Latest news with #PZCussons
Business Insider
29-06-2025
- Business
- Business Insider
PZ Cussons (PZC) Gets a Buy from Deutsche Bank
Deutsche Bank analyst Damian McNeela maintained a Buy rating on PZ Cussons (PZC – Research Report) yesterday and set a price target of £1.20. The company's shares closed yesterday at p74.40. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, McNeela is a 3-star analyst with an average return of 3.6% and a 57.78% success rate. McNeela covers the Consumer Defensive sector, focusing on stocks such as PZ Cussons, Altria Group, and British American Tobacco. PZ Cussons has an analyst consensus of Moderate Buy, with a price target consensus of p120.00.
Daily Mail
26-06-2025
- Business
- Daily Mail
St. Tropez owner abandons sale as bosses back turnaround after US slump
Consumer goods group PZ Cussons no longer plans to sell its St. Tropez tanning brand after mulling bids received via an 'extensive auction process'. PZ Cussons is instead backing a turnaround for the brand in its key US market via a strategy-shake-up and a deal with a local partner. The soapmaker, which also owns the Imperial Leather and Sanctuary Spa brands, put St. Tropez up for sale in April last year as part of efforts to streamline operations after a prolonged struggle with foreign exchange headwinds and high debts. PZ Cussons wants to radically boost returns for shareholders, cut debt, streamline its operations and bolster its bottom line. But St. Tropez has weighed further on the group this year, with US demand for the tanning solution falling by a double-digit percentage in the first half. St Tropez, purchased by PZ Cussons for £62.5million in 2010, was popular with celebrities, including reality television star Kim Kardashian and American model Ashley Graham, and is sold across 28 countries, according to the brand's website. But the brand's deterioration means the group now expects to record a non-cash impairment for the year. PZ Cussons told investors on Thursday the auction process had yielded 'a number of offers' for St. Tropez 'against a backdrop of a challenging performance for the business' and a 'wider contraction of valuation multiples across the beauty category'. But the group has opted to retain St. Tropez and 'set a new strategic direction for the brand' after bosses explored 'a number of alternative business models' to 'create more value for shareholders'. PZ Cussons said it will partner with US group Emerson, which will provide provide customer management, logistics services and 'brand activation in the US' via a dedicated team selling to key US retailers It added: 'The board is confident that this partnership will return St. Tropez to growth in the US, combining Emerson's distribution reach and brand activation capabilities, with the brand equity of St. Tropez. 'The move will help address the challenge of our sub-scale operations in the US, as identified previously, as well as further learnings gleaned over recent months. 'We look forward to strengthening retailer relationships as we work in partnership with Emerson to build the brand.' Boss Jonathan Myers said: 'Today we are setting a new direction for St. Tropez with a renewed operating model built around a focused and incentivised team, a re-set of our 'go to market' capabilities in the US and proven group operations in our other markets. 'With these changes, we are confident in the future of the brand as part of the PZ Cussons portfolio.' PZ Cussons shares were down 3.3 per cent by late morning at 72.8p, taking losses to almost 30 per cent over the last 12 months.
Fashion Network
26-06-2025
- Business
- Fashion Network
PZ Cussons not selling St Tropez brand, gives it new strategic direction, strikes US deal with Emerson
Personal care specialist PZ Cussons announced on Thursday that it won't be selling its St Tropez self-tan brand after all and that it will 'set a new strategic direction' for the business. The company had put the brand up for sale back in April as part of a broader plan to refocus its portfolio. It has since run an 'extensive auction process which resulted in a number of offers being received. This has been against a backdrop of a challenging performance for the business, with a revenue decline in FY25 in the US and a wider contraction of valuation multiples across the Beauty category'. During the time since it went up for sale, PZ Cussons has 'explored a number of alternative business models' for St Tropez that it said 'could create more value for shareholders. As such, and after careful evaluation of the offers received', the board has decided to hold on to it and set that new strategic direction. So what happens now? PZ Cussons will 'establish a focused team to lead the St Tropez brand across the group's international footprint. This team will be incentivised against the identified value drivers of the business: winning in-market execution including digital activation, re-igniting innovation and rejuvenating the brand's equity'. It added that a 'critical component of the plan includes the formation of a strategic partnership with The Emerson Group…. a leading, US-based partner to brand owners'. Emerson is to provide customer management, logistics services and brand activation in the US with St Tropez integrated into its dedicated selling teams to key US retailers. PZ Cussons said this deal builds on its existing relationship with Emerson as the distributor of Childs Farm in the US. The company said it's 'confident' this will return St Tropez to US growth and 'help address the challenge of our sub-scale operations' there. There's clearly a lot of work to do to get St Tropez back to full health and the company added that 'reflecting the recent performance of St Tropez, the group expects to record a non-cash impairment with its FY25 results announcement in September. St Tropez contributed £7.5 million of adjusted operating profit in FY25'. We'll hear further details about that and about its future plans for the brand in September. PZ Cussons CEO Jonathan Myers said of all this: 'Today we are setting a new direction for St Tropez with a renewed operating model built around a focused and incentivised team, a reset of our 'go to market' capabilities in the US and proven group operations in our other markets. With these changes, we are confident in the future of the brand as part of the PZ Cussons portfolio.'
