that Rod, challenging you, around personal global times. world teams commitment most hope you’re the ensuring and fully navigate and business morning, we to Thank my our in dedication, safe of I gratitude healthy crisis during the like their resiliency for good operational everyone. remains to our this add and together. as all I’d And
liquidity I’ll start on of for a few steps second then my half remarks this with year. minutes we’ve given of the reviewing by some ensure business before ample our the concluding environment the taken the uncertainty, results, thoughts I’ll discuss spending quarterly to
performance, challenging. deliver to categories most quarter played year and top said, expected stable was own solid we as would our bottom that of XXXX. terms Through in expectation we performance the positioned our line profit of internal for Rod evidence with our fiscal we overall, path improving had across full February, out forecast for there top guidance another organically both and As the outpace largely revenue result, line geographies. At we quarter, anticipated were and although well and the time, to on second quarterly reaffirming that fluid
our month the month, the building we the quarter, and further line underlying the saw stabilization four COVID-XX began top last across Wet in and business fem consumer retailer demonstrated in mostly while America, quarter, see related consecutive disruption our care pantry benefits businesses. In our the we of quarters. later markets, loading, to muting international the of in now build of that we’ve seen stock for In results the demand; North Ones
and Care trends COVID-XX organic operating the nearly was million and demand COVID-XX, previous our basis increased increased Adjusting sales impact Care excluding Pet with the Pet XX and million, recent margin, Infant surge Infant $X.X and our related to to the Gross about income underlying divestiture consistent excluding headwinds the supply the for outlook. performance related Adjusted flat, divestiture. from increased points. chain $X currency,
disciplined driven efforts savings. remain in a million we $XX We gross from by savings realized in period through and cash the largely $XX was the working over And cost across our operations capital all increase ago, performance. improved of in half one over areas Project And the quarter, to business. drive year efficiency million same than higher nearly Fuel
to to in So uncertainties, traction. clear agile the our our more path near-term, of contains become business while to operator a continue fundamentals underlying gain strengthen the and stronger, forward efforts continue especially the
turn the detailed the results. X.X%. I’ll Organic sales net quarter in Now to increased
On COVID-XX, and Wet Ones, just men’s Organic net grew Wet sales while organic due America essentially mentioned, declined COVID-XX that Sun Excluding estimate in as increased sales fem America sales flat. we Shave excluding basis, by grooming. driven estimated X%. sales underlying to performance increases were flat. modestly, North Care over North X%, in in care were tailwinds, an strong
Europe quarter, net COVID-XX-related markets, largely Asian X% International basis. our the X% basis. total but platform the Latin in markets an headwinds X% reaching American and in rate declined quarter, on Amazon with in delivered sales broader reported organic a driven was both up across underlying on E-commerce on sales grew sales increased XX% XX%. about of run net the quarter of sales by growth and the
pantry-load obviously also and from efforts responses. As focus in channel, this build as COVID-XX we the to capabilities continue consumers’ our benefited we to part of
Looking in X.X% men’s disposables. in Wet and Shave declined volume Partly driven offset by by systems declines quarter, sales at organic segment. performance volume the net growth and disposables. systems in women’s in unfavorable price/mix by
Skintimate in slight For by partly internationally, Private sales, America. in Wet as women’s with stock driven was impactful up our well Shave, organic COVID-XX although more overall growth in offset was declines a North by offering consumer Volume Asia, new disposables negative Label. to as
grew In fact, Private quarter. aggregate in digits Label the high in single
quarter, Wet distribution decreased largely losses at North Shave the promotional in Club with pressure, a and losses American face result overall perspective, Shave a flat and X.X% an a X.X%, Europe trend an Sam’s remained continued level geographic From basis. was on growing Wet declined competitive on continued just share year-over-year. of recent to Shave declined performance of over stabilized its underlying although and basis. underlying resilient Wet X% International
the in Our held Label of our market-leading and and Private performed businesses broadly over market and quarter. share gained business share, well Disposables point shave X preps
Wet rate Sun up X%, $XX increased XX% which year or and over run almost Skin up million basis. and demand Care period, the driven on over Ones, strong organic for by sales a prior XX% was
