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Hain Celestial Reports Q3 Loss Following Impairment Charge On ParmCrisps Snacks Line And Thinsters Cookie Brand

May 10, 2023: 12:00 AM EST
Hain Celestial, a better-for-you snacks company, has reported a Q3 loss following an impairment charge on its ParmCrisps snacks line and Thinsters cookie brand. The $156.6 million non-cash charge contributed to a net loss of $115.7 million for the quarter, against $24.5 million profit the previous year. Hain Celestial attributed the decline to distribution issues and a slowdown in the keto category for ParmCrisps, while also citing ‘softness’ in the North American snacks market affecting Thinsters and other segments of the business. Consequently, the company anticipates a 3-4 percent decline in sales for the year.
Simon Harvey, "Hain Celestial turns to loss on impairment charge linked to snacks", Just-food.com, May 10, 2023, © Verdict Media Limited
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