Banana Boat Maker Gains as Pandemic Summer Lifts Sunscreen Sales

Edgewell Personal Care Co. jumped after the maker of Banana Boat sunscreen reported strong demand for skin-care products during the warmer months of the pandemic. With the coronavirus keeping people outdoors and away from crowded places, the company benefited from an “extended sun-care season,” according to Chief Financial Officer Daniel Sullivan. Along with heavy demand for Wet Ones sanitizing wipes, that helped drive sales in the skin-care division up 15% in the fourth quarter, the company said.

"We are pleased to close out fiscal 2020 with a fourth quarter that demonstrated a clear return to more stable underlying top line and bottom line performance, underpinned by healthy gross margin results. North American Wet Shave and Sun Care, and continued expansion of our Wet Ones brand, were all areas of strength. Our strong focus on execution and disciplined approach to commercial investment and brand activation, all helped fuel this performance," said Rod Little, Edgewell's President and Chief Executive Officer.

North America organic net sales returned to growth, increasing 3.0% compared to the prior year period, driven by growth in Sun Care, Wet Ones and Women's Shave.

Sun and Skin Care net sales increased $12.1 million , or 15.0%, as compared to the prior year period. Excluding the impact of the acquisition of Cremo and currency movements, organic net sales increased $7.1 million , or 8.8%, driven by strong demand for Wet Ones, which increased 83%, and North America Sun Care, which increased 37%.

https://www.bloomberg.com/news/arti...ains-as-pandemic-summer-lifts-sunscreen-sales

Great news for US sunscreen market, returning to significant growth already. ANO is by far and away the best positioned ingredients supplier to capitalise on this return to impressive growth, going into a very strong outlook for 2021.