SKUs channels, the now wipes hand the triple-digit gains experienced and category points Ones share accounts Wet sanitizing XX across for in consumption, of the category. top all in drove growth terms seven consumer of In
strong augmented drug focus efforts our and Here, displays were distribution to COVID-XX. on drive with the channel and expanded commercial secondary associated the further by tailwinds
was lower and both increased and Banana of organic Jack XX% Boat with Sun were favorable net flat our underlying solid the up as grooming Men’s terms offset in Tropic growth an Hawaiian X% pricing or consumption, essentially Bulldog quarter. share held by in both in And Care basis brands Black. volumes. sales on
stock-up largely to by XX%, organic COVID-XX. related sales driven Care increased Feminine nearly
increases, our slightly sales Excluding in quarter, expectations. which was X% down those than were better about the
while up consumption, in of was terms Amazon. measured fem on In point XX% channels, of care gaining share held share a and
from year-over-year by In partly impact unfavorable mix. gross XX benefited increased pricing the points margin Sun XX excluding underlying the Care slightly margin of which currency continued Pet stronger and our Infant XX.X%, divestiture, basis and associated to increased Fuel onetime Gross with expectations. offset in than COVID-XX, the margins and savings, basis product points, costs stronger quarter, Project gross was
compared X% to year of sales quarter sales of the net in was expense X.X% prior as period. this A&P net
from increased year to the and Pet impact about Infant prior X% period. spending the the A&P Care Excluding divestiture, compared
spending began spend as we below to However, was in well the forecast in of March to month meaningfully internal reaction shift our COVID-XX.
$XXX.X net as sales SG&A, XX% net including amortization was period. million of sales prior the expense, in year or compared XX.X% to of
as the transaction-related Excluding other expense. debt expense savings, Project related costs non-recurring and equity net Fuel bad and charges, basis offset higher restructuring a compensation SG&A of XX lower charges, by Harry’s by driven decreased and were sales which points, percent of mostly impact
devaluation $XX.X million Other COVID-XX-related exposures. the was expense resulting as of key in in The of largely the Latin local to balance saw in increase $X.X against America, of Asia during of we Central Europe income the prior expense net revaluation compared in sheet was several a expense dollar, period. year quarter in local countries a and million U.S. currencies significant
the devaluations Czech Colombian from Some peso, dollar, the and peso of the key exposures Chilean Mexican peso. were driving koruna, dollar Australian loss against
second operating quarter adjusted $X.XX the the in to year inventory and grew of in increased activities organic in million compared $XX compared management, Net was was were were a million capital COVID-XX. $X.XX quarter year-over-year. XX% demand prior net and cash diluted particularly cash GAAP working performance use prior currency by $XX Constant year, as of in the the per improved share from EPS XXXX $X.XX to the period. aided earnings earnings share per during compared reflecting associated $X.XX to of with partly fiscal
is The reflecting cash company’s liquidity. the brings profile, net debt which free X.X about flow of me strong leverage to the business’ topic times, ratio
operating As extremely know, cash is free by business flow model you efficient and strong generation defined flow conversion. our cash
our remains of of very number enhance steps. a such, light the our this accelerated focus of and in on front realized our efficiency in business productivity, As our fiscal and driving about $XX quarter, position gross the that remaining the important we’ve costs proxy the ensure of is in uncertainty efforts likely further reshaping quarters business strong. taken us, million out Project case, savings and this is liquidity of good To for we We’ve to a that’s XXXX. Fuel agility. organization’s the In
refined to partners, and being in likely pausing our our impact the investment expected is investments conditions continue spend the we balance positions be further brands assess of with spend to our in is focus impact. invest a reprioritized A&P aspects pullback our and can and continuing Additionally, on with execution where or being and high. to based business business of approach trade This addressing also to includes deferred. business of market areas being near-term, eliminated while greatest be all anticipated discretionary reasonably to effectiveness, open non-critical appropriate where spend overall the on across find
focused and to business spend an will productivity activation well advertising sales. of a investments more efficiency. of spend our levels effort net balance spend about historical anticipate those we continue for drive of CapEx And more We’ve to X% as brand greater prioritizing evaluated CapEx are the the that traditional also in result, critical. be year, to shift below We digitally and from only also brand
capital annual maintenance typically a our As is about reminder, spend. CapEx X/X expense of
