Fairy Tales Hair Care reports rise in revenue in 2008
PASSAIC, N.J. Fairy Tales Hair Care, the creator of organic lice prevention products for children, doubled revenues in 2008 and has begun its global expansion.
“Despite the economy, we expect to achieve significant growth in an area of children’s health products that is all but ignored by major consumer products companies,” said Fairy Tales CEO Robert DiLorenzo.
The company’s organic Rosemary Repel products include a complete line of shampoos and conditioners, gels and sprays that can be used daily. The products are all-natural and layers hair with herbs of rosemary, citronella and tea tree herbs to create a barrier of protection against head lice, according to the company. The products are infused with aloe, jojoba and vitamins A, D, B and E.
Its Lice Good-Bye product is an all-natural lice removal system with yeast enzymes. The non-toxic and pesticide-free system promises to remove lice and nits from children’s hair without foul-smelling and harmful chemicals.
Fairy Tales products are sold in 7,000 salons and pharmacies throughout the United States.
Ulta lowers guidance, despite comps rebound
ROMEOVILLE, Ill. Ulta experienced a drop in customer traffic in the days leading up to Christmas and, despite a rebound to positive comps since the holiday, the beauty retailer has lowered its guidance.
“We were on track during the early weeks of the fourth quarter to deliver our guidance; however, we experienced a significant drop in customer traffic in the 10 key days leading up to Christmas,” stated Lyn Kirby, president and CEO. “We believe that the unprecedented level of discounting and promotion in the apparel category in the last days before Christmas resulted in consumers favoring apparel. Additionally, our customer traffic was negatively impacted by the unusually bad weather just prior to Christmas.”
Kirby noted that the company will continue to work to bolster market share by investing in its stores, brand, marketing and talent. The company, which operates 304 stores across 35 states, has “the financial flexibility to invest in market share strategies and square footage expansion,” Kirby stated.
For the fourth, the company now estimates sales to be between $339 million and $343 million. Previously, the company expected sales to be between $354 million and $368 million. Same-store sales are expected to be between minus 6% and minus 5%, compared with its previous guidance of minus 2% and plus 2%. Income per diluted share is expected to range between 18 cents and 19 cents compared with its previous guidance of between 24 cents and 28 cents.
For the full year, the company now expects net sales to range between $1.082 billion and $1.086 billion compared with its previous guidance of between $1.1 billion and $1.11 billion. Same-store sales are expected to be flat to plus 0.4%. Income per diluted share is currently estimated to be between 41 cents and 42 cents. Previously, the company expected income per diluted share to be between 47 cents and 51 cents. The full year guidance excludes the 1 cent per share severance expense.
Coty announces new CFO
NEW YORK Coty Inc. has confirmed that Michael Fishoff, Coty’s CFO, left the company at the end of December.
He will be replaced by Sergio Pedreiro, who most recently was CFO of the Brazil-based logistics company America Latina Logistica, known as ALL.
Pedreiro is scheduled to begin his new role at Coty on Feb. 1.