NEW YORK, NY / ACCESSWIRE / August 28, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Helen of Troy Ltd. ("Helen of Troy" or the "Company") (NASDAQ:HELE). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Helen of Troy and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On July 9, 2024, Helen of Troy reported its financial and operating results for the first quarter of its 2025 fiscal year. Among other items, Helen of Troy reported that organic net sales for Q1 2025 declined by 12.2% year-over-year, while its GAAP consolidated operating margin for the same period dropped to 7.4%, down from the previous year. Helen of Troy's officers attributed the Company's weak performance primarily to issues in the Home & Outdoor business segment, stating that "shipping disruptions at the Company's Tennessee distribution facility due to automation startup issues" negatively impacted "some of the segment's small retail customer and direct-to-consumer orders." Helen of Troy also lowered its 2025 net sales forecast, citing ongoing challenges at the Tennessee facility as a contributing factor.
On this news, Helen of Troy's stock price fell $24.68 per share, or 27.73%, to close at $64.33 per share on July 9, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE: Pomerantz LLP