HELEN OF TROY LTD (HELE): restructuring charge — Helen of Troy cuts Project Pegasus restructuring estimate to $60-65M; extends to FY2025

HELEN OF TROY LTD

Original estimate of $85-95M now lowered to $60-65M; completion pushed from FY2024 to FY2025.
Charges: severance $22-25M, professional fees $30M, contract termination $5M, other $3-5M.
Segment breakdown: Home & Outdoor $17-19M, Beauty & Wellness $43-46M, mostly cash expenditures.
Annualized pre-tax savings target remains $75-85M, ~60% COGS, ~40% SG&A, substantially achieved by FY2026.
Savings cadence: 25% in FY2024, 50% in FY2025, 25% in FY2026.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

HELEN OF TROY LTD announced a restructuring with charges of approximately $60 million to $65 million affecting all operating segments and shared services.

Type: restructuring
Charge: approximately $60 million to $65 million
Affected area: all operating segments and shared services

Exact text from the filing

The Company now estimates lower total one-time pre-tax restructuring charges of approximately $60 million to $65 million over the duration of the plan.

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HELEN OF TROY LTD filing history →

Source: SEC EDGAR

accession 0000916789-23-000046

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