while net income fell 36.0% to US$143.3 million compared with fiscal 2022.
Source: 2023 Helen of Troy acquired Curlsmith on April 22, 2022, adding prestige hair care products to Beauty & Wellness. The cash purchase price was US$147.9 million, after the final purchase-price adjustment and deducting cash acquired with the business.
Source: 2023 View full 10-K summary 2023 Hide full 10-K summary 2023 Signals describe observations in the selected filing, not forecasts or investment ratings. Risk disclosures do not establish that a loss occurred.
Negative signals Packaging compliance costs Fiscal 2023 operating income included US$23.6 million of pre-tax costs to comply with U.S. Environmental Protection Agency (EPA) requirements. The company completed repackaging of affected inventory and additional humidifier and air filtration products during the year. The matter concerned packaging claims; the filing states that the EPA raised no product quality, safety or performance issues.
Source: 2023 Review sought for preliminary PUR ruling In Brita's patent dispute concerning certain PUR gravity-fed water filters, the U.S. International Trade Commission (ITC) issued a preliminary determination against Kaz USA and other companies named in the case on February 28, 2023. The respondents petitioned for review, and no final decision was reported in this filing. Separately, the company warned that an adverse outcome could materially affect its financial position and results; it could not estimate a potential loss.
Source: 2023 Business context Segment combination and restructuring Under its global restructuring plan, Project Pegasus, Helen of Troy combined its Health & Wellness and Beauty operating segments into Beauty & Wellness in the fourth quarter of fiscal 2023. It incurred US$27.4 million of pre-tax restructuring costs during the year, primarily for professional fees, severance and employee-related costs.
Source: 2023 Business in fiscal 2023 For fiscal 2023, ended February 28, 2023, Helen of Troy was a global consumer products company reporting through Home & Outdoor and Beauty & Wellness. Its products included cooking and organization tools, backpacks and travel gear, beauty appliances, hair care products, and wellness devices.
Source: 2023
5-year changes FY2019–FY2023 Selected changes based on passages from the cited five fiscal-year filings, ending in this report year. This is not an exhaustive review of the filings. Later fiscal-year filings are excluded.
Acquisition sales outweigh Organic business decline Housewares reported FY2019 net sales of US$523.8 million. It was renamed Home & Outdoor in FY2022, with no change in products or brands from the renaming itself; Osprey was separately added through acquisition. FY2023 segment net sales reached US$915.7 million. Management attributed that year's increase primarily to Osprey's US$152.7 million acquisition contribution, partly offset by a US$93.6 million decline in Organic business (excluding sales during the first year after a product line or brand is acquired and excluding foreign-currency effects on reported sales, while including internally developed lines and brands). The endpoint figures therefore include a portfolio change and do not measure growth from an unchanged set of businesses.
Source: 2019 , 2022 , 2023 Personal Care businesses sold in stages In FY2020's fourth quarter, Helen of Troy committed to sell selected mass-market Personal Care assets and classified the disposal group as held for sale. In FY2021's fourth quarter, it recorded a US$8.5 million noncash write-down of Personal Care goodwill (acquisition price above the fair value of identifiable net assets). The FY2022 filing subsequently reported completion of the North America Personal Care sale on June 7, 2021, and the Latin America and Caribbean sales on March 25, 2022. The latter occurred after FY2022 ended, placing that completion in FY2023.
Source: 2020 , 2021 , 2022 Top-five share declines overall The top five customers represented approximately 51% of consolidated net sales in FY2019, 50% in FY2020, 52% in FY2021, 49% in FY2022 and 43% in FY2023. Their share was lower at the window's endpoint, but did not decline every year. The FY2023 filing continued to warn that a substantial sales decline at a major customer could materially affect financial condition and operating results.
Source: 2019 , 2022 , 2023 Request a correction Fiscal 2022 consolidated net sales rose 5.9% to US$2,223.4 million, while net income fell 11.9% to US$223.8 million compared with fiscal 2021.
