Bernice Lavin, Alberto-Culver co-founder, passes away at 81
MELROSE PARK, Ill. Alberto-Culver co-founder Bernice Lavin, who co-founded the company alongside her husband, died Monday after a long illness, the Associated Press reported. She was 81.
Lavin and her husband Leonard, a salesman, bought a West Coast beauty supply company in 1955, discontinuing most of its products to focus on the Alberto VO5 Conditioning Hairdressing line, the Assciated Press stated.
They then transferred the business to Chicago and renamed it Alberto-Culver. Today, the company is known for such hair care brands as TRESemme, Alberto VO5 and Nexxus hair products.
Lavin served as vice president, treasurer, a director and corporate secretary until she retired in 2003.
Her husband remains a director and chairman emeritus of the company.
Colgate-Palmolive releases strong Q3 results
NEW YORK Colgate-Palmolive announced on Tuesday that it experienced a strong third quarter as new U.S. product launches in the super-premium category contributed to growth in oral care.
Worldwide sales grew 12 percent to $3.5 billion and unit volume grew 5.5 percent. Excluding divestments, worldwide sales and unit volume grew 13 percent and 6.5 percent, respectively. The growth was supported by a 12 percent boost in worldwide ad spending.
Net income and diluted earnings per share were $420.1 million and 77 cents, respectively. Excluding restructuring charges and SFAS 88 charges, net income in the quarter rose 16 percent to $466.4 million and diluted earnings per share increased 18 percent to 86 cents.
In the United States, Colgate Total Advanced Clean toothpaste, supported by an integrated marketing campaign featuring Brooke Shields and a professional sampling program, helped drive market share for Colgate Total toothpaste to its highest quarterly share ever at 15.3 percent.
Colgate Max Fresh BURST toothpaste, infused with 50 percent more mini breath strips, continues to build incremental market share for the Max Fresh equity, now at 3.9 percent year to date.
Meanwhile, the company’s share of the manual toothbrush market is 25.6 year to date, up 2 share points versus a year ago, fueled by the continued success of Colgate 360 degree manual toothbrush and its latest variant Colgate 360 degree Sensitive.
New products planned for the fourth quarter include Softsoap brand SPA Radiant body wash and liquid hand soap, Irish Spring Moisture Blast and Irish Spring Reviving Mint body washes, Softsoap brand Pink Grapefruit liquid hand soap and Mennen Speed Stick 24/7 Momentum deodorant.
Alberto-Culver announces positive full-year results
MELROSE PARK, Ill. Alberto-Culver, whose brands include TRESemme, Alberto VO5, Nexxus and St. Ives, recorded a sales increase of 10.2 percent for the fiscal year, marking the first full year results since the company split its consumer products business and its Sally Beauty/BSG distribution business.
Net sales for the fiscal year rose 10.2 percent to $1.54 billion from $1.40 billion in the year-ago period.
Net earnings totaled $78.3 million, or 80 cents per diluted share, compared with $205.3 million, or $2.20 per share, in the year-ago period.
Diluted earnings per share from continuing operations were 83 cents after deducting 23 cents for restructuring and other expenses. Diluted earnings per share, excluding restructuring and other expenses, rose 24.7 percent to $1.06 versus 85 cents in the year-ago period.
In November 2006, the company closed on the separation of its consumer products business and its beauty supply distribution business. The split resulted in two separate publicly-traded companies: new Alberto-Culver, manufacturer and marketer of beauty and personal care products, and Sally Beauty Holdings, a distributor of professional beauty supplies.
In addition, Alberto-Culver’s board of directors approved the regular 5.5 cent quarterly cash dividend. The dividend will be paid Nov. 20 to shareholders of record on Nov. 5.