HELEN OF TROY LTD, 10-Q filed on 1/8/2026
Quarterly Report
v3.25.4
Cover page - shares
 9 Months Ended
Nov. 30, 2025
Jan. 02, 2026
Entity Addresses [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Nov. 30, 2025  
Document Transition Report false  
Entity File Number 001-14669  
Entity Registrant Name HELEN OF TROY LIMITED  
Entity Incorporation, State or Country Code D0  
Entity Tax Identification Number 74-2692550  
Entity Address, Address Line One 201 E. Main Street, Suite 300  
Entity Address, City or Town El Paso  
Entity Address, Postal Zip Code 79901  
Entity Address, State or Province TX  
City Area Code 915  
Local Phone Number 225-8000  
Title of 12(b) Security Common Shares, $0.10 par value per share  
Trading Symbol HELE  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   23,072,103
Entity Central Index Key 0000916789  
Current Fiscal Year End Date --02-28  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q3  
Amendment Flag false  
Other Address    
Entity Addresses [Line Items]    
Entity Address, Address Line One Clarendon House  
Entity Address, Address Line Two 2 Church Street  
Entity Address, City or Town Hamilton  
Entity Address, Postal Zip Code HM 11  
Entity Address, Country BM  
v3.25.4
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Nov. 30, 2025
Feb. 28, 2025
Assets, current:    
Cash and cash equivalents $ 27,137 $ 18,867
Receivables, less allowances of $4,475 and $4,294 435,977 428,330
Inventory 505,265 452,615
Prepaid expenses and other current assets 27,639 26,102
Income taxes receivable 8,094 5,798
Total assets, current 1,004,112 931,712
Property and equipment, net of accumulated depreciation of $224,732 and $200,176 331,248 330,029
Goodwill 530,186 1,182,899
Other intangible assets, net of accumulated amortization of $172,310 and $205,757 398,527 566,756
Operating lease assets 50,885 35,063
Deferred tax assets, net 3,648 67,660
Other assets 22,203 17,964
Total assets 2,340,809 3,132,083
Liabilities, current:    
Accounts payable 284,395 269,405
Accrued expenses and other current liabilities 216,337 160,740
Income taxes payable 29,893 26,739
Long-term debt, current maturities 23,438 9,375
Total liabilities, current 554,063 466,259
Long-term debt, excluding current maturities 868,955 907,519
Lease liabilities, non-current 54,491 39,949
Deferred tax liabilities, net 9,584 29,283
Other liabilities, non-current 1,458 5,634
Total liabilities 1,488,551 1,448,644
Commitments and contingencies
Stockholders’ equity:    
Cumulative preferred stock, non-voting, $1.00 par. Authorized 2,000,000 shares; none issued 0 0
Common stock, $0.10 par. Authorized 50,000,000 shares; 23,045,795 and 22,856,066 shares issued and outstanding 2,305 2,286
Additional paid in capital 383,005 367,106
Accumulated other comprehensive (loss) income (1,404) 2,278
Retained earnings 468,352 1,311,769
Total stockholders’ equity 852,258 1,683,439
Total liabilities and stockholders’ equity $ 2,340,809 $ 3,132,083
v3.25.4
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)
$ in Thousands
Nov. 30, 2025
Feb. 28, 2025
Statement of Financial Position [Abstract]    
Allowance on receivables $ 4,475 $ 4,294
Property and equipment, accumulated depreciation 224,732 200,176
Accumulated Amortization $ 172,310 $ 205,757
Cumulative preferred stock, nonvoting, par value (in dollars per share) $ 1.00 $ 1.00
Cumulative preferred stock, non-voting, authorized shares (in shares) 2,000,000 2,000,000
Cumulative preferred stock, non-voting, issued shares (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
Common stock, authorized shares (in shares) 50,000,000 50,000,000
Common stock, shares issued (in shares) 23,045,795 22,856,066
Common stock, shares outstanding (in shares) 23,045,795 22,856,066
v3.25.4
Condensed Consolidated Statements of (Loss) Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Nov. 30, 2025
Nov. 30, 2024
Income Statement [Abstract]        
Sales revenue, net $ 512,829 $ 530,706 $ 1,316,265 $ 1,421,774
Cost of goods sold 272,485 271,378 710,229 743,297
Gross profit 240,344 259,328 606,036 678,477
Selling, general and administrative expense (“SG&A”) 182,808 180,692 527,471 530,865
Asset impairment charges 65,906 0 806,685 0
Restructuring charges 0 3,518 3,005 6,879
Operating (loss) income (8,370) 75,118 (731,125) 140,733
Non-operating income, net 211 198 768 468
Interest expense 15,855 12,164 43,884 37,923
(Loss) income before income tax (24,014) 63,152 (774,241) 103,278
Income tax expense 60,042 13,536 69,176 30,444
Net (loss) income $ (84,056) $ 49,616 $ (843,417) $ 72,834
(Loss) earnings per share:        
Basic (in dollars per share) $ (3.65) $ 2.17 $ (36.70) $ 3.16
Diluted (in dollars per share) $ (3.65) $ 2.17 $ (36.70) $ 3.15
Weighted average shares used in computing (loss) earnings per share:        
Basic (in shares) 23,035 22,853 22,979 23,064
Diluted (in shares) 23,035 22,882 22,979 23,118
v3.25.4
Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Nov. 30, 2025
Nov. 30, 2024
Statement of Comprehensive Income [Abstract]        
Net (loss) income $ (84,056) $ 49,616 $ (843,417) $ 72,834
Other comprehensive income (loss), net of tax:        
Cash flow hedge activity - interest rate swaps (433) 1,934 (590) (587)
Cash flow hedge activity - foreign currency contracts 4,490 2,824 (3,092) 1,731
Total other comprehensive income (loss), net of tax 4,057 4,758 (3,682) 1,144
Comprehensive (loss) income $ (79,999) $ 54,374 $ (847,099) $ 73,978
v3.25.4
Condensed Consolidated Statements of Stockholders’ Equity (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid in Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Beginning balance (in shares) at Feb. 29, 2024   23,751      
Beginning balance at Feb. 29, 2024 $ 1,637,442 $ 2,375 $ 348,739 $ 2,099 $ 1,284,229
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) 6,204       6,204
Other comprehensive income (loss), net of tax 698     698  
Exercise of stock options (in shares)   6      
Exercise of stock options 352 $ 1 351    
Issuance and settlement of restricted stock (in shares)   71      
Issuance and settlement of restricted stock 0 $ 7 (7)    
Issuance of common stock related to stock purchase plan (in shares)   19      
Issuance of common stock related to stock purchase plan 2,006 $ 2 2,004    
Common stock repurchased and retired (in shares)   (1,037)      
Common stock repurchased and retired (103,035) $ (104) (6,720)   (96,211)
Share-based compensation 5,833   5,833    
Ending balance (in shares) at May. 31, 2024   22,810      
Ending balance at May. 31, 2024 1,549,500 $ 2,281 350,200 2,797 1,194,222
Beginning balance (in shares) at Feb. 29, 2024   23,751      
Beginning balance at Feb. 29, 2024 1,637,442 $ 2,375 348,739 2,099 1,284,229
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Other comprehensive income (loss), net of tax 1,144        
Ending balance (in shares) at Nov. 30, 2024   22,853      
Ending balance at Nov. 30, 2024 1,628,176 $ 2,285 361,796 3,243 1,260,852
Beginning balance (in shares) at May. 31, 2024   22,810      
Beginning balance at May. 31, 2024 1,549,500 $ 2,281 350,200 2,797 1,194,222
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) 17,014       17,014
Other comprehensive income (loss), net of tax (4,312)     (4,312)  
Issuance and settlement of restricted stock (in shares)   6      
Issuance and settlement of restricted stock 0        
Common stock repurchased and retired (in shares)   (1)      
Common stock repurchased and retired (109)   (109)    
Share-based compensation 5,487   5,487    
Ending balance (in shares) at Aug. 31, 2024   22,815      
Ending balance at Aug. 31, 2024 1,567,580 $ 2,281 355,578 (1,515) 1,211,236
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) 49,616       49,616
Other comprehensive income (loss), net of tax 4,758     4,758  
Issuance and settlement of restricted stock (in shares)   5      
Issuance and settlement of restricted stock 0 $ 1 (1)    
Issuance of common stock related to stock purchase plan (in shares)   33      
Issuance of common stock related to stock purchase plan 1,522 $ 3 1,519    
Common stock repurchased and retired (30)   (30)    
Share-based compensation 4,730   4,730    
Ending balance (in shares) at Nov. 30, 2024   22,853      
Ending balance at Nov. 30, 2024 1,628,176 $ 2,285 361,796 3,243 1,260,852
Beginning balance (in shares) at Feb. 28, 2025   22,856      
Beginning balance at Feb. 28, 2025 1,683,439 $ 2,286 367,106 2,278 1,311,769
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) (450,718)       (450,718)
Other comprehensive income (loss), net of tax (5,756)     (5,756)  
Issuance and settlement of restricted stock (in shares)   75      
Issuance and settlement of restricted stock (1) $ 7 (8)    
Issuance of common stock related to stock purchase plan (in shares)   39      
Issuance of common stock related to stock purchase plan 1,757 $ 4 1,753    
Common stock repurchased and retired (in shares)   (25)      
Common stock repurchased and retired (1,331) $ (3) (1,328)    
Share-based compensation 296   296    
Ending balance (in shares) at May. 31, 2025   22,945      
Ending balance at May. 31, 2025 1,227,686 $ 2,294 367,819 (3,478) 861,051
Beginning balance (in shares) at Feb. 28, 2025   22,856      
Beginning balance at Feb. 28, 2025 1,683,439 $ 2,286 367,106 2,278 1,311,769
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Other comprehensive income (loss), net of tax (3,682)        
Ending balance (in shares) at Nov. 30, 2025   23,046      
Ending balance at Nov. 30, 2025 852,258 $ 2,305 383,005 (1,404) 468,352
Beginning balance (in shares) at May. 31, 2025   22,945      
Beginning balance at May. 31, 2025 1,227,686 $ 2,294 367,819 (3,478) 861,051
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) (308,643)       (308,643)
Other comprehensive income (loss), net of tax (1,983)     (1,983)  
Issuance and settlement of restricted stock (in shares)   22      
Issuance and settlement of restricted stock 1 $ 2 (1)    
Common stock repurchased and retired (in shares)   (5)      
Common stock repurchased and retired (151)   (151)    
Share-based compensation 9,372   9,372    
Ending balance (in shares) at Aug. 31, 2025   22,962      
Ending balance at Aug. 31, 2025 926,282 $ 2,296 377,039 (5,461) 552,408
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) (84,056)       (84,056)
Other comprehensive income (loss), net of tax 4,057     4,057  
Issuance and settlement of restricted stock (in shares)   39      
Issuance and settlement of restricted stock 2 $ 4 (2)    
Issuance of common stock related to stock purchase plan (in shares)   56      
Issuance of common stock related to stock purchase plan 1,167 $ 6 1,161    
Common stock repurchased and retired (in shares)   (11)      
Common stock repurchased and retired (224) $ (1) (223)    
Share-based compensation 5,030   5,030    
Ending balance (in shares) at Nov. 30, 2025   23,046      
Ending balance at Nov. 30, 2025 $ 852,258 $ 2,305 $ 383,005 $ (1,404) $ 468,352
v3.25.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Cash provided by operating activities:    
Net (loss) income $ (843,417) $ 72,834
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 39,781 40,850
Amortization of financing costs 1,159 957
Non-cash operating lease expense 6,770 8,583
Provision for credit losses 194 (537)
Non-cash share-based compensation 14,698 16,050
Asset impairment charges 806,685 0
Loss on extinguishment of debt 855 0
Gain on the sale or disposal of property and equipment (217) (10)
Deferred income taxes and tax credits 45,304 8,400
Changes in operating capital, net of effects of acquisition of business:    
Receivables (6,239) (61,806)
Inventory (52,650) (54,745)
Prepaid expenses and other current assets (6,615) (9,700)
Other assets and liabilities, net (1,839) (428)
Accounts payable 12,271 71,042
Accrued expenses and other current liabilities 44,760 (2,845)
Accrued income taxes (1,687) (10,409)
Net cash provided by operating activities 59,813 78,236
Cash used by investing activities:    
Capital and intangible asset expenditures (31,006) (22,155)
Net proceeds from business acquired 3,880 0
Payments for purchases of U.S. Treasury Bills (2,092) (3,441)
Proceeds from the maturity of U.S. Treasury Bills 1,916 1,872
Proceeds from the sale of property and equipment 252 145
Net cash used by investing activities (27,050) (23,579)
Cash used by financing activities:    
Proceeds from revolving loans 450,510 747,840
Repayment of revolving loans (713,110) (675,890)
Proceeds from term loans 250,000 0
Repayment of long-term debt (11,719) (4,687)
Payment of financing costs (1,392) (323)
Proceeds from share issuances under share-based compensation plans 2,924 3,880
Payments for repurchases of common stock (1,706) (103,174)
Cash used by investing activities: (24,493) (32,354)
Net increase in cash and cash equivalents 8,270 22,303
Cash and cash equivalents, beginning balance 18,867 18,501
Cash and cash equivalents, ending balance 27,137 40,804
Supplemental non-cash investing activity:    
Capital expenditures included in accounts payable and accrued expenses $ 6,640 $ 6,935
v3.25.4
Basis of Presentation and Related Information
 9 Months Ended
Nov. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation and Related Information
Note 1 - Basis of Presentation and Related Information

Corporate Overview

The accompanying condensed consolidated financial statements contain all adjustments (consisting of normal recurring adjustments) necessary to present fairly our consolidated financial position as of November 30, 2025 and February 28, 2025, and the results of our consolidated operations for the interim periods presented. We follow the same accounting policies when preparing quarterly financial data as we use for preparing annual data. These statements should be read in conjunction with the consolidated financial statements and the notes included in our latest annual report on Form 10-K for the fiscal year ended February 28, 2025 (“Form 10-K”), and our other reports on file with the Securities and Exchange Commission (the “SEC”).

When used in these notes, unless otherwise indicated or the context suggests otherwise, references to “the Company”, “our Company”, “Helen of Troy”, “we”, “us”, or “our” refer to Helen of Troy Limited and its subsidiaries, which are all wholly-owned. We refer to our common shares, par value $0.10 per share, as “common stock.” References to “fiscal” in connection with a numeric year number denotes our fiscal year ending on the last day of February, during the year number listed. References to “the FASB” refer to the Financial Accounting Standards Board. References to “GAAP” refer to accounting principles generally accepted in the United States of America (the “U.S.”). References to “ASU” refer to the codification of GAAP in the Accounting Standards Updates issued by the FASB. References to “ASC” refer to the codification of GAAP in the Accounting Standards Codification issued by the FASB.

We incorporated as Helen of Troy Corporation in Texas in 1968 and were reorganized as Helen of Troy Limited in Bermuda in 1994. We are a leading global consumer products company offering creative products and solutions for our customers through a diversified portfolio of brands. Our portfolio of brands includes OXO, Hydro Flask, Osprey, Vicks, Braun, Honeywell, PUR, Hot Tools, Drybar, Curlsmith, Revlon and Olive & June, among others. As of November 30, 2025, we operated two reportable segments: Home & Outdoor and Beauty & Wellness.

Our Home & Outdoor segment offers a broad range of outstanding world-class brands that help consumers enjoy everyday living inside their homes and outdoors. Our innovative products for home activities include food preparation and storage, cooking, cleaning, organization, and beverage service. Our outdoor performance range, on-the-go food storage, and beverageware includes lifestyle hydration products, coolers and food storage solutions, backpacks, and travel gear. The Beauty & Wellness segment provides consumers with a broad range of outstanding world-class brands for beauty and wellness. In Beauty, we deliver innovation through products such as hair styling appliances, grooming tools, liquid and aerosol personal care products, and nail care solutions that help consumers look and feel more beautiful. In Wellness, we are there when you need us most with highly regarded humidifiers, thermometers, water and air purifiers, heaters, and fans.