Fashion Network
26-06-2025
- Business
- Fashion Network
PZ Cussons not selling St Tropez brand, gives it new strategic direction, strikes US deal with Emerson
Personal care specialist PZ Cussons announced on Thursday that it won't be selling its St Tropez self-tan brand after all and that it will 'set a new strategic direction' for the business. The company had put the brand up for sale back in April as part of a broader plan to refocus its portfolio. It has since run an 'extensive auction process which resulted in a number of offers being received. This has been against a backdrop of a challenging performance for the business, with a revenue decline in FY25 in the US and a wider contraction of valuation multiples across the Beauty category'. During the time since it went up for sale, PZ Cussons has 'explored a number of alternative business models' for St Tropez that it said 'could create more value for shareholders. As such, and after careful evaluation of the offers received', the board has decided to hold on to it and set that new strategic direction. So what happens now? PZ Cussons will 'establish a focused team to lead the St Tropez brand across the group's international footprint. This team will be incentivised against the identified value drivers of the business: winning in-market execution including digital activation, re-igniting innovation and rejuvenating the brand's equity'. It added that a 'critical component of the plan includes the formation of a strategic partnership with The Emerson Group…. a leading, US-based partner to brand owners'. Emerson is to provide customer management, logistics services and brand activation in the US with St Tropez integrated into its dedicated selling teams to key US retailers. PZ Cussons said this deal builds on its existing relationship with Emerson as the distributor of Childs Farm in the US. The company said it's 'confident' this will return St Tropez to US growth and 'help address the challenge of our sub-scale operations' there. There's clearly a lot of work to do to get St Tropez back to full health and the company added that 'reflecting the recent performance of St Tropez, the group expects to record a non-cash impairment with its FY25 results announcement in September. St Tropez contributed £7.5 million of adjusted operating profit in FY25'. We'll hear further details about that and about its future plans for the brand in September. PZ Cussons CEO Jonathan Myers said of all this: 'Today we are setting a new direction for St Tropez with a renewed operating model built around a focused and incentivised team, a reset of our 'go to market' capabilities in the US and proven group operations in our other markets. With these changes, we are confident in the future of the brand as part of the PZ Cussons portfolio.'
The Independent
26-06-2025
- Business
- The Independent
PZ Cussons pulls out of auctioning off self-tanning brand St Tropez
The owner of St Tropez has decided to hold on to the struggling self-tanning brand more than a year after putting it up for sale. PZ Cussons, the consumer goods firm which owns a raft of labels including Imperial Leather, Carex, and Sanctuary Spa, said staff will be incentivised to boost the brand's performance. It told investors in April last year that it was looking to sell St Tropez to an owner 'better placed to capture the brand's significant long-term potential'. PZ Cussons bought the beauty business for £62.5 million in 2010, and it has become one of the UK's biggest self-tanning brands sold in retailers across the country. However, it has struggled against weaker demand in the US, reporting a double-digit drop in sales over the latest financial year. The Manchester-based company told investors on Thursday that it had run an 'extensive auction process which resulted in a number of offers being received'. But at the same time, the board explored alternative options which it said 'could create more value for shareholders' than accepting any of the offers on the table. 'As such, and after careful evaluation of the offers received, the board has decided to retain St Tropez and set a new strategic direction for the brand,' it said. The team leading the brand will be incentivised to drive its value – while it also set out plans to partner with a US-based business to boost sales across the nation. PZ Cussons' chief executive Jonathan Myers said the changes mean he is 'confident in the future of the brand as part of the PZ Cussons portfolio'.
