Energizer hit by competition, drop in sun care products sales
July 31 (Reuters) - Energizer Holdings Inc, maker of Energizer batteries and Schick razors, posted higher third-quarter earnings but lower sales on Wednesday, saying competitors' promotions and a wet summer had hurt sales of personal products like suntan lotion.
The St. Louis, Missouri, based maker of Hawaiian Tropic said net income for its third quarter ended June 30 was $87.2 million, or $1.38 per share, on sales of $1.11 billion, up from a profit of $70.2 million, or $1.06 per share, on sales of $1.12 billion year earlier.
Excluding items related to its restructuring, it earned $1.57 per share.
Despite the sluggish business, and its forecast of lower household products always this quarter, Energizer said it still expects fiscal year adjusted earnings of $6.75 per share to $7.00 per share, helped by additional savings from its restructuring.