Our business is seasonal due to different calendar events, holidays and seasonal weather and illness patterns. Our fiscal reporting period ends on the last day in February. Historically, our highest sales volume and operating income occur in our third fiscal quarter ending November 30th. We purchase our products from unaffiliated manufacturers, most of which are located in China, Mexico, Vietnam and the U.S.
On December 16, 2024, we completed the acquisition of Olive & June, LLC (“Olive & June”), an innovative, omni-channel nail care brand. The Olive & June brand and products were added to the Beauty & Wellness segment. The total purchase consideration consists of initial cash consideration of $224.7 million, which is net of cash acquired and a favorable post-closing adjustment of $3.9 million, and contingent cash consideration of up to $15.0 million subject to Olive & June’s performance during calendar years 2025, 2026, and 2027, payable annually. See Note 4 and Note 11 for additional information.

Principles of Consolidation

The accompanying condensed consolidated financial statements are prepared in accordance with GAAP and include all of our subsidiaries. Our condensed consolidated financial statements are prepared in U.S. Dollars. All intercompany balances and transactions are eliminated in consolidation.

The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in our condensed consolidated financial statements and accompanying notes. Actual results may differ materially from those estimates.
v3.25.4
New Accounting Pronouncements
 9 Months Ended
Nov. 30, 2025
Accounting Changes and Error Corrections [Abstract]  
New Accounting Pronouncements
Note 2 - New Accounting Pronouncements

Except for the changes discussed below, there have been no changes in the information provided in our Form 10-K.

Not Yet Adopted

In July 2025, the FASB issued ASU 2025-05, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, which permits entities to elect a practical expedient to assume current conditions as of the balance sheet date will not change for the remaining life of accounts receivable and contract assets when developing forecasts as part of estimating expected credit losses. The amendments in ASU 2025-05 are effective for fiscal years beginning after December 15, 2025, and interim periods within those fiscal years, with early adoption permitted. The amendments should be applied prospectively. This ASU will be effective for us in the first quarter of fiscal 2027. We are currently evaluating this practical expedient and do not expect it to have a material impact on our consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which removes all references to software development project stages and requires entities to start capitalizing software costs when both of the following occur: (i) management has authorized and committed to funding the software project and (ii) it is probable that the project will be completed and the software will be used to perform the function intended. The amendments in ASU 2025-06 are effective for fiscal years beginning after December 15, 2027, and interim periods within those fiscal years, with early adoption permitted as of the beginning of a fiscal year. The amendments can be applied prospectively, retrospectively, or via a modified prospective transition method. This ASU will be effective for us in the first quarter of fiscal 2029. We are currently evaluating the impact this guidance may have on our consolidated financial statements.
v3.25.4
Accrued Expenses and Other Current Liabilities
 9 Months Ended
Nov. 30, 2025
Payables and Accruals [Abstract]  
Accrued Expenses and Other Current Liabilities
Note 3 - Accrued Expenses and Other Current Liabilities

A summary of accrued expenses and other current liabilities was as follows:
(in thousands)November 30, 2025February 28, 2025
Accrued compensation, benefits and payroll taxes$31,422 $16,096 
Accrued sales discounts and allowances51,753 36,600 
Accrued sales returns22,583 20,190 
Accrued advertising32,951 25,716 
Other77,628 62,138 
Total accrued expenses and other current liabilities$216,337 $160,740 
v3.25.4
Acquisition of Olive & June
 9 Months Ended
Nov. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisition of Olive & June
Note 4 - Acquisition of Olive & June

On December 16, 2024, we completed the acquisition of 100% of the membership interests of Olive & June, an innovative, omni-channel nail care brand. Olive & June products deliver a salon-quality experience at home and include nail polish, press-on nails, manicure and pedicure systems, grooming tools and nail care essentials. The acquisition of Olive & June complements and broadens our existing Beauty portfolio beyond the hair care category. The Olive & June brand and products were added to the Beauty & Wellness segment. The total purchase consideration consists of initial cash consideration of $224.7 million, which is net of cash acquired and a favorable post-closing adjustment of $3.9 million, and contingent cash consideration of up to $15.0 million subject to Olive & June’s performance during calendar years 2025, 2026, and 2027, payable annually. The acquisition was funded with cash on hand and borrowings under our existing revolving credit facility.

The contingent cash consideration of up to $15.0 million is payable annually in three equal installments subject to Olive & June achieving certain annual adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”) targets during calendar years 2025, 2026 and 2027. If the annual adjusted EBITDA target is not met, no payment is required. As of the acquisition date, we recorded a liability for the estimated fair value of the contingent consideration of $4.1 million, of which $1.8 million and $2.3 million was included within accrued expenses and other current liabilities and other liabilities, non-current, respectively, in our condensed consolidated balance sheet. This contingent consideration liability is remeasured at fair value each reporting period until the contingency is resolved, with changes in fair value recognized in SG&A. See Note 11 for additional information regarding the estimated fair value of our contingent consideration liability.

We accounted for the acquisition as a purchase of a business and recorded the excess of the purchase price over the provisionally determined estimated fair value of the assets acquired and liabilities assumed as goodwill. Adjustments to these provisional amounts may be made during the measurement period as we continue to obtain and evaluate information necessary to finalize these amounts. The goodwill recognized is attributable primarily to expected synergies including leveraging our operational scale, existing customer relationships and distribution capabilities. The goodwill is expected to be deductible for income tax purposes. We have provisionally determined the appropriate fair values of the acquired intangible assets and completed our analysis of the economic lives of the assets acquired. We assigned $51.0 million to trade names and are amortizing over a 15 year expected life. We assigned $8.0 million to customer relationships and are amortizing over a 8.5 year expected life, based on historical attrition rates. We assigned $1.6 million to non-compete agreements and are amortizing over a 5 year expected life.

During the first quarter of fiscal 2026, we made adjustments to provisional asset and liability balances, which resulted in a corresponding net decrease to goodwill of $0.3 million. We also finalized the net
working capital adjustment during the first quarter of fiscal 2026, which resulted in a $3.9 million reduction to the total purchase consideration and goodwill. During the third quarter of fiscal 2026, we made adjustments to a provisional current liability balance, which resulted in a corresponding de minimis increase to goodwill.

The following table presents the preliminary estimated fair values of assets acquired and liabilities assumed at the acquisition date:
(in thousands)
Assets:
Receivables$13,182 
Inventory15,121 
Prepaid expenses and other current assets3,920 
Property and equipment1,490 
Goodwill150,726 
Trade names - definite51,000 
Customer relationships - definite8,000 
Other intangible assets - definite1,600 
Other assets275 
Total assets245,314 
Liabilities:
Accounts payable5,614 
Accrued expenses and other current liabilities12,731 
Other liabilities, non-current2,300 
Total liabilities20,645 
Net assets recorded$224,669 
v3.25.4
Goodwill and Intangibles
 9 Months Ended
Nov. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangibles
Note 5 - Goodwill and Intangibles

We perform annual impairment testing each fiscal year and interim impairment testing, if necessary. We write down any asset deemed to be impaired to its fair value.

During the first, second and third quarters of fiscal 2026, we concluded that a goodwill impairment triggering event had occurred due to a further sustained decline in our stock price, resulting in our carrying value (excluding long-term debt) exceeding the Company’s total enterprise value (market capitalization plus long-term debt). Additional factors that contributed to these conclusions included downward revisions to our internal forecasts and strategic long-term plans, which reflect the tariff policies in effect and the related macroeconomic environment at the end of our first, second and third quarters of fiscal 2026, including the corresponding impact on consumer spending and retailer orders. These factors were applicable to all of our reporting units, indefinite-lived trademark licenses and trade names and definite-lived trademark licenses, trade names and certain other intangible assets. Thus, we performed quantitative impairment testing on our goodwill and intangible assets described above during the first, second and third quarters of fiscal 2026.

We estimate the fair value of our trade names and trademark licenses using the relief from royalty method income approach which is based upon projected future discounted cash flows (“DCF Model”). We estimate the fair value of our customer relationships and lists using the distributor method income approach which is based upon a DCF Model. After adjusting the carrying values of our indefinite-lived and definite-lived intangible assets, the Company completed quantitative impairment testing for goodwill. We estimate the fair value of our reporting units using an income approach based upon projected future discounted cash flows.
Based on the outcome of these assessments, we recognized pre-tax asset impairment charges as follows:
(in thousands)Three Months Ended
November 30, 2025		Nine Months Ended
November 30, 2025
Home & Outdoor (1)
$24,000 $328,632 
Beauty & Wellness (2)
41,906 478,053 
Total
$65,906 $806,685 
(1)Asset impairment charges recognized for our Home & Outdoor segment included charges for our Hydro Flask and Osprey businesses of $15.0 million and $9.0 million, respectively, for the three months ended November 30, 2025 and $180.5 million and $148.1 million, respectively, for the nine months ended November 30, 2025.
(2)Asset impairment charges recognized for our Beauty & Wellness segment included charges for our Health & Wellness, Drybar and Curlsmith businesses of $10.7 million, $3.1 million and $28.2 million, respectively, for the three months ended November 30, 2025 and for our Health & Wellness, Drybar, Curlsmith and Revlon businesses of $207.3 million, $154.5 million, $92.8 million and $23.5 million, respectively, for the nine months ended November 30, 2025.

During the first quarter of fiscal 2026, in connection with our annual budgeting and forecasting process, management reduced its forecasts for net sales revenue, gross margin and earnings before interest and taxes to reflect the tariff policies in effect and the related macroeconomic environment at the end of our first quarter of fiscal 2026, including the corresponding impact on consumer spending and retailer orders, as applicable. The revised forecasts also resulted in management selecting lower residual growth rates, which were also reflective of revised long-term industry growth expectations, and royalty rates, as applicable. During the second and third quarters of fiscal 2026, management further reduced its forecasts for net sales revenue, gross margin and earnings before interest and taxes to reflect the tariff policies in effect, timing of corresponding price increases and the related macroeconomic environment at the end of our second and third quarters of fiscal 2026, including the impact on consumer spending, retailer orders and China cross border ecommerce due to a shift to localized distribution, as applicable. We did not recognize any asset impairment charges during the three and nine months ended November 30, 2024. Refer to Note 11 for additional information on our valuation method and related assumptions and estimates. For additional information regarding the testing and analysis performed, refer to “Critical Accounting Policies and Estimates” in Item 2., “Management’s Discussion and Analysis of Financial Condition and Results of Operations”.

The following table summarizes the changes in our goodwill by segment for the nine months ended November 30, 2025:

(in thousands)Home &
 Outdoor		Beauty &
Wellness 		Total
Gross carrying amount as of February 28, 2025
$491,777 $729,792 $1,221,569 
Accumulated impairment as of February 28, 2025
— (38,670)(38,670)
Net carrying amount as of February 28, 2025
$491,777 $691,122 $1,182,899 
Acquisitions (1)
— (4,113)(4,113)
Impairment charges (2)
(229,058)(419,542)(648,600)
Gross carrying amount as of November 30, 2025
$491,777 $725,679 $1,217,456 
Accumulated impairment as of November 30, 2025
(229,058)(458,212)(687,270)
Net carrying amount as of November 30, 2025
$262,719 $267,467 $530,186 

(1)Reflects a favorable post-closing adjustment to goodwill recorded in the Beauty & Wellness segment during the first quarter of fiscal 2026, partially offset by an increase to goodwill for adjustments to a provisional current liability balance during the third quarter of fiscal 2026 in connection with the acquisition of Olive & June on December 16, 2024. For additional information see Note 4.
(2)The Home & Outdoor segment reflects goodwill impairment charges related to our Hydro Flask and Osprey reporting units of $115.9 million and $113.1 million, respectively, for the nine months ended November 30, 2025. No goodwill impairment charges were recognized during the three months ended November 30, 2025 related to our Home & Outdoor segment. The Beauty & Wellness segment reflects goodwill impairment charges related to our Health & Wellness, Drybar and
Curlsmith reporting units of $10.7 million, $0.2 million and $28.2 million, respectively, for the three months ended November 30, 2025 and $200.3 million, $134.3 million and $85.0 million, respectively, for the nine months ended November 30, 2025. The remaining carrying values of the Osprey, Health & Wellness and Curlsmith reporting units’ goodwill as of November 30, 2025 were $96.6 million, $84.7 million and $32.1 million, respectively. The goodwill impairment charges recognized for the Hydro Flask and Drybar reporting units reduced the carrying values of their goodwill to zero.

The following table summarizes the components of our other intangible assets as follows:

November 30, 2025February 28, 2025
(in thousands)Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Indefinite-lived:
Trademark licenses
$7,400 $— $7,400 $7,400 $— $7,400 
Trade names (1)
257,200 — 257,200 358,200 — 358,200 
Definite-lived:
Trademark licenses (2)
45,700 (2,915)42,785 75,050 (9,454)65,596 
Trade names (3)
65,253 (3,850)61,403 89,365 (14,030)75,335 
Customer relationships and lists (4)
137,001 (115,463)21,538 168,201 (120,932)47,269 
Other intangibles (5)
58,283 (50,082)8,201 74,297 (61,341)12,956 
Total $570,837 $(172,310)$398,527 $772,513 $(205,757)$566,756 
(1)Balances as of November 30, 2025 reflect total impairment charges of $24.0 million during the three months ended November 30, 2025 which includes $15.0 million related to our Hydro Flask trade name and $9.0 million related to our Osprey trade name and $97.0 million during the nine months ended November 30, 2025, which includes $55.0 million related to our Hydro Flask trade name, $35.0 million related to our Osprey trade name and $7.0 million related to our PUR trade name. The remaining carrying values of the Osprey and PUR trade names as of November 30, 2025 were $135.0 million and $47.0 million, respectively. The impairment charges were recorded in the Home & Outdoor segment for Hydro Flask and Osprey and in the Beauty & Wellness segment for PUR. The remaining carrying value of the Hydro Flask trade name of $4.0 million was reclassified to a definite-lived trade name as of November 30, 2025 and assigned a useful life of 10 years.
(2)Balances as of November 30, 2025 reflect total impairment charges recorded in the Beauty & Wellness segment during the nine months ended November 30, 2025 of $23.5 million related to our Revlon trademark license. The remaining carrying value of this trademark license as of November 30, 2025 was $40.4 million. As of November 30, 2025, the remaining useful life of the Revlon trademark license was revised from approximately 35 years to 10 years, which will increase annual amortization expense by approximately $2.9 million. No impairment charges were recognized during the three months ended November 30, 2025 related to our definite-lived trademark licenses.
(3)Balances as of November 30, 2025 reflect total impairment charges recorded in the Beauty & Wellness segment of $2.9 million during the three months ended November 30, 2025 related to our Drybar trade name and $14.5 million during the nine months ended November 30, 2025, which includes $7.8 million related to our Curlsmith trade name and $6.7 million related to our Drybar trade name. The remaining carrying value of the Curlsmith trade name as of November 30, 2025 was $9.6 million. The impairment charge recognized for the Drybar trade name reduced its carrying value to zero. The balance above also includes the carrying value of the Hydro Flask trade name of $4.0 million that was reclassified from an indefinite-lived trade name to a definite-lived trade name as of November 30, 2025.
(4)Balances as of November 30, 2025 reflect total impairment charges of $19.5 million recognized during the nine months ended November 30, 2025, which includes $10.7 million and $8.8 million recorded in the Beauty & Wellness and Home & Outdoor segments, respectively, related to our Drybar and Hydro Flask customer relationships which reduced the carrying values of these assets to zero. No impairment charges were recognized during the three months ended November 30, 2025 related to our customer relationships and lists.
(5)Balances as of November 30, 2025 reflect total impairment charges of $3.6 million recognized during the nine months ended November 30, 2025, which includes $2.8 million and $0.8 million recorded in the Beauty & Wellness and Home & Outdoor segments, respectively, related to Drybar and Hydro Flask other intangibles which reduced the carrying values of these assets to zero. No impairment charges were recognized during the three months ended November 30, 2025 related to our other intangible assets.
During the three and nine months ended November 30, 2025, we recorded amortization expense of $3.7 million and $12.6 million, respectively, compared to $4.5 million and $13.6 million during the same periods last year, respectively.

