Helen of Troy Limited Announces New $400 Million Share Repurchase Authorization

EL PASO, Texas–(BUSINESS WIRE)–Helen of Troy Limited (NASDAQ:HELE), designer, developer and
worldwide marketer of consumer brand-name housewares, health and home
and beauty products, today announced that its Board of Directors has
authorized the repurchase of $400 million of its outstanding common
shares (“common stock” or “shares”) in keeping with its stated intention
to opportunistically return to shareholders capital not otherwise
deployed for core business growth or strategic acquisitions. This new
authorization is effective May 8, 2019, for a period of three years, and
replaces Helen of Troy’s existing repurchase authorization, of which
approximately $110 million remained.

Helen of Troy may purchase shares on a discretionary basis from time to
time through open market purchases, privately negotiated transactions or
other means, including through Rule 10b5-1 trading plans. The timing and
amount of any transactions will be subject to the discretion of Helen of
Troy and may be based upon market conditions as well as other
opportunities that Helen of Troy may have for the use or investment of
its capital. The repurchase program does not require the purchase of any
minimum number of shares and may be implemented, modified, suspended or
discontinued in whole or in part at any time without further notice.

In total, the $400 million share repurchase plan represents
approximately 11% of the Company’s outstanding common stock, based upon
the Company’s closing price on May 8, 2019. As of April 22, 2019 Helen,
of Troy had approximately 25 million shares outstanding.

Julien R. Mininberg, Chief Executive Officer, stated: “Helen of Troy
continues to execute from a healthy financial position, operating with a
low debt leverage ratio and generating approximately $200 million in
cash flow from operations in fiscal 2019. Based on the strength of our
balance sheet, coupled with our long-term outlook, we believe our cash
flow generation allows us to deploy capital in line with our capital
strategy, which is to invest in support of our long-term growth, make
strategic acquisitions, and opportunistically repurchase our common
shares. We are confident in our long-term growth prospects, which are
fueled by the success of Phase I of our Transformation Strategy and the
opportunities we see ahead of us in Phase II.”

About Helen of Troy Limited

Helen of Troy Limited (NASDAQ: HELE) is a leading global consumer
products company offering creative solutions for its customers through a
strong portfolio of well-recognized and widely-trusted brands, including
OXO, Hydro Flask, Vicks, Braun, Honeywell, PUR, and Hot Tools. All
trademarks herein belong to Helen of Troy Limited (or its affiliates)
and/or are used under license from their respective licensors.

For more information about Helen of Troy, please visit http://investor.hotus.com/

Forward Looking Statements

Certain written and oral statements made by the Company and subsidiaries
of the Company may constitute “forward-looking statements” as defined
under the Private Securities Litigation Reform Act of 1995. This
includes statements made in this press release. Generally, the words
“anticipates”, “believes”, “expects”, “plans”, “may”, “will”, “should”,
“seeks”, “estimates”, “project”, “predict”, “potential”, “continue”,
“intends”, and other similar words identify forward-looking statements.
All statements that address operating results, events or developments
that the Company expects or anticipates will occur in the future,
including statements related to sales, earnings per share results, and
statements expressing general expectations about future operating
results, are forward-looking statements and are based upon its current
expectations and various assumptions. The Company believes there is a
reasonable basis for these expectations and assumptions, but there can
be no assurance that the Company will realize these expectations or that
these assumptions will prove correct. Forward-looking statements are
subject to risks that could cause them to differ materially from actual
results. Accordingly, the Company cautions readers not to place undue
reliance on forward-looking statements. The forward-looking statements
contained in this press release should be read in conjunction with, and
are subject to and qualified by, the risks described in the Company’s
Form 10-K for the year ended February 28, 2019, and in the Company’s
other filings with the SEC. Investors are urged to refer to the risk
factors referred to above for a description of these risks. Such risks
include, among others, the Company’s ability to deliver products to its
customers in a timely manner and according to their fulfillment
standards, the costs of complying with the business demands and
requirements of large sophisticated customers, the Company’s
relationships with key customers and licensors, its dependence on the
strength of retail economies and vulnerabilities to any prolonged
economic downturn, its dependence on sales to several large customers
and the risks associated with any loss or substantial decline in sales
to top customers, expectations regarding any proposed restructurings,
its recent and future acquisitions or divestitures, including its
ability to realize anticipated cost savings, synergies and other
benefits along with its ability to effectively integrate acquired
businesses or separate divested businesses, circumstances which may
contribute to future impairment of goodwill, intangible or other
long-lived assets, the retention and recruitment of key personnel,
foreign currency exchange rate fluctuations, risks associated with
weather conditions, the duration and severity of the cold and flu season
and other related factors, its dependence on foreign sources of supply
and foreign manufacturing, and associated operational risks including,
but not limited to, long lead times, consistent local labor availability
and capacity, and timely availability of sufficient shipping carrier
capacity, labor and energy on cost of goods sold and certain operating
expenses, the risks associated with significant tariffs or other
restrictions on imports from China or any retaliatory trade measures
taken by China, the geographic concentration and peak season capacity of
certain U.S. distribution facilities increases its exposure to
significant shipping disruptions and added shipping and storage costs,
its projections of product demand, sales and net income are highly
subjective in nature and future sales and net income could vary in a
material amount from such projections, the risks associated with the use
of trademarks licensed from and to third parties, its ability to develop
and introduce a continuing stream of new products to meet changing
consumer preferences, trade barriers, exchange controls, expropriations,
and other risks associated with U.S. and foreign operations, the risks
to its liquidity as a result of changes to capital and credit market
conditions, limitations under its financing arrangements and other
constraints or events that impose constraints on its cash resources and
ability to operate its business, the costs, complexity and challenges of
upgrading and managing its global information systems, the risks
associated with cybersecurity and information security breaches, the
risks associated with global legal developments regarding privacy and
data security could result in changes to our business practices,
penalties, increased cost of operations, or otherwise harm our business,
the risks associated with product recalls, product liability, other
claims, and related litigation against us, the risks associated with
accounting for tax positions, tax audits and related disputes with
taxing authorities, the risks of potential changes in laws in the U.S.
or abroad, including tax laws, regulations or treaties, employment and
health insurance laws and regulations, and laws relating to
environmental policy, personal data, financial regulation,
transportation policy and infrastructure policy along with the costs and
complexities of compliance with such laws, its ability to continue to
avoid classification as a controlled foreign corporation, and
legislation enacted in Bermuda and Barbados in response to the European
Union’s review of harmful tax competition could adversely affect our
operations. The Company undertakes no obligation to publicly update or
revise any forward-looking statements as a result of new information,
future events or otherwise.

Contacts

Investors:
Helen of Troy Limited
Anne Rakunas,
Director, External Communications
(915) 225-4841

ICR, Inc.
Allison Malkin, Partner
(203) 682-8200

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