Investopedia: Can Helen Of Troy Be Greater Than The Sum Of Its Parts?

Building a business isn't always (or perhaps even often) a clean, smooth process. Management teams have to adapt to whatever circumstances come along, whether or not they happen to be convenient at the time. In the case of Helen Of Troy (Nasdaq:HELE) that means buying assets when they become available and suffering the short-term consequences in terms of margins, liquidity, and returns on capital. If this works, though, and management can fit these pieces together and start driving synergies in manufacturing and distribution, the long-run returns could be impressive.

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