The following table summarizes amortization expense related to our other intangible assets as follows:

Estimated Amortization Expense (in thousands)
 
Fiscal 2026
$17,096 
Fiscal 202714,587 
Fiscal 202811,920 
Fiscal 202911,892 
Fiscal 203011,595 
Fiscal 2031
10,759 
v3.25.4
Share-Based Compensation Plans
 9 Months Ended
Nov. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Plans
Note 6 - Share-Based Compensation Plans

As part of our compensation structure, we grant share-based compensation awards to certain employees and non-employee members of our Board of Directors during the fiscal year. These awards may be subject to attainment of certain service conditions, performance conditions and/or market conditions. In connection with our annual grant during the first quarter of fiscal 2026, we granted 272,909 service condition awards (“Service Condition Awards”) with a weighted average grant date fair value of $53.28. Additionally, we granted 320,027 performance-based awards during the first quarter of fiscal 2026, of which 191,946 contained performance conditions (“Performance Condition Awards”) and 128,081 contained market conditions (“Market Condition Awards”), with weighted average grant date fair values of $53.28 and $37.24, respectively. Refer to our Form 10-K for further information on the Company’s share-based compensation plans.

The Helen of Troy Limited 2018 Stock Incentive Plan (“2018 Plan”) became effective on August 22, 2018. On August 20, 2025, our shareholders approved the 2025 Stock Incentive Plan (the “2025 Plan”) which replaced the 2018 Plan. As a result, the 2018 Plan terminated on August 20, 2025, but will continue to apply to awards granted under the 2018 Plan before such date. The 2025 Plan permits the granting of stock options, stock appreciation rights, restricted stock, restricted stock units and other stock-based awards. As of November 30, 2025, the 2025 Plan had 1,092,393 shares available for future issuance, including shares which remained available for issuance under the 2018 Plan immediately prior to August 20, 2025.

We recorded share-based compensation expense in SG&A as follows:
 Three Months Ended November 30,Nine Months Ended November 30,
(in thousands)202520242025 (1)2024
Directors’ stock compensation
$196 $197 $588 $589 
Service Condition Awards3,462 2,711 14,030 8,105 
Performance Condition Awards734 563 (2,128)2,703 
Market Condition Awards309 842 1,318 3,609 
Employee stock purchase plan329 417 890 1,044 
Share-based compensation expense5,030 4,730 14,698 16,050 
Less: income tax benefits
(521)(354)(1,123)(839)
Share-based compensation expense, net of income tax benefits$4,509 $4,376 $13,575 $15,211 
(1)Share-based compensation expense during the nine months ended November 30, 2025 includes a benefit for Performance Condition Awards, as a result of a change in estimate from target achievement to zero percent achievement for Performance Condition Awards granted during fiscal 2024.
Unrecognized Share-Based Compensation Expense

As of November 30, 2025, our total unrecognized share-based compensation for all awards was $20.8 million, which will be recognized over a weighted average amortization period of 2.0 years. The total unrecognized share-based compensation reflects an estimate of target achievement for Performance Condition Awards granted during fiscal 2026 and fiscal 2025 and an estimate of zero percent of target achievement for Performance Condition Awards granted during fiscal 2024.
v3.25.4
Repurchases of Common Stock
 9 Months Ended
Nov. 30, 2025
Equity [Abstract]  
Repurchases of Common Stock
Note 7 - Repurchases of Common Stock

In August 2024, our Board of Directors authorized the repurchase of up to $500 million of our outstanding common stock. The authorization became effective August 20, 2024, for a period of three years, and replaced our former repurchase authorization. As of November 30, 2025, our repurchase authorization allowed for the purchase of $498.2 million of common stock.

Our current equity-based compensation plans include provisions that allow for the “net exercise” of share-settled awards by all plan participants. In a net exercise, any required payroll taxes, federal withholding taxes and exercise price of the shares due from the option or other share-based award holders are settled by having the holder tender back to us a number of shares at fair value equal to the amounts due. Net exercises are treated as repurchases of shares.

The following table summarizes our share repurchase activity for the periods shown:
 Three Months Ended November 30,Nine Months Ended November 30,
(in thousands, except share and per share data)2025202420252024
Common stock repurchased on the open market: 
Number of shares— — — 1,011,243 
Aggregate value of shares$— $— $— $100,019 
Average price per share$— $— $— $98.91 
Common stock received in connection with share-based compensation:
Number of shares11,025 448 40,964 27,223 
Aggregate value of shares$224 $30 $1,706 $3,155 
Average price per share$20.30 $66.34 $41.64 $115.89 
v3.25.4
Restructuring Plan
 9 Months Ended
Nov. 30, 2025
Restructuring and Related Activities [Abstract]  
Restructuring Plan
Note 8 - Restructuring Plan

During fiscal 2023, we initiated a global restructuring plan intended to expand operating margins through initiatives designed to improve efficiency and effectiveness and reduce costs (referred to as “Project Pegasus”). During the fourth quarter of fiscal 2025, we completed Project Pegasus, but still expect to realize the targeted savings through fiscal 2027. Project Pegasus included initiatives to further optimize our brand portfolio, streamline and simplify the organization, accelerate and amplify cost of goods savings projects, enhance the efficiency of our supply chain network, optimize our indirect spending and improve our cash flow and working capital, as well as other activities. These initiatives created operating efficiencies, as well as provided a platform to fund growth investments. During fiscal 2023, 2024 and 2025, we incurred restructuring charges in connection with Project Pegasus primarily for professional fees and severance and employee related costs, which were recorded as “Restructuring charges” in the condensed consolidated statements of (loss) income. Restructuring charges primarily represented cash expenditures and were substantially paid by the end of fiscal 2025, with a remaining liability of $7.7 million as of February 28, 2025.
During the three and nine months ended November 30, 2024, we incurred $3.5 million and $6.9 million, respectively, of pre-tax restructuring costs in connection with Project Pegasus, which were primarily comprised of severance and employee related costs, contract termination costs and professional fees. During the nine months ended November 30, 2025 and November 30, 2024, we made total cash restructuring payments related to Project Pegasus of $5.7 million and $9.8 million, respectively, and had a remaining liability of $2.0 million as of November 30, 2025 which is included in accrued expenses and other current liabilities. The cash payments during both the nine months ended November 30, 2025 and 2024 were primarily for severance and employee related costs. For information regarding Project Pegasus savings, refer to Item 2., “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” including “Project Pegasus.”
v3.25.4
Commitments and Contingencies
 9 Months Ended
Nov. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
Note 9 - Commitments and Contingencies

Legal Matters

We are involved in various legal claims and proceedings in the normal course of operations. We believe the outcome of these matters will not have a material adverse effect on our consolidated financial position, results of operations or liquidity, except as described below.

On December 23, 2021, Brita LP filed a complaint against Kaz USA, Inc. and Helen of Troy Limited in the U.S. District Court for the Western District of Texas (the “Patent Litigation”), alleging patent infringement by the Company relating to its PUR gravity-fed water filtration systems. In the Patent Litigation, Brita LP seeks monetary damages and injunctive relief relating to the alleged infringement. Brita LP simultaneously filed a complaint with the U.S. International Trade Commission (“ITC”) against Kaz USA, Inc., Helen of Troy Limited and five other unrelated companies that sell water filtration systems (the “ITC Action”). The complaint in the ITC Action also alleged patent infringement by the Company with respect to a limited set of PUR gravity-fed water filtration systems. In the ITC Action, Brita LP requested the ITC to initiate an unfair import investigation relating to such filtration systems. This action sought injunctive relief to prevent entry of certain accused PUR products (and certain other products) into the U.S. and cessation of marketing and sales of existing inventory already in the U.S. On January 25, 2022, the ITC instituted the investigation requested by the ITC Action. Discovery closed in the ITC Action in May 2022, and approximately half of the originally identified PUR gravity-fed water filters were removed from the case and are no longer included in the ITC Action. In August 2022, the parties participated in the evidentiary hearing, with additional supplemental hearings in October 2022. On February 28, 2023, the ITC issued an Initial Determination in the ITC Action, tentatively ruling against the Company and the other unrelated respondents. The ITC has a guaranteed review process, and thus all respondents, including the Company, filed a petition with the ITC for a full review of the Initial Determination. On September 19, 2023, the ITC issued its Final Determination in the Company’s favor. The ITC determined there was no violation by the Company and terminated the investigation. Brita LP subsequently appealed the ITC’s decision to the Federal Circuit (“CAFC Appeal”) and filed its Notice of Appeal on October 24, 2023. The Company intervened in the CAFC Appeal and oral argument occurred on August 5, 2025.

In connection with the CAFC Appeal, on October 15, 2025, the Federal Circuit issued a precedential opinion affirming the ITC’s decision that Brita LP’s claims were invalid. Following the ITC’s determinations with respect to the ITC Action and the Federal Circuit’s opinion in the CAFC Appeal, on December 22, 2025, Brita filed a notice to dismiss the Patent Litigation in the District Court. We expect the Court’s order dismissing the case in due course.

Regulatory Matters

During fiscal 2022 and 2023, we were in discussions with the U.S. Environmental Protection Agency (the “EPA”) regarding the compliance of packaging claims on certain of our products in the air and water
filtration categories and a limited subset of humidifier products within the Beauty & Wellness segment that are sold in the U.S. The EPA did not raise any product quality, safety or performance issues. As a result of these packaging compliance discussions, we voluntarily implemented a temporary stop shipment action on the impacted products as we worked with the EPA towards an expedient resolution. We resumed normalized levels of shipping of the affected inventory during fiscal 2022, and we completed the repackaging and relabeling of our existing inventory of impacted products during fiscal 2023. Additionally, as a result of continuing dialogue with the EPA, we executed further repackaging and relabeling plans on certain additional humidifier products and certain additional air filtration products, which were also completed during fiscal 2023. Ongoing settlement discussions with the EPA related to this matter may result in the imposition of fines or penalties in the future. Such potential fines or penalties cannot be reasonably estimated. For additional information refer to Part I, Item 2., “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” including “EPA Compliance Costs.”
v3.25.4
Long-Term Debt
 9 Months Ended
Nov. 30, 2025
Debt Disclosure [Abstract]  
Long-Term Debt
Note 10 - Long-Term Debt

A summary of our long-term debt follows:
(in thousands)November 30, 2025February 28, 2025
Credit Agreement (1):
Revolving loans$415,499 $678,100 
Term loans482,032 243,750 
Total borrowings under Credit Agreement897,531 921,850 
Unamortized prepaid financing fees(5,138)(4,956)
Total long-term debt892,393 916,894 
Less: current maturities of long-term debt(23,438)(9,375)
Long-term debt, excluding current maturities$868,955 $907,519 
(1)The weighted average interest rates on borrowings outstanding under the Credit Agreement (defined below) inclusive of the impact of our interest rate swaps as of November 30, 2025 and February 28, 2025 were 5.8% and 5.6%, respectively.

Credit Agreement

On February 15, 2024, we entered into a credit agreement (the “Credit Agreement”) with Bank of America, N.A., as administrative agent, and other lenders that provides for aggregate commitments of $1.5 billion, which are available through (i) a $1.0 billion revolving credit facility, which includes a $50 million sublimit for the issuance of letters of credit, (ii) a $250 million term loan facility, and (iii) a committed $250 million delayed draw term loan facility, which permitted multiple drawdowns until August 15, 2025. Proceeds can be used for working capital and other general corporate purposes, including funding permitted acquisitions. At the closing date, February 15, 2024, we borrowed $457.5 million under the revolving credit facility and $250.0 million under the term loan facility and utilized the proceeds to repay all debt outstanding under our prior credit agreement. During the first quarter of fiscal 2026, we borrowed $250.0 million under the delayed draw term loan facility and utilized the proceeds to repay debt outstanding under the revolving credit facility. During the first quarter of fiscal 2026, we capitalized $0.4 million of lender fees and a de minimis amount of third-party fees incurred in connection with the delayed draw term loan facility borrowing, which were recorded as prepaid financing fees in long-term debt. The Credit Agreement matures on February 15, 2029. The Credit Agreement includes an accordion feature, which permits the Company to request to increase its borrowing capacity by an additional $300 million plus an unlimited amount when the Leverage Ratio (as defined in the Credit Agreement) on a pro-forma basis is less than 3.25 to 1.00. The term loans are payable at the end of each fiscal quarter in equal installments of 0.625% through February 28, 2025, 0.9375% through February 28, 2026, and 1.25% thereafter of the original principal balance of the term loans, which began in the first quarter of fiscal 2025 for the term loan facility and began in the second quarter of fiscal 2026 for the delayed draw term loan facility, with the remaining balance due at the maturity date. Borrowings under the Credit Agreement bear
floating interest at either the Base Rate or Term SOFR (as defined in the Credit Agreement), plus a margin based on the Net Leverage Ratio (as defined in the Credit Agreement) of 0% to 1.125% and 1.0% to 2.125% for Base Rate and Term SOFR borrowings, respectively.

The floating interest rates on our borrowings under the Credit Agreement are hedged with interest rate swaps to effectively fix interest rates on $625 million and $550 million of the outstanding principal balance under the Credit Agreement as of November 30, 2025 and February 28, 2025, respectively. See Notes 11, 12, and 13 for additional information regarding our interest rate swaps.

In connection with the acquisition of Olive & June, we provided notice of a Qualified Acquisition (as defined in the Credit Agreement) and borrowed $235.0 million under our Credit Agreement to fund the acquisition initial cash consideration. The exercise of the Qualified Acquisition notice triggered temporary adjustments to the maximum Leverage Ratio, which was 3.50 to 1.00 before the impact of the qualified acquisition notice. As a result of the Qualified Acquisition notice, commencing at the beginning of our fourth quarter of fiscal 2025, the maximum Leverage Ratio was 4.50 to 1.00 through November 30, 2025. For additional information on the acquisition, see Note 4.

On November 25, 2025, we entered into an amendment to the Credit Agreement (the “Amendment”), which provides for the following:
•Reduces the commitment under the revolving credit facility from $1.0 billion to $750.0 million;
•Adds a maximum tier level pursuant to which, if the Net Leverage Ratio is greater than or equal to 4.00 to 1.00, then borrowings under the Credit Agreement bear floating interest at either the Base Rate or Term SOFR, plus a margin of 1.375% and 2.375% for Base Rate and Term SOFR borrowings, respectively, plus a credit spread of 0.10% for Term SOFR borrowings;
•Amends the minimum Interest Coverage Ratio financial covenant to replace the numerator with a Consolidated EBITDA measure instead of a Consolidated EBIT measure (as those terms are defined in the Credit Agreement);
•Amends the maximum Leverage Ratio financial covenant so that it is not permitted to be greater than as set forth below as of the end of the fiscal quarter:
Fiscal Quarter Ending
Maximum
Leverage Ratio
November 30, 2025
4.50 to 1.00
February 28, 2026 through August 31, 2026
4.50 to 1.00
November 30, 2026
4.00 to 1.00
February 28, 2027 through May 31, 2027
3.75 to 1.00
August 31, 2027 and each fiscal quarter thereafter
3.50 to 1.00
We may elect to use the Leverage Holiday (as defined in the Credit Agreement) in connection with the consummation of a Qualified Acquisition after August 31, 2027, if we are in compliance with the terms of the Credit Agreement and meet the other terms and conditions relating to a Qualified Acquisition.
•Until August 31, 2027, the following negative covenants are reduced, as described in the Amendment, a general investments basket, an unsecured indebtedness basket and the Permitted Receivables Financings (as defined in the Credit Agreement) basket.