in banks liquidity And quarter, additional business. finally, refinanced million we $XXX our as the we securing leveraging disclosed strong for relationship successfully earlier the revolver, and
steps on forward. challenges and near-term the are we stronger very potential take while revolver over million appropriate hand, a with we With cash also the ensuring $XXX to the becoming COVID-XX, well place in of positioned associated that moving in competitor now weather
more proactively $XXX have position we And and market, as about of our and XXXX emergence million ability should May and productive do structured feel due $XXX coming in XXXX. position so. further debt in these address We decide the in May to a debt strong reinforce liquidity given our to notes well good million our I as liquidity
And provide to to near perspective business. brief for finally, some I the medium-term wanted the on outlook
bottom balanced date, overall We our consider operational. and will Rod continuity with to we continue focused contingency both with and facilities perspective also execution all as and stated distribution risk business development and operate top on line earlier, been the essentially a manufacturing have as are To we of on And ensuring opportunity. fully of robust plans. both centers
like of led terms the uncertainty impact the continued chain I’d potential However, each This of likely our increased of to has magnitude commodity spans as And as touch pandemic the lack in the these forward-looking and demand, suspend visibility and briefly. the on volatility us uncertainty supply markets. of and on duration guidance. well global in the to currency consumer our
we date, this particularly growing of retailer season. execution assess the have channels prioritization, in category To and indications our headwinds is event travel Care consumer the prolonged and in strong of business, across we any seen or the holiday anticipate demand in North summer which focus changes we impact very a initial environment, in encouraging. in no COVID-XX Sun American As
were both we discussed pleased positioned in As partners, key shelf with after initial quarter, terms increase successfully with and executing remain portion is but we the of last highly presence availability, we the uncertain. Sun core sets a our brands, Care on of shelf the season final and price retail well
which challenging environments. know work-from-home businesses that we And economic belief our as in across us assets also well we that positioned brands this price key private see some men’s and lead for environment potentially and historically while us to this In have changes quality in Wet regimen, Shave, shave tiers, been Disposables short-term could have there value is short-term.
to care growth these on seen very well and and described both challenging the across And hygiene. fem Care Sun offsets we’re personal health consumers’ the earlier. environment, are offer capitalize our both I we’ve positioned Ones businesses, likely the some also potentially focus Wet to categories We ongoing by and on encouraged of
the we’ve to Wet manufacturing on mid-summer. Ones, specifically in increase steps More appropriate which come taken capacity, will meaningfully online
enhancing e-commerce believe moving capabilities likely us also increased our will for and they serve consumers and on the focus preference forward. dependable established brands well our We trust
We’re environment is our the priority, number safety members reflected and as we’ve health navigating this with of and the team actions one in this our taken company-wide.
As a result, other expect see by across further offset is partially Project we work the supply some only our chain, Fuel which tailwinds. to pressure, cost and
of evolving supply disruption the the Given and also that have mix potential discussed dynamics I earlier shifting further nature margin the implications. is revenue there the may pandemic, for chain
All the in factors create environment. gross headwinds near-term of likely some margin these
this as costs, we’ll extreme mid-term in us it’s to able headwinds prices, anticipate result to to we fully in exchange fiscal we commodity $X.XX commodity some through cost takes the per do with costs the as while volatility, for of oil FX seen about the P&L. year And in run In such foreign environment to share. benefit decline this FX quarter, unlikely we’ve expect by commodity months Finally, further largely four six lower it and movement continue. and be offset moved against a approximately
brand to to of and financial the investments initiatives and activation considerations appropriate supporting support. the appropriate as making increased a with strategic for flexibility stronger liquidity from steps the online uncertainty, viable deliver confident balance we of our near-term this mix environment competitor. all growth we taking to as support of time investment right ensure we are challenging right long-term, we’re decisions our priorities, both reduce more costs strategic for I’m while the and prioritization level the with this emerge to and optimal During
I’d for to the before comments with And like final to call that, we turn over back begin the Q&A. Rod