Source: 2022 Helen of Troy acquired Osprey on December 29, 2021, for US$410.9 million in cash, after a preliminary closing purchase-price adjustment and deducting cash acquired with the business. Approximately nine weeks of Osprey sales contributed US$24.4 million to fiscal 2022 Home & Outdoor net sales.
Source: 2022 View full 10-K summary 2022 Hide full 10-K summary 2022 Signals describe observations in the selected filing, not forecasts or investment ratings. Risk disclosures do not establish that a loss occurred.
Positive signals Beauty sales and earnings growth Beauty net sales increased 20.6% to US$580.4 million in fiscal 2022. Segment operating income reached US$98.4 million, compared with US$64.9 million in fiscal 2021, when results included US$8.5 million of pre-tax asset impairment charges (accounting write-downs of asset values).
Source: 2022 Negative signals Packaging compliance disrupts shipments Packaging-claim discussions with the U.S. Environmental Protection Agency (EPA) led Helen of Troy to temporarily halt U.S. shipments of affected filtration and humidifier products during fiscal 2022. The company recorded US$32.4 million of pre-tax EPA compliance costs. It reported no EPA concerns about product quality, safety or performance; shipping resumed during the year, but repackaging remained underway.
Source: 2022 Operating cash-flow decline Operating cash flow fell to US$140.8 million in fiscal 2022 from US$314.1 million in fiscal 2021. Management attributed the decline primarily to lower cash earnings and greater cash use for inventory purchases, customer incentives, annual incentive compensation and receivables (amounts owed by customers), partly offset by increased income taxes owed but not yet paid.
Source: 2022 Unresolved PUR patent claims Brita alleged patent infringement involving PUR gravity-fed water filtration systems. The U.S. International Trade Commission (ITC) opened an investigation on January 25, 2022, and the related patent litigation was paused pending its resolution. Helen of Troy said it could not predict the outcome or the amount or range of any potential loss.
Source: 2022 Business context Personal Care business sale On June 7, 2021, Helen of Troy sold its North America Personal Care business to HRB Brands for US$44.7 million in cash. The Latin America and Caribbean Personal Care net assets remained classified as held for sale (awaiting sale) at the fiscal 2022 year end.
Source: 2022 Business in fiscal 2022 In fiscal 2022, Helen of Troy was a global consumer products company operating through Home & Outdoor, Health & Wellness, and Beauty, with a portfolio of owned and licensed brands.
Source: 2022
5-year changes FY2018–FY2022 Selected changes based on passages from the cited five fiscal-year filings, ending in this report year. This is not an exhaustive review of the filings. Later fiscal-year filings are excluded.
Top-five share fluctuates within the window The selected disclosures put the top five customers' share of consolidated net sales at approximately 45% in FY2018 and 51% in FY2019. The FY2022 filing reports 50% for FY2020, 52% for FY2021 and 49% for FY2022. These reported shares fluctuated over the window. Comparability has a qualification: the FY2019 filing reclassified an immaterial amount of certain customer payments from selling, general and administrative expense to deductions from net sales for all periods presented.
Source: 2018 , 2019 , 2022 Personal Care businesses sold in stages In the fourth quarter of FY2020, management committed to selling certain mass-market Personal Care assets and expected the divestiture during FY2021. The FY2022 filing records completion of the North America Personal Care sale on June 7, 2021, during FY2022. The Latin America and Caribbean businesses remained classified as held for sale at FY2022 year-end; their sale closed on March 25, 2022, after that fiscal year ended.
Source: 2020 , 2022 Health operating income falls after rise Health & Home reported operating income of US$94.1 million in FY2021, up from US$68.2 million in FY2020. In FY2022, the segment was renamed Health & Wellness; the name change itself did not alter its products or brands. FY2022 operating income fell to US$39.2 million. Management identified US$32.4 million in U.S. Environmental Protection Agency (EPA) compliance costs, unfavorable operating leverage (operating costs taking a larger share of sales), and the net effect of inflationary costs and customer price increases among the reasons for the segment's operating-margin decline.
Source: 2021 , 2022 Request a correction FINANCIAL STATEMENTS
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