Skincare group BWX narrowly misses strike against pay report
Summary
New CEO David Fenlon wants to take on global synthetic brands in Australia and said consumers were willing to pay more for natural and cruelty-free products. Gross margins have stabilised at 52.7 per cent, and he expected this to continue this year, seeing opportunities for growth including new categories such as natural tanning, gifting and travel. Sukin will be rolled out across Target stores in the US from January and Andalou will be launched with new pharmacy customers in the fourth quarter in Australia. Mr Fenlon said he was inching towards regaining investors confidence after the changes on the remuneration report and reaffirmed full-year guidance for double-digit sales and earnings growth this year. The $575 million company has had an awful 18 months, marred by earnings downgrades, a failed management buyout that triggered the exit of the co-founders and a US lawsuit.