Hain Celestial (HAIN)
The natural and organic food industry including Hain Celestial (<a href=http://www.zacks.com/stock/quote/hain>HAIN</a>) is facing the brunt of the economic slowdown and escalating costs. The ongoing turmoil and the battered financial market are exerting pressure on consumer disposable incomes, triggering a shift in focus from higher priced organic products to cheaper private label brands. <p> Consequently, retailers and distributors are being compelled to reduce inventories, thus exerting pressure on the company's sales growth. Furthermore, a strong U.S. dollar continues to moderate results, adversely impacting the top-line. <p> In the most recent quarter, earnings were well below the Zacks Consensus Estimate, and were down 17.6% year over year. We recently lowered our recommendation to Underperform.
September 30, 2009 | Filed Under Stocks to Sell
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