Honest Co falls as founder Jessica Alba to resign as creative chief

Honest

10/04/2024 14:27

** Shares of baby and household products maker Honest Co
 HNST.O  fall 3.4% to $3.6 premarket
        ** Company said on Tuesday after markets, its founder,
actress Jessica Alba, would step down from her role as chief
creative officer
    ** HNST says Alba plans to pursue new projects and would
continue to deliver leadership as a member of its board
    ** In March, co also reaffirmed FY revenue and adj. core
profit forecasts and earns surprise profit for Q4, banking on
price hikes and growth in its digital channel 
    ** Brokerage Telsey Advisory Group notes Alba's stepping
down is no significant surprise, post stabilization of the
business and management of the team 
    ** Up to last close, HNST gained 12.7% YTD

 (Reporting by Annett Mary Manoj in Bengaluru)
 ((AnnettMary.Manoj@thomsonreuters.com))