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Helen of Troy to no longer divest its personal care business

Tomi Kilgore

Helen of Troy Corp. said Tuesday it was no longer pursuing a process to divest its personal care business, and has decided to continue to operate the business to help fuel investment in its leadership brands. "Given our strong cash flow and low debt leverage, discontinuing this process has no impact on our ability to make further acquisition or strategic share repurchases," the company said in a statement. Helen of Troy, which brands include Vicks, Braun and OXO, had previously announced the process on March 11. Separately, the company said it expects fiscal 2020 sales growth of 1.0% to 3.0%, while the FactSet consensus of $1.59 billion implies 1.9% growth. The stock, which was still inactive in premarket trade, has gained 5.0% year to date, while the S&P 500 has advanced 13%.