In connection with the Amendment, we recognized a $0.9 million charge within interest expense to write-off unamortized prepaid financing fees related to the revolver due to the reduced commitment and capitalized $1.0 million of lender and third-party fees during the third quarter of fiscal 2026, which were recorded as prepaid financing fees in long-term debt.
As of November 30, 2025, the balance of outstanding letters of credit was $9.5 million, the amount available for revolving loans under the Credit Agreement, as amended, was $334.5 million and the amount available per the maximum Leverage Ratio was $135.6 million. Covenants in the Credit Agreement, as amended, limit the amount of total indebtedness we can incur. As of November 30, 2025, these covenants effectively limited our ability to incur more than $135.6 million of additional debt from all sources, including the Credit Agreement, as amended.

Debt Covenants

As of November 30, 2025, we were in compliance with all covenants as defined under the terms of the Credit Agreement, as amended.
v3.25.4
Fair Value
 9 Months Ended
Nov. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value
Note 11 - Fair Value

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Valuation techniques under the accounting guidance related to fair value measurements are based on observable and unobservable inputs. These inputs are classified into the following hierarchy:

Level 1:Quoted prices for identical assets or liabilities in active markets;

Level 2:Observable inputs other than quoted prices that are directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets; quoted prices for similar or identical assets or liabilities in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable; and

Level 3:Unobservable inputs that reflect the reporting entity’s own assumptions.

Recurring Fair Value Measurements

All of our financial assets and liabilities, except for our investments in U.S. Treasury Bills and our contingent consideration liability, are classified as Level 2 because their valuation is dependent on observable inputs and other quoted prices for similar assets or liabilities, or model-derived valuations whose significant value drivers are observable. Our investments in U.S. Treasury Bills are classified as Level 1 because their value is based on quoted prices in active markets for identical assets. Our contingent consideration liability is classified as Level 3 because its valuation is primarily based on a significant input unobservable in the market, specifically, projected adjusted EBITDA derived from internal forecasts.
The following table presents the fair value of our financial assets and liabilities:
 
Fair Value
(in thousands)November 30, 2025February 28, 2025
Assets: 
Cash equivalents (money market accounts)$3,523 $3,852 
U.S. Treasury Bills
11,694 11,268 
Interest rate swaps363 1,065 
Foreign currency derivatives1,059 2,163 
Total assets$16,639 $18,348 
  
Liabilities: 
Interest rate swaps$288 $221 
Contingent consideration
4,800 4,100 
Foreign currency derivatives2,877 119 
Total liabilities$7,965 $4,440 

All of our financial assets and liabilities, except for our investments in U.S. Treasury Bills, are measured and recorded at fair value on a recurring basis. Our investments in U.S. Treasury Bills are recorded at amortized cost. As of November 30, 2025 and February 28, 2025, the current carrying amounts of our U.S. Treasury Bills were $2.6 million and $2.5 million, respectively, and were included within prepaid expenses and other current assets in our condensed consolidated balance sheets. As of November 30, 2025 and February 28, 2025, the non-current carrying amounts of our U.S. Treasury Bills were $8.9 million and $8.7 million, respectively, and were included within other assets in our condensed consolidated balance sheets.

The carrying amounts of cash and cash equivalents, accounts payable, accrued expenses and other current liabilities and income taxes receivable and payable approximate fair value because of the short maturity of these items. The carrying amounts of receivables approximate fair value due to the effect of the related allowance for credit losses. The carrying amount of our floating rate long-term debt approximates its fair value.

Our investments in U.S. Treasury Bills are classified as held-to-maturity because we have the positive intent and ability to hold the securities to maturity. We invest in U.S. Treasury Bills with maturities ranging from one to five years. As of both November 30, 2025 and February 28, 2025, gross unrealized gains were $0.1 million and losses were not material. During the three and nine months ended November 30, 2025, we recognized interest income on these investments of $0.1 million and $0.4 million, respectively, which is included in “Non-operating income, net” in our condensed consolidated statements of (loss) income. During the three and nine months ended November 30, 2024, we recognized interest income on these investments of $0.1 million and $0.2 million, respectively.

We use foreign currency forward contracts to manage our exposure to changes in foreign currency exchange rates. In addition, we use interest rate swaps to manage our exposure to changes in interest rates. All of our derivative assets and liabilities are recorded at fair value. See Notes 12 and 13 for more information on our derivatives.

In connection with the acquisition of Olive & June in December 2024, we recognized contingent consideration, as a result of the total purchase consideration including contingent cash consideration of up to $15.0 million payable annually in three equal installments subject to Olive & June achieving certain adjusted EBITDA targets during calendar years 2025, 2026 and 2027. If the annual adjusted EBITDA target is not met, no payment is required. As of the acquisition date, we recorded a liability for the
estimated fair value of the contingent consideration of $4.1 million, of which $1.8 million and $2.3 million was included within accrued expenses and other current liabilities and other liabilities, non-current, respectively, in our condensed consolidated balance sheet. This contingent consideration liability is remeasured at fair value each reporting period until the contingency is resolved, with changes in fair value recognized in SG&A. As of November 30, 2025, the estimated fair value of the contingent consideration liability was $4.8 million, of which $4.4 million and $0.4 million was included within accrued expenses and other current liabilities and other liabilities, non-current, respectively, in our condensed consolidated balance sheet. This increase of $0.7 million from the acquisition date fair value was recognized in SG&A during the third quarter of fiscal 2026. The fair value of the contingent consideration liability was determined using a Monte Carlo simulation model, which utilizes projected adjusted EBITDA and corresponding volatility and discount rates to estimate the probability of the adjusted EBITDA targets being achieved. The projected adjusted EBITDA during the earn-out period was derived from internal forecasts and represents a Level 3 input, and was discounted using an estimated discount rate of 14% and 13% as of November 30, 2025 and February 28, 2025, respectively. Adjusted EBITDA volatility was calculated based upon peer companies, and the third quartile of 47% and 33% was selected as a key input into the Monte Carlo simulation model as of November 30, 2025 and February 28, 2025, respectively. In the simulated scenarios where a payment is earned, the projected contingent payments were discounted using an estimated credit risk discount rate of 6.9% and 6.5%, as of November 30, 2025 and February 28, 2025, respectively. Changes in these inputs may result in a significant increase or decrease in the fair value of the contingent consideration liability with a corresponding impact to SG&A.

Level 3 Fair Value Measurements

The following table presents the changes in our Level 3 contingent consideration liability:

Three Months Ended November 30,Nine Months Ended November 30,
(in thousands)2025202420252024
Balance at beginning of period
$4,100 $— $4,100 $— 
Changes in fair value (1)
700 — 700 — 
Balance at end of period
$4,800 $— $4,800 $— 
(1) Reflects an increase in the estimated fair value of our contingent consideration liability, which was recognized in SG&A during the three and nine months ended November 30, 2025.

Non-Recurring Fair Value Measurements

Assets remeasured to fair value on a non-recurring basis during the nine months ended November 30, 2025 represent goodwill, indefinite-lived intangible assets and definite-lived intangible assets, which were impaired. We did not remeasure any assets to fair value on a non-recurring basis during the nine months ended November 30, 2024.

The following table presents the remaining carrying value of the assets that were remeasured to fair value on a non-recurring basis:
Fair Value Measurements
Fiscal 2026 Asset Impairment Charges
(in thousands)
November 30, 2025
Level 1Level 2Level 3
Goodwill$530,186 $— $— $530,186 $648,600 
Indefinite-lived intangible assets
264,600 — — 264,600 97,000 
Definite-lived intangible assets
133,927 — — 133,927 61,085 
Total$928,713 $— $— $928,713 $806,685 
During the nine months ended November 30, 2025, our impairment testing resulted in impairment charges of $648.6 million, $97.0 million and $61.1 million to reduce the carrying values of our goodwill, indefinite-lived intangible assets and definite-lived intangible assets, respectively, to their estimated fair values of $530.2 million, $264.6 million and $133.9 million, respectively. Refer to Note 5 for additional information on the assets impaired and their remaining carrying values as of November 30, 2025.

We estimate the fair value of our reporting units using an income approach based upon projected future DCF Model. Under the DCF Model, the fair value of each reporting unit is determined based on the present value of estimated future cash flows, discounted at a risk-adjusted rate of return. We use internal forecasts and strategic long-term plans to estimate future cash flows, including net sales revenue, gross profit margin, and earnings before interest and taxes margins. Other key estimates used in the DCF Model include, but are not limited to, discount rates, statutory tax rates, terminal growth rates, as well as working capital and capital expenditures needs. The discount rates are based on a weighted-average cost of capital utilizing industry market data of our peer group companies. Accordingly, this fair value measurement is classified as Level 3 since it is based primarily upon unobservable inputs that reflect management’s assumptions.

We estimate the fair value of our trade names and trademark licenses using the relief from royalty method income approach which is based upon a DCF Model. The relief-from-royalty method estimates the fair value of a trade name or trademark license by discounting the hypothetical avoided royalty payments to their present value over the economic life of the asset. We estimate the fair value of our customer relationships and lists using the distributor method income approach which is based upon a DCF Model. The distributor method uses financial margin information for distributors within the applicable industry and most representative of the Company to estimate a royalty rate. The determination of fair value using these methods entails a significant number of estimates and assumptions, which require management judgment, and include net sales revenue growth rates, discount rates, royalty rates, residual growth rates (as applicable) and customer attrition rates (as applicable). We use internal forecasts and strategic long-term plans to estimate net sales revenue growth rates and royalty rates. We utilize a constant growth model to determine the residual growth rates which are based upon long-term industry growth expectations and long-term expected inflation. Accordingly, this fair value measurement is classified as Level 3 since it is based primarily upon unobservable inputs that reflect management’s assumptions. The most significant unobservable input (Level 3) used to estimate the fair value of our indefinite-lived intangible assets and our definite-lived intangible assets as of November 30, 2025 was a royalty rate that ranged from 0.3% to 5.5%.

For additional information regarding the testing and analysis performed, refer to Note 5 and “Critical Accounting Policies and Estimates” in Item 2., “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”
v3.25.4
Financial Instruments and Risk Management
 9 Months Ended
Nov. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Financial Instruments and Risk Management
Note 12 - Financial Instruments and Risk Management

Foreign Currency Risk

The U.S. Dollar is the functional currency for the Company and all of its subsidiaries and is also the reporting currency for the Company. By operating internationally, we are subject to foreign currency risk from transactions denominated in currencies other than the U.S. Dollar (“foreign currencies”). Such transactions include sales and operating expenses. As a result of such transactions, portions of our cash, accounts receivable and accounts payable are denominated in foreign currencies. Approximately 14% and 15% of our net sales revenue was denominated in foreign currencies during the three and nine months ended November 30, 2025, respectively, compared to 14% for both periods last year, respectively. These sales were primarily denominated in Euros, British Pounds and Canadian Dollars.
We make most of our inventory purchases from manufacturers in Asia and primarily use the U.S. Dollar for such purchases.

In our condensed consolidated statements of (loss) income, foreign currency exchange rate gains and losses resulting from the remeasurement of foreign income tax receivables and payables and deferred income tax assets and liabilities are recognized in income tax (benefit) expense, and all other foreign currency exchange rate gains and losses are recognized in SG&A. During the three and nine months ended November 30, 2025, we recorded foreign currency exchange rate net losses of $0.7 million and gains of $8.8 million, respectively, in income tax expense, compared to net losses of $0.5 million and $0.8 million for the same periods last year, respectively. During the three and nine months ended November 30, 2025, we recorded foreign currency exchange rate net losses of $0.3 million and net gains of $1.8 million, respectively, in SG&A, compared to net losses of $1.4 million and $0.8 million for the same periods last year, respectively. We mitigate certain foreign currency exchange rate risk by using forward contracts to protect against the foreign currency exchange rate risk inherent in our transactions denominated in foreign currencies. We do not enter into any derivatives or similar instruments for trading or other speculative purposes. Certain of our forward contracts are designated as cash flow hedges (“foreign currency contracts”) and are recorded on the balance sheet at fair value with changes in fair value recorded in Other Comprehensive Income (Loss) (“OCI”) until the hedge transaction is settled, at which point amounts are reclassified from Accumulated Other Comprehensive (Loss) Income (“AOCI”) to our condensed consolidated statements of (loss) income. Foreign currency derivatives for which we have not elected hedge accounting consist of certain forward contracts, and any changes in the fair value of these derivatives are recorded in our condensed consolidated statements of (loss) income. These undesignated derivatives are used to hedge monetary net asset and liability positions. Cash flows from our foreign currency derivatives are classified as cash flows from operating activities in our condensed consolidated statements of cash flows, which is consistent with the classification of the cash flows from the underlying hedged item. We evaluate our derivatives designated as cash flow hedges each quarter to assess hedge effectiveness.

