Jessica Alba’s Honest smells like teen spirit
NEW YORK, June 17 (Reuters Breakingviews) - Honest Co (HNST.O) is running into growing pains.
The consumer-packaged goods company founded by Hollywood star Jessica Alba reported on Wednesday first quarter sales for its biggest product category, diapers and wipes, fell 2% year-over-year to nearly $50 million.
True, Honest is branching into other product lines like cosmetics and it’s going up against some difficult comparisons as people stocked up on essentials last year.
Older rival Procter & Gamble (PG.N) said sales for its baby division including Pampers declined 4% for the same period.
But Honest is showing some early worrying blemishes: Digital sales almost came to screaming halt, rising only 2% in the quarter compared to a 23% jump last period.
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