Hain Celestial to cut 30% of North America SKUs under turnaround

Core Viewpoint - Hain Celestial is implementing a turnaround strategy by cutting approximately 30% of its SKUs in North America to stabilize the business and improve profitability [1][3][4]. Group 1: Strategic Changes - The company aims to exit unprofitable or low-margin SKUs while focusing on brands and categories with higher growth and margin potential [2]. - A disciplined portfolio management review process has been established to continuously assess and optimize the SKU portfolio, reducing reliance on large episodic rationalization efforts [3]. Group 2: Financial Performance - Hain Celestial reported a net loss of $21 million for the first quarter ending September 30, compared to a $20 million loss in the same period last year [6]. - The company experienced an annual loss of $531 million in September, primarily due to a pre-tax non-cash impairment charge of $496 million [5]. Group 3: Leadership and Management - The interim president and CEO Alison Lewis has outlined clear near-term priorities, including stabilizing sales, improving profitability, optimizing cash, and deleveraging the balance sheet [4]. - The previous CEO, Wendy Davidson, departed in May 2023 after initiating the removal of lower-margin SKUs but faced challenges in improving sales and profits [4].