Physicians Formula Holdings, Inc. Announces the Launch of Physicians Formula Cosmeceutical Skin Care Exclusively at Wal-Mart
17 June 2011 - 7:15AM
Physicians Formula Holdings, Inc. (Nasdaq:FACE) ("Physicians
Formula" or the "Company") today announced that the Company has
developed a new skin care line, under its Physicians Formula brand
name. Starting at the beginning of August, the line will be carried
exclusively in approximately 2,500 Wal-Mart doors, with the
potential to expand to other retailers in 2012. It will initially
be shelved in Wal-Mart's skin care department next to other
cosmeceutical skin care lines. The line will include 14 SKUs, which
the Company will begin shipping to Wal-Mart this month.
Physicians Formula cosmeceutical skin care is a major strategic
development for the Company, which had been previously focused on
color cosmetics. The Company believes that its seventy-four
year legacy as a doctor-founded, problem/solution brand makes skin
care a natural extension of its efforts. Expanding into this
new category will increase awareness of the brand, which is one of
the Company's main strategic objectives, as well as increase
revenue potential and diversify the Company's sales and risks.
The Physicians Formula cosmeceutical skin care line was
developed in-house by the Physicians Formula R&D and product
development teams. It is formulated to create visible results
for the consumer with innovative technology and ingredients, while
also simplifying the process of choosing the correct skin care for
one's individual needs. The line includes three regimens
focused on the most common skin concerns, including Aging, Moisture
Balance and Sensitivity & Redness. Each regimen includes
three steps: cleanse, moisturize and treat, and incorporates
best-in-class cosmeceutical ingredients at the clinically-tested
level.
Ingrid Jackel, Chairwoman and CEO, stated, "We are very proud
and excited to have been chosen by Wal-Mart to partner with them in
developing these best-in-class products. The launch of the
Physicians Formula cosmeceutical skin care line represents another
in a long line of first-to-market innovations for our Company, as
we continue our mission of bringing new beauty technologies and
approaches to the marketplace. It also creates new financial
opportunities and risk diversification for us."
About Physicians Formula Holdings, Inc.
Physicians Formula is an innovative cosmetics company operating
in the mass market prestige, or "masstige", market. Under its
Physicians Formula brand name, created in 1937, the Company
develops, markets and distributes innovative, premium-priced
products for the mass market channel. Physicians Formula
differentiates itself by addressing skin imperfections through a
problem-solving approach, rather than focusing on changing fashion
trends. Currently, Physicians Formula products are sold in 25,700
stores, including those operated by Wal-Mart, Target, CVS and
RiteAid.
Safe Harbor
Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. In some cases, forward-looking statements can be
identified by words such as "anticipates," "estimates," "expects,"
"believes," "plans," "predicts," and similar terms. In particular,
this press release may include forward-looking statements about
management's expectations regarding the Company's refinancing,
strategy, liquidity, financial performance and outlook. These
forward-looking statements are based on current expectations,
estimates and projections about the Company's business and its
industry, based on management's beliefs and assumptions.
Forward-looking statements are not guarantees of future performance
and the Company's actual results may differ significantly from the
results discussed in the forward-looking statements. Factors that
might cause such differences include, but are not limited to: the
loss of any significant retailer customers or the degradation of
our relationship with our significant retailer customers; the
demand for the Company's products, including the new cosmeceutical
skin care line; the Company's ability to expand its product
offerings; the competitive environment in the Company's business,
including the larger competitors the Company will now face in the
skin care category; the Company's operations and ability to achieve
cost savings; the effect of technological and regulatory changes;
the Company's cash needs and financial performance; the Company's
ability to comply with the financial covenants in its debt
agreements; changes in general economic or market conditions; and
other factors discussed in the Company's filings with the
Securities and Exchange Commission (the "SEC"), including the Risk
Factors contained in the Company's filings with the SEC, and
available at www.physiciansformula.com and the SEC's website at
www.sec.gov. You are urged to consider these factors carefully in
evaluating the forward-looking statements in this release and are
cautioned not to place undue reliance on such forward-looking
statements, which are qualified in their entirety by this
cautionary statement. Unless otherwise required by law, the Company
expressly disclaims any obligation to update publicly any
forward-looking statements, whether as result of new information,
future events or otherwise.
(FACE/F)
CONTACT: Anne Rakunas
ICR, Inc.
(310) 954-1100
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