Interest Rate Risk

Interest on our outstanding debt as of November 30, 2025 and February 28, 2025 is based on floating interest rates. If short-term interest rates increase, we will incur higher interest expense on any future outstanding balances of floating rate debt. Floating interest rates are hedged with interest rate swaps to effectively fix interest rates on a portion of our outstanding principal balance under the Credit Agreement, which totaled $897.5 million and $921.9 million as of November 30, 2025 and February 28, 2025, respectively. As of November 30, 2025 and February 28, 2025, $625 million and $550 million of the outstanding principal balance under the Credit Agreement, respectively, was hedged with interest rate swaps to fix the interest rate we pay. Our interest rate swaps are designated as cash flow hedges and are recorded on the balance sheet at fair value with changes in fair value recorded in OCI until the hedge transaction is settled, at which point amounts are reclassified from AOCI to our condensed consolidated statements of (loss) income. Cash flows from our interest rate swaps are classified as cash flows from operating activities in our condensed consolidated statements of cash flows, which is consistent with the classification of the cash flows from the underlying hedged item. We evaluate our derivatives designated as cash flow hedges each quarter to assess hedge effectiveness.
The following tables summarize the fair values of our derivative instruments as of the end of the periods presented:
(in thousands)November 30, 2025

Derivatives designated as hedging instruments		Hedge
Type		Final
Settlement Date		Notional AmountPrepaid
Expenses
and Other
Current Assets		Other AssetsAccrued
Expenses
and Other
Current Liabilities		Other
Liabilities, Non- Current
Forward contracts - sell EuroCash flow8/2027€81,600 $261 $366 $1,885 $35 
Forward contracts - sell Canadian DollarsCash flow2/2027$37,100 97 56 133 23 
Forward contracts - sell PoundsCash flow12/2027£36,650 27 179 586 174 
Forward contracts - sell Norwegian KronerCash flow2/2027kr38,000 41 10 38 3 
Interest rate swaps (1)
Cash flow8/2027$725,000 329 34 252 36 
Subtotal   755 645 2,894 271 
Derivatives not designated under hedge accounting       
Forward contracts - sell Euro
(2)12/2025€5,020 — — — — 
Forward contracts - buy Pounds
(2)12/2025£2,200 22 — — — 
Subtotal   22 — — — 
Total fair value$777 $645 $2,894 $271 
(in thousands)February 28, 2025

Derivatives designated as hedging instruments		Hedge TypeFinal
Settlement Date		Notional AmountPrepaid
Expenses
and Other
Current Assets		Other AssetsAccrued
Expenses
and Other
Current Liabilities		Other
Liabilities Non- Current
Forward contracts - sell EuroCash flow2/2026€35,000 $1,266 $— $— $— 
Forward contracts - sell Canadian DollarsCash flow2/2026$8,000 38 — — — 
Forward contracts - sell PoundsCash flow2/2026£24,950 788 — 99 — 
Forward contracts - sell Norwegian KronerCash flow8/2025kr10,000 71 — — — 
Interest rate swapsCash flow8/2026$550,000 763 302 221 — 
Subtotal   2,926 302 320 — 
Derivatives not designated under hedge accounting       
Forward contracts - sell Euro
(2)3/2025€680 — — 2 — 
Forward contracts - sell Pounds
(2)3/2025£1,280 — — 18 — 
Subtotal   — — 20 — 
Total fair value   $2,926 $302 $340 $— 
(1)Includes a forward-starting interest rate swap agreement with a notional amount of $100 million that becomes effective on March 1, 2026.
(2)These forward contracts, for which we have not elected hedge accounting, hedge monetary net asset and liability positions for the notional amounts reported, creating an economic hedge against currency movements.
The pre-tax effects of derivative instruments designated as cash flow hedges were as follows for the periods presented:
 Three Months Ended November 30,
 
Gain (Loss)
Recognized in AOCI
Gain (Loss) Reclassified
from AOCI into Income
(in thousands)20252024Location20252024
Foreign currency contracts - cash flow hedges$3,644 $3,607 Sales revenue, net$(2,034)$(4)
Interest rate swaps - cash flow hedges174 3,788 Interest expense736 1,262 
Total$3,818 $7,395  $(1,298)$1,258 

Nine Months Ended November 30,
Gain (Loss)
Recognized in AOCI		Gain (Loss) Reclassified
from AOCI into Income
(in thousands)20252024Location20252024
Foreign currency contracts - cash flow hedges$(8,431)$2,182 Sales revenue, net$(4,527)$(13)
Interest rate swaps - cash flow hedges2,044 2,545 Interest expense2,813 3,311 
Total$(6,387)$4,727  $(1,714)$3,298 

The pre-tax effects of derivative instruments not designated under hedge accounting were as follows for the periods presented:
 Gain (Loss) 
Recognized in Income
Three Months Ended November 30,Nine Months Ended November 30,
(in thousands)Location2025202420252024
Forward contractsSG&A$(96)$(67)$(601)$21 
Total $(96)$(67)$(601)$21 

We expect a net loss of $2.1 million associated with foreign currency contracts and interest rate swaps currently recorded in AOCI to be reclassified into income over the next twelve months. The amount ultimately realized, however, will differ as exchange rates and interest rates change and the underlying contracts settle. See Notes 11 and 13 for more information.

Counterparty Credit Risk

Financial instruments, including foreign currency contracts, forward contracts and interest rate swaps, expose us to counterparty credit risk for non-performance. We manage our exposure to counterparty credit risk by only dealing with counterparties who are substantial international financial institutions with significant experience using such derivative instruments. We believe that the risk of incurring credit losses is remote.
v3.25.4
Accumulated Other Comprehensive Income (Loss)
 9 Months Ended
Nov. 30, 2025
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent [Abstract]  
Accumulated Other Comprehensive Income (Loss)
Note 13 - Accumulated Other Comprehensive Income (Loss)

The changes in AOCI by component and related tax effects for the periods presented were as follows:
(in thousands)Interest
Rate Swaps		Foreign
Currency
Contracts		Total
Balance at February 29, 2024$1,917 $182 $2,099 
Other comprehensive income before reclassification
2,545 2,182 4,727 
Amounts reclassified out of AOCI(3,311)13 (3,298)
Tax effects179 (464)(285)
Other comprehensive (loss) income
(587)1,731 1,144 
Balance at November 30, 2024$1,330 $1,913 $3,243 
Balance at February 28, 2025$646 $1,632 $2,278 
Other comprehensive income (loss) before reclassification
2,044 (8,431)(6,387)
Amounts reclassified out of AOCI(2,813)4,527 1,714 
Tax effects179 812 991 
Other comprehensive loss
(590)(3,092)(3,682)
Balance at November 30, 2025$56 $(1,460)$(1,404)
See Notes 11 and 12 for additional information regarding our cash flow hedges.
v3.25.4
Segment and Geographic Information
 9 Months Ended
Nov. 30, 2025
Segment Reporting [Abstract]  
Segment and Geographic Information
Note 14 - Segment and Geographic Information

Segment Information

We operate through two strategic business divisions, each comprised of operating segments organized by our brands and product lines. Operating segments with similar economic and qualitative characteristics are aggregated into our two reportable segments, which align with our strategic business divisions. Our two reportable segments consist of Home & Outdoor and Beauty & Wellness. For additional information on our segments refer to Note 1.

Segment financial information is prepared in accordance with GAAP and our significant accounting policies described in Note 1 of our Form 10-K. Resources are allocated and performance is assessed using segment operating income by our Chief Executive Officer, whom we have determined to be our Chief Operating Decision Maker (“CODM”). Our CODM utilizes segment operating income when making decisions about allocating capital and personnel to the segments, predominantly in the annual budget and quarterly forecasting processes. In addition, our CODM uses operating income, including comparison of actual results to budget and forecast, in assessing the performance of each segment and in evaluating product pricing, distribution strategies and marketing investments. Our CODM reviews balance sheet information at a consolidated level. We compute segment operating income based on net sales revenue, less cost of goods sold, SG&A, asset impairment charges and restructuring charges. The SG&A used to compute each segment’s operating income is directly associated with the segment, plus shared services and corporate overhead expenses that are allocable to the segment. We do not allocate non-operating income and expense, including interest or income taxes, to operating segments.
The following tables summarize reportable segment information with a reconciliation to our condensed consolidated results for the periods presented:
Three Months Ended November 30, 2025
(in thousands)Home & OutdoorBeauty & Wellness (1)Total
Sales revenue, net$229,637 $283,192 $512,829 
Less: (2)
Cost of goods sold117,355 155,130 272,485 
Operating expense (3)
112,354 136,360 248,714 
Operating loss
$(72)$(8,298)$(8,370)
Non-operating income, net211 
Interest expense15,855 
Loss before income tax
$(24,014)
Three Months Ended November 30, 2024
(in thousands)Home & OutdoorBeauty & WellnessTotal
Sales revenue, net$246,109 $284,597 $530,706 
Less: (2)
Cost of goods sold115,438 155,940 271,378 
Operating expense (3)
90,358 93,852 184,210 
Operating income$40,313 $34,805 $75,118 
Non-operating income, net198 
Interest expense12,164 
Income before income tax$63,152 
Nine Months Ended November 30, 2025
(in thousands)Home & OutdoorBeauty & Wellness (1)Total
Sales revenue, net$616,341 $699,924 $1,316,265 
Less: (2)
Cost of goods sold315,884 394,345 710,229 
Operating expense (3)
586,900 750,261 1,337,161 
Operating loss
$(286,443)$(444,682)$(731,125)
Non-operating income, net768 
Interest expense43,884 
Loss before income tax
$(774,241)
Nine Months Ended November 30, 2024
(in thousands)Home & OutdoorBeauty & WellnessTotal
Sales revenue, net$686,512 $735,262 $1,421,774 
Less: (2)
Cost of goods sold327,305 415,992 743,297 
Operating expense (3)
271,892 265,852 537,744 
Operating income$87,315 $53,418 $140,733 
Non-operating income, net468 
Interest expense37,923 
Income before income tax$103,278 
(1)The three and nine months ended November 30, 2025 include a full three and nine months, respectively, of operating results from Olive & June, acquired on December 16, 2024. For additional information see Note 4.
(2)These significant expense categories and amounts align with the reportable segment information that is regularly provided to the CODM.
(3)Operating expense for both reportable segments includes SG&A expense. Operating expense during the three and nine months ended November 30, 2025 includes asset impairment charges of $65.9 million and $806.7 million, respectively, of which $24.0 million and $328.6 million was recognized in our Home & Outdoor segment, respectively, and $41.9 million and $478.1 million was recognized in our Beauty & Wellness segment, respectively. Operating expense during the nine months ended November 30, 2025 and three and nine months ended November 30, 2024 also includes restructuring charges. See Note 5 for further information on the asset impairment charges.

The following tables summarize reportable segment information for the periods presented:
Three Months Ended November 30, 2025
(in thousands)Home & OutdoorBeauty & Wellness (1)Total
Capital and intangible asset expenditures$2,159 $4,015 $6,174 
Depreciation and amortization6,075 6,762 12,837 
Non-cash share-based compensation2,013 3,017 5,030 
Asset impairment charges
24,000 41,906 65,906 

Three Months Ended November 30, 2024
(in thousands)Home & OutdoorBeauty & WellnessTotal
Capital and intangible asset expenditures$2,976 $5,153 $8,129 
Depreciation and amortization6,336 6,886 13,222 
Non-cash share-based compensation2,476 2,254 4,730 

Nine Months Ended November 30, 2025
(in thousands)Home & OutdoorBeauty & Wellness (1)Total
Capital and intangible asset expenditures$16,049 $14,957 $31,006 
Depreciation and amortization18,674 21,107 39,781 
Non-cash share-based compensation6,295 8,403 14,698 
Asset impairment charges
328,632 478,053 806,685 

Nine Months Ended November 30, 2024
(in thousands)Home & OutdoorBeauty & WellnessTotal
Capital and intangible asset expenditures$10,443 $11,712 $22,155 
Depreciation and amortization19,573 21,277 40,850 
Non-cash share-based compensation8,303 7,747 16,050 
(1)The three and nine months ended November 30, 2025 include a full three and nine months, respectively, of operating results from Olive & June, acquired on December 16, 2024. For additional information see Note 4.

Geographic Information

The following table presents net sales revenue by geographic region, in U.S. Dollars:
Three Months Ended November 30,Nine Months Ended November 30,
(in thousands)2025202420252024
Domestic sales revenue, net (1)
$393,267 76.7 %$400,539 75.5 %$1,001,723 76.1 %$1,066,969 75.0 %
International sales revenue, net119,562 23.3 %130,167 24.5 %314,542 23.9 %354,805 25.0 %
Total sales revenue, net$512,829 100.0 %$530,706 100.0 %$1,316,265 100.0 %$1,421,774 100.0 %
(1)Domestic net sales revenue includes net sales revenue from the U.S. and Canada.
v3.25.4
Income Taxes
 9 Months Ended
Nov. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes
Note 15 - Income Taxes

We reorganized the Company in Bermuda in 1994, and many of our foreign subsidiaries are not directly or indirectly owned by a U.S. parent. As such, a significant portion of our foreign income is not subject to U.S. taxation on a permanent basis under current law. Additionally, our intangible assets are primarily owned by foreign affiliates, resulting in proportionally higher earnings in jurisdictions with statutory tax rates lower than the U.S. Taxable income in each jurisdiction, whether U.S. or foreign, is determined by the subsidiary’s operating results as well as applicable transfer pricing and tax regulations.

In July 2025, a reconciliation bill, commonly referred to as the One Big Beautiful Bill Act, was signed into law. The legislation includes a broad range of U.S. tax reform provisions. There were no discrete effects in the second quarter of fiscal 2026, and we do not expect a material impact on our fiscal 2026 consolidated financial statements.

The Organisation for Economic Co-operation and Development (“OECD”) has introduced a framework to implement a global minimum corporate income tax of 15%, referred to as “Pillar Two.” Certain countries in which we operate have enacted, or are in process of enacting, domestic legislation aligned with OECD’s Pillar Two “Model Rules.” Pillar Two legislation in effect for our fiscal 2025 and 2026 has been incorporated into our financial statements.

In June 2025, the Group of Seven, comprised of Canada, France, Germany, Italy, Japan, the United Kingdom and the U.S., announced an agreement under which U.S. multinational companies would be excluded from certain elements of the Pillar Two global minimum tax rules in exchange for the U.S. withdrawing planned retaliatory tax measures. This agreement has not yet been formally incorporated into the OECD Pillar Two Model Rules. We will continue to monitor the potential implications of this development, as it may influence the broader application of the Pillar Two Model Rules globally.

In the fourth quarter of fiscal 2025, we implemented a reorganization involving the transfer of intangible assets previously held by Helen of Troy Limited (Barbados) to our subsidiary in Switzerland. The reorganization resulted in the consolidation of the ownership of intangible assets, supporting streamlined internal licensing and centralized management of the intangible assets. Further, the reorganization resulted in a transitional income tax benefit of $64.6 million from the recognition of a deferred tax asset of $74.0 million, partially offset by taxes associated with the transfer. As described below, a full valuation allowance has been recorded on this deferred tax asset as of the end of the third quarter of fiscal 2026.

In response to Pillar Two, on May 24, 2024, Barbados enacted a domestic corporate income tax rate of 9%, effective for our fiscal 2025 and a domestic minimum top-up tax (“DMTT”) of 15% which was effective beginning with our fiscal 2026. During the first quarter of fiscal 2025, we incorporated the corporate income tax into our estimated annual effective tax rate and revalued our existing deferred tax liabilities subject to the Barbados legislation, which resulted in a discrete tax charge of $6.0 million. However, as a result of the reorganization of our intangible assets described above, the Barbados corporate income tax and DMTT will not have a material impact on our condensed consolidated financial statements beginning in fiscal 2026.

Like Barbados, the government of Bermuda enacted a 15% corporate income tax that was effective for us beginning in fiscal 2026. This Bermuda tax will not have a material impact on our condensed consolidated financial statements.

We expect our fiscal 2026 effective tax rate, excluding discrete items and asset impairment charges described below and in Note 5, to increase relative to historical periods due to the impact of global tax reform initiatives, including the implementation of Pillar Two. As additional jurisdictions implement or
revise legislation in response to these reforms, we could experience further adverse impacts on our global effective tax rate.

For interim periods, our income tax expense and resulting effective tax rate are based on an estimated annual effective tax rate, adjusted for the impact of discrete items recognized in the period. Discrete items include changes in tax laws or rates, changes in estimates for uncertain tax positions, excess tax benefits or deficiencies from stock-based compensation, foreign currency remeasurement effects that are not reasonably estimable, and other infrequent or non-recurring items. Discrete items do not include the asset impairment charges described below and in Note 5.

During the three and nine months ended November 30, 2025, we recognized goodwill and other intangible asset impairment charges of $65.9 million and $806.7 million, respectively, which included $37.7 million and $548.7 million, respectively, of non-deductible goodwill that will not result in a tax benefit. The expected tax benefit, net of valuation allowances, of $15.5 million on the year-to-date impairment charges will be recognized over the course of the fiscal year in relation to pre-tax book income, rather than as a discrete item in the periods in which the charges were incurred.

The downward revisions to our internal forecasts utilized in our impairment testing during fiscal 2026 impacted our assessment of the realizability of net deferred tax assets for our Switzerland subsidiary as of the beginning of the fiscal year. Based on these revisions and in accordance with ASC 740, Income Taxes, we recorded discrete partial valuation allowances during the first and second quarters of fiscal 2026 and ultimately full valuation allowances of $34.8 million and $64.8 million for the three and nine months ended November 30, 2025, respectively. We expect to maintain a full valuation allowance on these net deferred tax assets until we have objective factors that demonstrate the likelihood of realizing these deferred tax benefits.

For the three months ended November 30, 2025, income tax expense was $60.0 million on a pre-tax loss of $24.0 million, compared to income tax expense of $13.5 million on pre-tax income of $63.2 million for the same period last year. The increase in tax expense relative to pre-tax income (loss) is primarily due to non-deductible impairment charges and valuation allowances on deferred tax assets recorded in the third quarter of fiscal 2026, as discussed above.

