Jessica Alba Backed Honest Company Relying On Walmart To Boost Its Financials - Here's Why
Portfolio Pulse from Shivani Kumaresan
Honest Company Inc (NASDAQ:HNST) is relying on an expanded presence in Walmart Inc (NYSE:WMT) to boost its revenue, following a 91% slump in shares since its 2021 public offering. The company has brought in former Amazon.com (NASDAQ:AMZN) executive, Carla Vernón, as CEO to help with the turnaround strategy. The company reported an 8% increase in Q2 revenue after making changes including eliminating the chief digital and strategy officer role and pulling the business out of Asia and Europe.
August 18, 2023 | 1:01 pm
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Former Amazon.com executive, Carla Vernón, has been brought in as CEO of Honest Company Inc to help with the turnaround strategy.
Carla Vernón, a former Amazon.com executive, has been brought in as CEO of Honest Company to help with the turnaround strategy. While this news is relevant to Amazon in terms of its former executive's career progression, it does not directly impact Amazon's stock.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Honest Company Inc is relying on Walmart to boost its revenue, following a 91% slump in shares since its 2021 IPO. The company reported an 8% increase in Q2 revenue after making changes under new CEO Carla Vernón.
The company's shares have slumped significantly since its IPO, and it is now relying on an expanded presence in Walmart to boost its revenue. The new CEO has already made significant changes, which have resulted in an 8% increase in Q2 revenue. However, it remains to be seen whether these changes will be enough to turn the company around.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Walmart Inc is being relied upon by Honest Company Inc to boost its revenue. The company already sells its diapers in about half of Walmart's stores, and its baby wipes, shampoos, and body washes are expected to be stocked up this summer.
Walmart is expected to play a significant role in Honest Company's turnaround strategy. The company already sells its diapers in about half of Walmart's stores, and its baby wipes, shampoos, and body washes are expected to be stocked up this summer. This could potentially increase Walmart's revenue.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80