Maker of Schick Razors, Carefree Maxi Pads Is Looking to Pay Down Debt.

Edgewell Personal Care Co., the company behind brands like Banana Boat sunscreen and Schick razors, is prioritizing debt payment over acquisitions due to high interest rates in the US. The company plans to pay off its floating-rate debt by the end of the fiscal year, leaving only fixed-rate debt at an interest rate of about 4.5%. Edgewell recently acquired the Billie and Cremo shaving and razor brands, but is now focused on reducing liabilities, funding growth initiatives, and repurchasing stock. The company is not actively seeking new acquisitions and intends to stay within its existing categories, particularly sun and skin care. Edgewell reported lower-than-expected sales in its latest quarter, partly due to reduced trips to drug stores by budget-conscious shoppers. As a cost-saving measure, the company is discontinuing its Stayfree feminine pads brand and will focus on selling fewer products under the more popular Carefree label. [Extracted from the article]