For the nine months ended November 30, 2025, income tax expense was $69.2 million on a pre-tax loss of $774.2 million, compared to income tax expense of $30.4 million on pre-tax income of $103.3 million for the same period last year. The increase in tax expense relative to pre-tax income (loss) is primarily due to non-deductible impairment charges and valuation allowances on deferred tax assets recorded during the nine months ended November 30, 2025, as discussed above.
v3.25.4
Earnings Per Share
 9 Months Ended
Nov. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share
Note 16 - Earnings Per Share

We compute basic earnings per share using the weighted average number of shares of common stock outstanding during the period. We compute diluted earnings per share using the weighted average number of shares of common stock outstanding plus the effect of dilutive securities. Dilutive securities at any given point in time may consist of outstanding options to purchase common stock and issued and contingently issuable unvested restricted stock units, performance stock units, restricted stock awards and performance restricted stock awards and other stock-based awards. Anti-dilutive securities are not included in the computation of diluted earnings per share under the treasury stock method. See Note 6 to these condensed consolidated financial statements for more information regarding stock-based awards.
The following table presents our weighted average basic and diluted shares outstanding for the periods shown:
 Three Months Ended November 30,Nine Months Ended November 30,
(in thousands)2025202420252024
Weighted average shares outstanding, basic23,035 22,853 22,979 23,064 
Incremental shares from share-based compensation arrangements— 29 — 54 
Weighted average shares outstanding, diluted (1)
23,035 22,882 22,979 23,118 
Anti-dilutive securities421 123 435 134 
(1)Due to the net loss for the three and nine months ended November 30, 2025, 145 thousand and 75 thousand incremental shares, respectively, from share-based compensation arrangements were excluded from the computation of diluted weighted average shares outstanding because their effect would be anti-dilutive.
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Nov. 30, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Basis of Presentation and Related Information (Policies)
 9 Months Ended
Nov. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Principles of Consolidation
Principles of Consolidation

The accompanying condensed consolidated financial statements are prepared in accordance with GAAP and include all of our subsidiaries. Our condensed consolidated financial statements are prepared in U.S. Dollars. All intercompany balances and transactions are eliminated in consolidation.

The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in our condensed consolidated financial statements and accompanying notes. Actual results may differ materially from those estimates.
Not Yet Adopted
Not Yet Adopted

In July 2025, the FASB issued ASU 2025-05, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, which permits entities to elect a practical expedient to assume current conditions as of the balance sheet date will not change for the remaining life of accounts receivable and contract assets when developing forecasts as part of estimating expected credit losses. The amendments in ASU 2025-05 are effective for fiscal years beginning after December 15, 2025, and interim periods within those fiscal years, with early adoption permitted. The amendments should be applied prospectively. This ASU will be effective for us in the first quarter of fiscal 2027. We are currently evaluating this practical expedient and do not expect it to have a material impact on our consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which removes all references to software development project stages and requires entities to start capitalizing software costs when both of the following occur: (i) management has authorized and committed to funding the software project and (ii) it is probable that the project will be completed and the software will be used to perform the function intended. The amendments in ASU 2025-06 are effective for fiscal years beginning after December 15, 2027, and interim periods within those fiscal years, with early adoption permitted as of the beginning of a fiscal year. The amendments can be applied prospectively, retrospectively, or via a modified prospective transition method. This ASU will be effective for us in the first quarter of fiscal 2029. We are currently evaluating the impact this guidance may have on our consolidated financial statements.
v3.25.4
Accrued Expenses and Other Current Liabilities (Tables)
 9 Months Ended
Nov. 30, 2025
Payables and Accruals [Abstract]  
Schedule of accrued expenses and other current liabilities
A summary of accrued expenses and other current liabilities was as follows:
(in thousands)November 30, 2025February 28, 2025
Accrued compensation, benefits and payroll taxes$31,422 $16,096 
Accrued sales discounts and allowances51,753 36,600 
Accrued sales returns22,583 20,190 
Accrued advertising32,951 25,716 
Other77,628 62,138 
Total accrued expenses and other current liabilities$216,337 $160,740 
v3.25.4
Acquisition of Olive & June (Tables)
 9 Months Ended
Nov. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of business acquisitions, by acquisition
The following table presents the preliminary estimated fair values of assets acquired and liabilities assumed at the acquisition date:
(in thousands)
Assets:
Receivables$13,182 
Inventory15,121 
Prepaid expenses and other current assets3,920 
Property and equipment1,490 
Goodwill150,726 
Trade names - definite51,000 
Customer relationships - definite8,000 
Other intangible assets - definite1,600 
Other assets275 
Total assets245,314 
Liabilities:
Accounts payable5,614 
Accrued expenses and other current liabilities12,731 
Other liabilities, non-current2,300 
Total liabilities20,645 
Net assets recorded$224,669 
v3.25.4
Goodwill and Intangibles (Tables)
 9 Months Ended
Nov. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of impaired intangible assets
Based on the outcome of these assessments, we recognized pre-tax asset impairment charges as follows:
(in thousands)Three Months Ended
November 30, 2025		Nine Months Ended
November 30, 2025
Home & Outdoor (1)
$24,000 $328,632 
Beauty & Wellness (2)
41,906 478,053 
Total
$65,906 $806,685 
(1)Asset impairment charges recognized for our Home & Outdoor segment included charges for our Hydro Flask and Osprey businesses of $15.0 million and $9.0 million, respectively, for the three months ended November 30, 2025 and $180.5 million and $148.1 million, respectively, for the nine months ended November 30, 2025.
(2)Asset impairment charges recognized for our Beauty & Wellness segment included charges for our Health & Wellness, Drybar and Curlsmith businesses of $10.7 million, $3.1 million and $28.2 million, respectively, for the three months ended November 30, 2025 and for our Health & Wellness, Drybar, Curlsmith and Revlon businesses of $207.3 million, $154.5 million, $92.8 million and $23.5 million, respectively, for the nine months ended November 30, 2025.
Schedule of goodwill
The following table summarizes the changes in our goodwill by segment for the nine months ended November 30, 2025:

(in thousands)Home &
 Outdoor		Beauty &
Wellness 		Total
Gross carrying amount as of February 28, 2025
$491,777 $729,792 $1,221,569 
Accumulated impairment as of February 28, 2025
— (38,670)(38,670)
Net carrying amount as of February 28, 2025
$491,777 $691,122 $1,182,899 
Acquisitions (1)
— (4,113)(4,113)
Impairment charges (2)
(229,058)(419,542)(648,600)
Gross carrying amount as of November 30, 2025
$491,777 $725,679 $1,217,456 
Accumulated impairment as of November 30, 2025
(229,058)(458,212)(687,270)
Net carrying amount as of November 30, 2025
$262,719 $267,467 $530,186 

(1)Reflects a favorable post-closing adjustment to goodwill recorded in the Beauty & Wellness segment during the first quarter of fiscal 2026, partially offset by an increase to goodwill for adjustments to a provisional current liability balance during the third quarter of fiscal 2026 in connection with the acquisition of Olive & June on December 16, 2024. For additional information see Note 4.
(2)The Home & Outdoor segment reflects goodwill impairment charges related to our Hydro Flask and Osprey reporting units of $115.9 million and $113.1 million, respectively, for the nine months ended November 30, 2025. No goodwill impairment charges were recognized during the three months ended November 30, 2025 related to our Home & Outdoor segment. The Beauty & Wellness segment reflects goodwill impairment charges related to our Health & Wellness, Drybar and
Curlsmith reporting units of $10.7 million, $0.2 million and $28.2 million, respectively, for the three months ended November 30, 2025 and $200.3 million, $134.3 million and $85.0 million, respectively, for the nine months ended November 30, 2025. The remaining carrying values of the Osprey, Health & Wellness and Curlsmith reporting units’ goodwill as of November 30, 2025 were $96.6 million, $84.7 million and $32.1 million, respectively. The goodwill impairment charges recognized for the Hydro Flask and Drybar reporting units reduced the carrying values of their goodwill to zero.
Schedule of asset impairment charges
The following table summarizes the components of our other intangible assets as follows:

November 30, 2025February 28, 2025
(in thousands)Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Indefinite-lived:
Trademark licenses
$7,400 $— $7,400 $7,400 $— $7,400 
Trade names (1)
257,200 — 257,200 358,200 — 358,200 
Definite-lived:
Trademark licenses (2)
45,700 (2,915)42,785 75,050 (9,454)65,596 
Trade names (3)
65,253 (3,850)61,403 89,365 (14,030)75,335 
Customer relationships and lists (4)
137,001 (115,463)21,538 168,201 (120,932)47,269 
Other intangibles (5)
58,283 (50,082)8,201 74,297 (61,341)12,956 
Total $570,837 $(172,310)$398,527 $772,513 $(205,757)$566,756 
(1)Balances as of November 30, 2025 reflect total impairment charges of $24.0 million during the three months ended November 30, 2025 which includes $15.0 million related to our Hydro Flask trade name and $9.0 million related to our Osprey trade name and $97.0 million during the nine months ended November 30, 2025, which includes $55.0 million related to our Hydro Flask trade name, $35.0 million related to our Osprey trade name and $7.0 million related to our PUR trade name. The remaining carrying values of the Osprey and PUR trade names as of November 30, 2025 were $135.0 million and $47.0 million, respectively. The impairment charges were recorded in the Home & Outdoor segment for Hydro Flask and Osprey and in the Beauty & Wellness segment for PUR. The remaining carrying value of the Hydro Flask trade name of $4.0 million was reclassified to a definite-lived trade name as of November 30, 2025 and assigned a useful life of 10 years.
(2)Balances as of November 30, 2025 reflect total impairment charges recorded in the Beauty & Wellness segment during the nine months ended November 30, 2025 of $23.5 million related to our Revlon trademark license. The remaining carrying value of this trademark license as of November 30, 2025 was $40.4 million. As of November 30, 2025, the remaining useful life of the Revlon trademark license was revised from approximately 35 years to 10 years, which will increase annual amortization expense by approximately $2.9 million. No impairment charges were recognized during the three months ended November 30, 2025 related to our definite-lived trademark licenses.
(3)Balances as of November 30, 2025 reflect total impairment charges recorded in the Beauty & Wellness segment of $2.9 million during the three months ended November 30, 2025 related to our Drybar trade name and $14.5 million during the nine months ended November 30, 2025, which includes $7.8 million related to our Curlsmith trade name and $6.7 million related to our Drybar trade name. The remaining carrying value of the Curlsmith trade name as of November 30, 2025 was $9.6 million. The impairment charge recognized for the Drybar trade name reduced its carrying value to zero. The balance above also includes the carrying value of the Hydro Flask trade name of $4.0 million that was reclassified from an indefinite-lived trade name to a definite-lived trade name as of November 30, 2025.
(4)Balances as of November 30, 2025 reflect total impairment charges of $19.5 million recognized during the nine months ended November 30, 2025, which includes $10.7 million and $8.8 million recorded in the Beauty & Wellness and Home & Outdoor segments, respectively, related to our Drybar and Hydro Flask customer relationships which reduced the carrying values of these assets to zero. No impairment charges were recognized during the three months ended November 30, 2025 related to our customer relationships and lists.
(5)Balances as of November 30, 2025 reflect total impairment charges of $3.6 million recognized during the nine months ended November 30, 2025, which includes $2.8 million and $0.8 million recorded in the Beauty & Wellness and Home & Outdoor segments, respectively, related to Drybar and Hydro Flask other intangibles which reduced the carrying values of these assets to zero. No impairment charges were recognized during the three months ended November 30, 2025 related to our other intangible assets.
Schedule of amortization expense attributable to intangible assets
The following table summarizes amortization expense related to our other intangible assets as follows:

Estimated Amortization Expense (in thousands)
 
Fiscal 2026
$17,096 
Fiscal 202714,587 
Fiscal 202811,920 
Fiscal 202911,892 
Fiscal 203011,595 
Fiscal 2031
10,759 
v3.25.4
Share-Based Compensation Plans (Tables)
 9 Months Ended
Nov. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of share-based compensation expense in SG&A
We recorded share-based compensation expense in SG&A as follows:
 Three Months Ended November 30,Nine Months Ended November 30,
(in thousands)202520242025 (1)2024
Directors’ stock compensation
$196 $197 $588 $589 
Service Condition Awards3,462 2,711 14,030 8,105 
Performance Condition Awards734 563 (2,128)2,703 
Market Condition Awards309 842 1,318 3,609 
Employee stock purchase plan329 417 890 1,044 
Share-based compensation expense5,030 4,730 14,698 16,050 
Less: income tax benefits
(521)(354)(1,123)(839)
Share-based compensation expense, net of income tax benefits$4,509 $4,376 $13,575 $15,211 
(1)Share-based compensation expense during the nine months ended November 30, 2025 includes a benefit for Performance Condition Awards, as a result of a change in estimate from target achievement to zero percent achievement for Performance Condition Awards granted during fiscal 2024.
v3.25.4
Repurchases of Common Stock (Tables)
 9 Months Ended
Nov. 30, 2025
Equity [Abstract]  
Schedule of share repurchase activity
The following table summarizes our share repurchase activity for the periods shown:
 Three Months Ended November 30,Nine Months Ended November 30,
(in thousands, except share and per share data)2025202420252024
Common stock repurchased on the open market: 
Number of shares— — — 1,011,243 
Aggregate value of shares$— $— $— $100,019 
Average price per share$— $— $— $98.91 
Common stock received in connection with share-based compensation:
Number of shares11,025 448 40,964 27,223 
Aggregate value of shares$224 $30 $1,706 $3,155 
Average price per share$20.30 $66.34 $41.64 $115.89 
v3.25.4
Long-Term Debt (Tables)
 9 Months Ended
Nov. 30, 2025
Debt Disclosure [Abstract]  
Schedule of long-term debt
A summary of our long-term debt follows:
(in thousands)November 30, 2025February 28, 2025
Credit Agreement (1):
Revolving loans$415,499 $678,100 
Term loans482,032 243,750 
Total borrowings under Credit Agreement897,531 921,850 
Unamortized prepaid financing fees(5,138)(4,956)
Total long-term debt892,393 916,894 
Less: current maturities of long-term debt(23,438)(9,375)
Long-term debt, excluding current maturities$868,955 $907,519 
(1)The weighted average interest rates on borrowings outstanding under the Credit Agreement (defined below) inclusive of the impact of our interest rate swaps as of November 30, 2025 and February 28, 2025 were 5.8% and 5.6%, respectively.
Schedule of Debt, Restrictive Covenants Amends the maximum Leverage Ratio financial covenant so that it is not permitted to be greater than as set forth below as of the end of the fiscal quarter:
Fiscal Quarter Ending
Maximum
Leverage Ratio
November 30, 2025
4.50 to 1.00
February 28, 2026 through August 31, 2026
4.50 to 1.00
November 30, 2026
4.00 to 1.00
February 28, 2027 through May 31, 2027
3.75 to 1.00
August 31, 2027 and each fiscal quarter thereafter
3.50 to 1.00
v3.25.4
Fair Value (Tables)
 9 Months Ended
Nov. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of financial assets and liabilities
The following table presents the fair value of our financial assets and liabilities:
 
Fair Value
(in thousands)November 30, 2025February 28, 2025
Assets: 
Cash equivalents (money market accounts)$3,523 $3,852 
U.S. Treasury Bills
11,694 11,268 
Interest rate swaps363 1,065 
Foreign currency derivatives1,059 2,163 
Total assets$16,639 $18,348 
  
