Hain Celestial Sees Net Sales Down 5% In First Quarter
Hain Celestial, the parent company of the Linda McCartney, Sun-Pat and Cully & Sully brands, among others, has posted a 5% decrease in net sales at constant currency levels, to $482.1 million (€437.1 million) in the first quarter of its financial year, to September 30.
The group, which is in the midst of a streamlining process that recent saw it sell the Tilda rice brand to Ebro Foods, said that if adjusted for acquisitions, divestures and SKU rationalisation, it posted a 1% decrease in net sales compared to the same period last year.
Hain Celestial posted a net loss of $5 million fr the period, compared to a net loss of $23.1 million in the same period the previous year. Gross margin was 20.3%, a 320 basis point increase on the previous year period.
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