Liabilities: 
Interest rate swaps$288 $221 
Contingent consideration
4,800 4,100 
Foreign currency derivatives2,877 119 
Total liabilities$7,965 $4,440 
Schedule of Changes in level 3 contingent consideration liability
The following table presents the changes in our Level 3 contingent consideration liability:

Three Months Ended November 30,Nine Months Ended November 30,
(in thousands)2025202420252024
Balance at beginning of period
$4,100 $— $4,100 $— 
Changes in fair value (1)
700 — 700 — 
Balance at end of period
$4,800 $— $4,800 $— 
(1) Reflects an increase in the estimated fair value of our contingent consideration liability, which was recognized in SG&A during the three and nine months ended November 30, 2025.
Schedule of fair value measurements nonrecurring
The following table presents the remaining carrying value of the assets that were remeasured to fair value on a non-recurring basis:
Fair Value Measurements
Fiscal 2026 Asset Impairment Charges
(in thousands)
November 30, 2025
Level 1Level 2Level 3
Goodwill$530,186 $— $— $530,186 $648,600 
Indefinite-lived intangible assets
264,600 — — 264,600 97,000 
Definite-lived intangible assets
133,927 — — 133,927 61,085 
Total$928,713 $— $— $928,713 $806,685 
v3.25.4
Financial Instruments and Risk Management (Tables)
 9 Months Ended
Nov. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair values of derivative instruments
The following tables summarize the fair values of our derivative instruments as of the end of the periods presented:
(in thousands)November 30, 2025

Derivatives designated as hedging instruments		Hedge
Type		Final
Settlement Date		Notional AmountPrepaid
Expenses
and Other
Current Assets		Other AssetsAccrued
Expenses
and Other
Current Liabilities		Other
Liabilities, Non- Current
Forward contracts - sell EuroCash flow8/2027€81,600 $261 $366 $1,885 $35 
Forward contracts - sell Canadian DollarsCash flow2/2027$37,100 97 56 133 23 
Forward contracts - sell PoundsCash flow12/2027£36,650 27 179 586 174 
Forward contracts - sell Norwegian KronerCash flow2/2027kr38,000 41 10 38 3 
Interest rate swaps (1)
Cash flow8/2027$725,000 329 34 252 36 
Subtotal   755 645 2,894 271 
Derivatives not designated under hedge accounting       
Forward contracts - sell Euro
(2)12/2025€5,020 — — — — 
Forward contracts - buy Pounds
(2)12/2025£2,200 22 — — — 
Subtotal   22 — — — 
Total fair value$777 $645 $2,894 $271 
(in thousands)February 28, 2025

Derivatives designated as hedging instruments		Hedge TypeFinal
Settlement Date		Notional AmountPrepaid
Expenses
and Other
Current Assets		Other AssetsAccrued
Expenses
and Other
Current Liabilities		Other
Liabilities Non- Current
Forward contracts - sell EuroCash flow2/2026€35,000 $1,266 $— $— $— 
Forward contracts - sell Canadian DollarsCash flow2/2026$8,000 38 — — — 
Forward contracts - sell PoundsCash flow2/2026£24,950 788 — 99 — 
Forward contracts - sell Norwegian KronerCash flow8/2025kr10,000 71 — — — 
Interest rate swapsCash flow8/2026$550,000 763 302 221 — 
Subtotal   2,926 302 320 — 
Derivatives not designated under hedge accounting       
Forward contracts - sell Euro
(2)3/2025€680 — — 2 — 
Forward contracts - sell Pounds
(2)3/2025£1,280 — — 18 — 
Subtotal   — — 20 — 
Total fair value   $2,926 $302 $340 $— 
(1)Includes a forward-starting interest rate swap agreement with a notional amount of $100 million that becomes effective on March 1, 2026.
(2)These forward contracts, for which we have not elected hedge accounting, hedge monetary net asset and liability positions for the notional amounts reported, creating an economic hedge against currency movements.
Schedule of pre-tax effect of derivative instruments designated as hedges
The pre-tax effects of derivative instruments designated as cash flow hedges were as follows for the periods presented:
 Three Months Ended November 30,
 
Gain (Loss)
Recognized in AOCI
Gain (Loss) Reclassified
from AOCI into Income
(in thousands)20252024Location20252024
Foreign currency contracts - cash flow hedges$3,644 $3,607 Sales revenue, net$(2,034)$(4)
Interest rate swaps - cash flow hedges174 3,788 Interest expense736 1,262 
Total$3,818 $7,395  $(1,298)$1,258 

Nine Months Ended November 30,
Gain (Loss)
Recognized in AOCI		Gain (Loss) Reclassified
from AOCI into Income
(in thousands)20252024Location20252024
Foreign currency contracts - cash flow hedges$(8,431)$2,182 Sales revenue, net$(4,527)$(13)
Interest rate swaps - cash flow hedges2,044 2,545 Interest expense2,813 3,311 
Total$(6,387)$4,727  $(1,714)$3,298 
Schedule of pre-tax effect of derivative instruments not designated as hedges
The pre-tax effects of derivative instruments not designated under hedge accounting were as follows for the periods presented:
 Gain (Loss) 
Recognized in Income
Three Months Ended November 30,Nine Months Ended November 30,
(in thousands)Location2025202420252024
Forward contractsSG&A$(96)$(67)$(601)$21 
Total $(96)$(67)$(601)$21 
v3.25.4
Accumulated Other Comprehensive Income (Loss) (Tables)
 9 Months Ended
Nov. 30, 2025
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent [Abstract]  
Schedule of changes in accumulated other comprehensive income (loss)
The changes in AOCI by component and related tax effects for the periods presented were as follows:
(in thousands)Interest
Rate Swaps		Foreign
Currency
Contracts		Total
Balance at February 29, 2024$1,917 $182 $2,099 
Other comprehensive income before reclassification
2,545 2,182 4,727 
Amounts reclassified out of AOCI(3,311)13 (3,298)
Tax effects179 (464)(285)
Other comprehensive (loss) income
(587)1,731 1,144 
Balance at November 30, 2024$1,330 $1,913 $3,243 
Balance at February 28, 2025$646 $1,632 $2,278 
Other comprehensive income (loss) before reclassification
2,044 (8,431)(6,387)
Amounts reclassified out of AOCI(2,813)4,527 1,714 
Tax effects179 812 991 
Other comprehensive loss
(590)(3,092)(3,682)
Balance at November 30, 2025$56 $(1,460)$(1,404)
v3.25.4
Segment and Geographic Information (Tables)
 9 Months Ended
Nov. 30, 2025
Segment Reporting [Abstract]  
Schedule of segment information
The following tables summarize reportable segment information with a reconciliation to our condensed consolidated results for the periods presented:
Three Months Ended November 30, 2025
(in thousands)Home & OutdoorBeauty & Wellness (1)Total
Sales revenue, net$229,637 $283,192 $512,829 
Less: (2)
Cost of goods sold117,355 155,130 272,485 
Operating expense (3)
112,354 136,360 248,714 
Operating loss
$(72)$(8,298)$(8,370)
Non-operating income, net211 
Interest expense15,855 
Loss before income tax
$(24,014)
Three Months Ended November 30, 2024
(in thousands)Home & OutdoorBeauty & WellnessTotal
Sales revenue, net$246,109 $284,597 $530,706 
Less: (2)
Cost of goods sold115,438 155,940 271,378 
Operating expense (3)
90,358 93,852 184,210 
Operating income$40,313 $34,805 $75,118 
Non-operating income, net198 
Interest expense12,164 
Income before income tax$63,152 
Nine Months Ended November 30, 2025
(in thousands)Home & OutdoorBeauty & Wellness (1)Total
Sales revenue, net$616,341 $699,924 $1,316,265 
Less: (2)
Cost of goods sold315,884 394,345 710,229 
Operating expense (3)
586,900 750,261 1,337,161 
Operating loss
$(286,443)$(444,682)$(731,125)
Non-operating income, net768 
Interest expense43,884 
Loss before income tax
$(774,241)
Nine Months Ended November 30, 2024
(in thousands)Home & OutdoorBeauty & WellnessTotal
Sales revenue, net$686,512 $735,262 $1,421,774 
Less: (2)
Cost of goods sold327,305 415,992 743,297 
Operating expense (3)
271,892 265,852 537,744 
Operating income$87,315 $53,418 $140,733 
Non-operating income, net468 
Interest expense37,923 
Income before income tax$103,278 
(1)The three and nine months ended November 30, 2025 include a full three and nine months, respectively, of operating results from Olive & June, acquired on December 16, 2024. For additional information see Note 4.
(2)These significant expense categories and amounts align with the reportable segment information that is regularly provided to the CODM.
(3)Operating expense for both reportable segments includes SG&A expense. Operating expense during the three and nine months ended November 30, 2025 includes asset impairment charges of $65.9 million and $806.7 million, respectively, of which $24.0 million and $328.6 million was recognized in our Home & Outdoor segment, respectively, and $41.9 million and $478.1 million was recognized in our Beauty & Wellness segment, respectively. Operating expense during the nine months ended November 30, 2025 and three and nine months ended November 30, 2024 also includes restructuring charges. See Note 5 for further information on the asset impairment charges.

The following tables summarize reportable segment information for the periods presented:
Three Months Ended November 30, 2025
(in thousands)Home & OutdoorBeauty & Wellness (1)Total
Capital and intangible asset expenditures$2,159 $4,015 $6,174 
Depreciation and amortization6,075 6,762 12,837 
Non-cash share-based compensation2,013 3,017 5,030 
Asset impairment charges
24,000 41,906 65,906 

Three Months Ended November 30, 2024
(in thousands)Home & OutdoorBeauty & WellnessTotal
Capital and intangible asset expenditures$2,976 $5,153 $8,129 
Depreciation and amortization6,336 6,886 13,222 
Non-cash share-based compensation2,476 2,254 4,730 

Nine Months Ended November 30, 2025
(in thousands)Home & OutdoorBeauty & Wellness (1)Total
Capital and intangible asset expenditures$16,049 $14,957 $31,006 
Depreciation and amortization18,674 21,107 39,781 
Non-cash share-based compensation6,295 8,403 14,698 
Asset impairment charges
328,632 478,053 806,685 

Nine Months Ended November 30, 2024
(in thousands)Home & OutdoorBeauty & WellnessTotal
Capital and intangible asset expenditures$10,443 $11,712 $22,155 
Depreciation and amortization19,573 21,277 40,850 
Non-cash share-based compensation8,303 7,747 16,050 
(1)The three and nine months ended November 30, 2025 include a full three and nine months, respectively, of operating results from Olive & June, acquired on December 16, 2024. For additional information see Note 4.
Schedule of domestic and international long-lived assets
The following table presents net sales revenue by geographic region, in U.S. Dollars:
Three Months Ended November 30,Nine Months Ended November 30,
(in thousands)2025202420252024
Domestic sales revenue, net (1)
$393,267 76.7 %$400,539 75.5 %$1,001,723 76.1 %$1,066,969 75.0 %
International sales revenue, net119,562 23.3 %130,167 24.5 %314,542 23.9 %354,805 25.0 %
Total sales revenue, net$512,829 100.0 %$530,706 100.0 %$1,316,265 100.0 %$1,421,774 100.0 %
(1)Domestic net sales revenue includes net sales revenue from the U.S. and Canada.
v3.25.4
Earnings Per Share (Tables)
 9 Months Ended
Nov. 30, 2025
Earnings Per Share [Abstract]  
Schedule of components of basic and diluted shares
The following table presents our weighted average basic and diluted shares outstanding for the periods shown:
 Three Months Ended November 30,Nine Months Ended November 30,
(in thousands)2025202420252024
Weighted average shares outstanding, basic23,035 22,853 22,979 23,064 
Incremental shares from share-based compensation arrangements— 29 — 54 
Weighted average shares outstanding, diluted (1)
23,035 22,882 22,979 23,118 
Anti-dilutive securities421 123 435 134 
(1)Due to the net loss for the three and nine months ended November 30, 2025, 145 thousand and 75 thousand incremental shares, respectively, from share-based compensation arrangements were excluded from the computation of diluted weighted average shares outstanding because their effect would be anti-dilutive.
v3.25.4
Basis of Presentation and Related Information (Details)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Dec. 16, 2024
USD ($)
May 31, 2025
USD ($)
Nov. 30, 2025
segment
$ / shares
Feb. 28, 2025
$ / shares
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]        
Common stock, par value (in dollars per share) | $ / shares     $ 0.10 $ 0.10
Number of segments | segment     2  
Olive & June, LLC        
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]        
Net proceeds from business acquired $ 224.7      
Increase (decrease) to purchase consideration due to working capital adjustment 3.9 $ 3.9    
Contingent cash consideration $ 15.0      
v3.25.4
Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Thousands
Nov. 30, 2025
Feb. 28, 2025
Payables and Accruals [Abstract]    
Accrued compensation, benefits and payroll taxes $ 31,422 $ 16,096
Accrued sales discounts and allowances 51,753 36,600
Accrued sales returns 22,583 20,190
Accrued advertising 32,951 25,716
Other 77,628 62,138
Total accrued expenses and other current liabilities $ 216,337 $ 160,740
v3.25.4
Acquisition of Olive & June - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 16, 2024
Nov. 30, 2025
May 31, 2025
Nov. 30, 2025
Aug. 31, 2025
Business Combination [Line Items]          
Acquisition, increase to goodwill       $ (4,113)  
Trade names          
Business Combination [Line Items]          
Up-front license fee $ 51,000        
Amortization period of intangible assets 15 years        
Customer relationships          
Business Combination [Line Items]          
Up-front license fee $ 8,000        
Amortization period of intangible assets 8 years 6 months        
Noncompete agreements          
Business Combination [Line Items]          
Up-front license fee $ 1,600        
Amortization period of intangible assets 5 years        
Olive & June, LLC          
Business Combination [Line Items]          
Membership interest acquired 100.00%        
Net payments to acquire businesses $ 224,700        
Increase (decrease) to purchase consideration due to working capital adjustment 3,900   $ 3,900    
Contingent cash consideration 15,000        
Additional contingent consideration 4,100 $ 4,800   4,800  
Contingent consideration, liability, current 1,800 4,400   4,400  
Contingent consideration, liability, noncurrent $ 2,300 400   $ 400  
Adjustment to goodwill, assets and liability balances         $ 300
Increase (decrease) to goodwill due to working capital adjustment     $ 3,900    
Provisional information, adjustment to current liability   0      
Acquisition, increase to goodwill   $ 0      
v3.25.4
Acquisition of Olive & June - Schedule of Business Acquisitions, by Acquisition (Details) - USD ($)
$ in Thousands
Nov. 30, 2025
Feb. 28, 2025
Dec. 16, 2024
Assets:      
Goodwill $ 530,186 $ 1,182,899  
Olive & June, LLC      
Assets:      
Receivables     $ 13,182
Inventory     15,121
Prepaid expenses and other current assets     3,920
Property and equipment     1,490
Goodwill     150,726
Other assets     275
Total assets     245,314
Liabilities:      
Accounts payable     5,614
Accrued expenses and other current liabilities     12,731
Other liabilities, non-current     2,300
Total liabilities     20,645
Net assets recorded     224,669
Olive & June, LLC | Trade names      
Assets:      
Finite lived intangible assets     51,000
Olive & June, LLC | Customer relationships      
Assets:      
Finite lived intangible assets     8,000
Olive & June, LLC | Other intangible assets      
Assets:      
Finite lived intangible assets     $ 1,600
v3.25.4
Goodwill and Intangibles - Schedule of Pre-Tax Asset Impairment Charges (Details) - USD ($)
 3 Months Ended 9 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Nov. 30, 2025
Nov. 30, 2024
Finite-Lived Intangible Assets [Line Items]        
Asset impairment charges $ 65,906,000 $ 0 $ 806,685,000 $ 0
Home & Outdoor | Hydro Flask        
Finite-Lived Intangible Assets [Line Items]        
Asset impairment charges 15,000,000   180,500,000  
Home & Outdoor | Osprey        
Finite-Lived Intangible Assets [Line Items]        
Asset impairment charges 9,000,000   148,100,000  
Beauty & Wellness | Health & Wellness        
Finite-Lived Intangible Assets [Line Items]        
Asset impairment charges 10,700,000   207,300,000  
Beauty & Wellness | Drybar        
Finite-Lived Intangible Assets [Line Items]        
Asset impairment charges 3,100,000   154,500,000  
Beauty & Wellness | Curlsmith        
Finite-Lived Intangible Assets [Line Items]        
Asset impairment charges 28,200,000   92,800,000  
Beauty & Wellness | Revlon Businesses        
Finite-Lived Intangible Assets [Line Items]        
Asset impairment charges     23,500,000  
Operating Segments        
Finite-Lived Intangible Assets [Line Items]        
Asset impairment charges 65,906,000 $ 0 806,685,000 $ 0
Operating Segments | Home & Outdoor        
Finite-Lived Intangible Assets [Line Items]        
Asset impairment charges 24,000,000   328,632,000  
Operating Segments | Beauty & Wellness        
Finite-Lived Intangible Assets [Line Items]        
Asset impairment charges $ 41,906,000   $ 478,053,000  
v3.25.4
Goodwill and Intangibles - Narrative (Details) - USD ($)
 3 Months Ended 9 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Nov. 30, 2025
Nov. 30, 2024
Indefinite-Lived Intangible Assets [Line Items]        
Asset impairment charges $ 65,906,000 $ 0 $ 806,685,000 $ 0
Amortization of intangible assets 3,700,000 4,500,000 12,600,000 13,600,000
Operating Segments        
Indefinite-Lived Intangible Assets [Line Items]        
Asset impairment charges $ 65,906,000 $ 0 $ 806,685,000 $ 0
v3.25.4
Goodwill and Intangibles - Schedule of Goodwill by Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Nov. 30, 2025
Nov. 30, 2025
Feb. 28, 2025
Goodwill [Roll Forward]      
Gross carrying value, beginning balance   $ 1,221,569  
Accumulated impairment $ (687,270) (687,270) $ (38,670)
Goodwill 530,186 530,186 1,182,899
Acquisitions   (4,113)  
Impairment charges   (648,600)  
Gross carrying value, ending balance 1,217,456 1,217,456  
Hydro Flask Reporting Units      
Goodwill [Roll Forward]      
Goodwill 0 0  
Osprey Reporting Unit      
Goodwill [Roll Forward]      
Goodwill 96,600 96,600  
Heath & Wellness Reporting Units      
Goodwill [Roll Forward]      
Goodwill 84,700 84,700  
Drybar Reporting Units      
Goodwill [Roll Forward]      
Goodwill 0 0  
Curlsmith Reporting Units      
Goodwill [Roll Forward]      
Goodwill 32,100 32,100  
Home & Outdoor      
Goodwill [Roll Forward]      
Gross carrying value, beginning balance   491,777  
Accumulated impairment (229,058) (229,058) 0
Goodwill 262,719 262,719 491,777
Acquisitions   0  
Impairment charges   (229,058)  
Gross carrying value, ending balance 491,777 491,777  
Home & Outdoor | Hydro Flask Reporting Units      
Goodwill [Roll Forward]      
Impairment charges 0 (115,900)  
Home & Outdoor | Osprey Reporting Unit      
Goodwill [Roll Forward]      
Impairment charges 0 (113,100)  
Beauty & Wellness      
Goodwill [Roll Forward]      
Gross carrying value, beginning balance   729,792  
Accumulated impairment (458,212) (458,212) (38,670)
Goodwill 267,467 267,467 $ 691,122
Acquisitions   (4,113)  
Impairment charges   (419,542)  
Gross carrying value, ending balance 725,679 725,679  
Beauty & Wellness | Heath & Wellness Reporting Units      
Goodwill [Roll Forward]      
Impairment charges (10,700) (200,300)  
Beauty & Wellness | Drybar Reporting Units      
Goodwill [Roll Forward]      
Impairment charges (200) (134,300)  
Beauty & Wellness | Curlsmith Reporting Units      
Goodwill [Roll Forward]      
Impairment charges $ (28,200) $ (85,000)  
v3.25.4
Goodwill and Intangibles - Schedule of Other Intangible Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Nov. 30, 2025
Nov. 30, 2025
Nov. 29, 2025
Feb. 28, 2025
Finite-Lived Intangible Assets [Line Items]        
Gross Carrying Amount $ 570,837 $ 570,837   $ 772,513
Accumulated Amortization (172,310) (172,310)   (205,757)
Net Carrying Amount 398,527 398,527   566,756
Indefinite-lived intangible assets   97,000    
Impairment charges   61,085    
Trademark licenses        
Finite-Lived Intangible Assets [Line Items]        
Gross Carrying Amount 45,700 45,700   75,050
Accumulated Amortization (2,915) (2,915)   (9,454)
Net Carrying Amount 42,785 42,785   65,596
Trademark licenses | Beauty & Wellness        
Finite-Lived Intangible Assets [Line Items]        
Net Carrying Amount $ 40,400 $ 40,400    
Finite-lived intangible asset, useful life 10 years 10 years 35 years  
Impairment charges $ 0 $ 23,500    
Finite-lived intangible assets, period increase   2,900    
Trade names        
Finite-Lived Intangible Assets [Line Items]        
Gross Carrying Amount 65,253 65,253   89,365
Accumulated Amortization (3,850) (3,850)   (14,030)
Net Carrying Amount 61,403 61,403   75,335
Trade names | Beauty & Wellness        
Finite-Lived Intangible Assets [Line Items]        
Impairment charges 2,900 14,500    
Trade names | Beauty & Wellness | Hydro Flask Reporting Units        
Finite-Lived Intangible Assets [Line Items]        
Indefinite-lived intangible asset, net reclassified to finite-lived intangible asset 4,000 4,000    
Trade names | Beauty & Wellness | Curlsmith Reporting Unit        
Finite-Lived Intangible Assets [Line Items]        
Net Carrying Amount 9,600 9,600    
Impairment charges   7,800    
Trade names | Beauty & Wellness | Drybar Reporting Units        
Finite-Lived Intangible Assets [Line Items]        
Net Carrying Amount $ 0 0    
Impairment charges   $ 6,700    
Trade names | Home & Outdoor Segment | Hydro Flask Reporting Units        
Finite-Lived Intangible Assets [Line Items]        
Finite-lived intangible asset, useful life 10 years 10 years    
Customer relationships and lists        
Finite-Lived Intangible Assets [Line Items]        
Gross Carrying Amount $ 137,001 $ 137,001   168,201
Accumulated Amortization (115,463) (115,463)   (120,932)
Net Carrying Amount 21,538 21,538   47,269
Impairment charges 0 19,500    
Customer relationships and lists | Drybar and Hydro Flask Reporting Units        
Finite-Lived Intangible Assets [Line Items]        
Net Carrying Amount 0 0    
Customer relationships and lists | Beauty & Wellness | Drybar Reporting Units        
Finite-Lived Intangible Assets [Line Items]        
Impairment charges   10,700    
Customer relationships and lists | Home & Outdoor | Hydro Flask Reporting Units        
Finite-Lived Intangible Assets [Line Items]        
Impairment charges   8,800    
Other intangibles        
Finite-Lived Intangible Assets [Line Items]        
Gross Carrying Amount 58,283 58,283   74,297
Accumulated Amortization (50,082) (50,082)   (61,341)
Net Carrying Amount 8,201 8,201   12,956
Impairment charges 0 3,600    
Other intangibles | Drybar and Hydro Flask Reporting Units        
Finite-Lived Intangible Assets [Line Items]        
Net Carrying Amount 0 0    
Other intangibles | Beauty & Wellness | Drybar Reporting Units        
Finite-Lived Intangible Assets [Line Items]        
Impairment charges   2,800    
Other intangibles | Home & Outdoor | Hydro Flask Reporting Units        
Finite-Lived Intangible Assets [Line Items]        
Impairment charges   800    
Trademark licenses        
Finite-Lived Intangible Assets [Line Items]        
Infinite-lived intangible assets 7,400 7,400   7,400
Trade names        
Finite-Lived Intangible Assets [Line Items]        
Infinite-lived intangible assets 257,200 257,200   $ 358,200
Indefinite-lived intangible assets 24,000      
Trade names | Beauty & Wellness | Hydro Flask Reporting Units        
Finite-Lived Intangible Assets [Line Items]        
Indefinite-lived intangible assets 15,000 55,000    
Trade names | Beauty & Wellness | PUR Trade Names        
Finite-Lived Intangible Assets [Line Items]        
Infinite-lived intangible assets 47,000 47,000    
Indefinite-lived intangible assets   7,000    
Trade names | Beauty & Wellness | Osprey Reporting Unit        
Finite-Lived Intangible Assets [Line Items]        
Indefinite-lived intangible assets 9,000      
Trade names | Home & Outdoor Segment | Osprey        
Finite-Lived Intangible Assets [Line Items]        
Infinite-lived intangible assets $ 135,000 135,000    
Indefinite-lived intangible assets   $ 35,000    
v3.25.4
Goodwill and Intangibles - Schedule of Estimated Amortization Expense (Details)
$ in Thousands
Nov. 30, 2025
USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]  
Fiscal 2026 $ 17,096
Fiscal 2027 14,587
Fiscal 2028 11,920
Fiscal 2029 11,892
Fiscal 2030 11,595
Fiscal 2031 $ 10,759
v3.25.4
Share-Based Compensation Plans - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
May 31, 2025
Nov. 30, 2025
Feb. 29, 2024
Share-based compensation plans      
Unrecognized share-based compensation   $ 20.8  
Expected recognition period for unrecognized share-based compensation   2 years  
Target achievement for performance condition awards, as a percentage     0.00%
The 2025 Plan      
Share-based compensation plans      
Shares reserved for future issuance (in shares)   1,092,393  
Service Condition Awards      
Share-based compensation plans      
Number of awards granted (in shares) 272,909    
Grant date fair value of shares granted in period (in dollars per share) $ 53.28    
Performance Shares      
Share-based compensation plans      
Number of awards granted (in shares) 320,027    
Performance Condition Awards      
Share-based compensation plans      
Number of awards granted (in shares) 191,946    
Grant date fair value of shares granted in period (in dollars per share) $ 53.28    
Market Condition Awards      
Share-based compensation plans      
Number of awards granted (in shares) 128,081    
Grant date fair value of shares granted in period (in dollars per share) $ 37.24    
v3.25.4
Share-Based Compensation Plans - Schedule of Share-based Compensation Expense in SG&A (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Nov. 30, 2025
Nov. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]        
Share-based compensation expense, net of income tax benefits $ 4,509 $ 4,376 $ 13,575 $ 15,211
SG&A        
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]        
Share-based compensation expense 5,030 4,730 14,698 16,050
Less: income tax benefits (521) (354) (1,123) (839)
Service Condition Awards | SG&A        
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]        
Share-based compensation expense 3,462 2,711 14,030 8,105
Performance Condition Awards | SG&A        
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]        
Share-based compensation expense 734 563 (2,128) 2,703
Market Condition Awards | SG&A        
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]        
Share-based compensation expense 309 842 1,318 3,609
Employee stock purchase plan | SG&A        
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]        
Share-based compensation expense 329 417 890 1,044
Directors’ stock compensation | SG&A        
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]        
Share-based compensation expense $ 196 $ 197 $ 588 $ 589
v3.25.4
Repurchases of Common Stock - Narrative (Details) - USD ($)
Aug. 20, 2024
Nov. 30, 2025
Equity [Abstract]    
Amount of shares authorized for purchase $ 500,000,000  
Period for stock repurchase 3 years  
Remaining share repurchase amount   $ 498,200,000
v3.25.4
Repurchases of Common Stock - Schedule of Share Repurchase Activity (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Nov. 30, 2025
Aug. 31, 2025
May 31, 2025
Nov. 30, 2024
Aug. 31, 2024
May 31, 2024
Nov. 30, 2025
Nov. 30, 2024
Repurchase of common stock                
Aggregate value of shares $ 224 $ 151 $ 1,331 $ 30 $ 109 $ 103,035    
Stock Compensation Plan                
Repurchase of common stock                
Number of shares (in shares) 11,025     448     40,964 27,223
Aggregate value of shares $ 224     $ 30     $ 1,706 $ 3,155
Average price per share (in dollars per share) $ 20.30     $ 66.34     $ 41.64 $ 115.89
Open Market                
Repurchase of common stock                
Number of shares (in shares) 0     0     0 1,011,243
Aggregate value of shares $ 0     $ 0     $ 0 $ 100,019
Average price per share (in dollars per share) $ 0     $ 0     $ 0 $ 98.91
v3.25.4
Restructuring Plan (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Nov. 30, 2025
Nov. 30, 2024
Feb. 28, 2025
Restructuring Plan          
Restructuring charges $ 0 $ 3,518 $ 3,005 $ 6,879  
Project Pegasus          
Restructuring Plan          
Restructuring reserve, current         $ 7,700
Restructuring charges   $ 3,500   6,900  
Payments for restructuring     5,700 $ 9,800  
Restructuring liability $ 2,000   $ 2,000    
v3.25.4
Commitments and Contingencies (Details)
Dec. 23, 2021
defendant
Commitments and Contingencies Disclosure [Abstract]  
Number of other companies named in litigation 5
v3.25.4
Long-Term Debt - Schedule of Long-term Debt (Details) - USD ($)
$ in Thousands
Nov. 30, 2025
Feb. 28, 2025
Long-term debt    
Unamortized prepaid financing fees $ (5,138) $ (4,956)
Total long-term debt 892,393 916,894
Less: current maturities of long-term debt (23,438) (9,375)
Long-term debt, excluding current maturities $ 868,955 $ 907,519
Line of credit    
Long-term debt    
Weighted average effective interest rate 5.80% 5.60%
Line of credit | Credit Agreement    
Long-term debt    
Total borrowings under Credit Agreement $ 897,531 $ 921,850
Line of credit | Credit Agreement | Revolving loans    
Long-term debt    
Total borrowings under Credit Agreement 415,499 678,100
Line of credit | Credit Agreement | Term loans    
Long-term debt    
Total borrowings under Credit Agreement $ 482,032 $ 243,750
v3.25.4
Long-Term Debt - Narrative (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Nov. 25, 2025
USD ($)
Dec. 16, 2024
USD ($)
Feb. 15, 2024
USD ($)
Nov. 30, 2025
USD ($)
May 31, 2025
USD ($)
Nov. 30, 2025
USD ($)
Nov. 30, 2024
USD ($)
Feb. 28, 2025
USD ($)
Debt Instrument [Line Items]                
Proceeds from term loans           $ 250,000 $ 0  
Debt issuance costs, net       $ 5,138   5,138   $ 4,956
Maximum net leverage ratio     3.25          
Proceeds from revolving loans           450,510 $ 747,840  
Term loans                
Debt Instrument [Line Items]                
Aggregate principal amount     $ 250,000          
Revolving loans | Credit Agreement                
Debt Instrument [Line Items]                
Maximum revolving commitment     1,500,000          
Credit agreement                
Debt Instrument [Line Items]                
Maximum additional debt allowed under debt covenants       135,600   135,600    
Credit agreement | Credit Agreement                
Debt Instrument [Line Items]                
Maximum allowable increase due to accordion feature     $ 300,000          
Deferred debt issuance cost, writeoff       900        
Credit agreement | Credit Agreement | Minimum | Base rate | Variable Rate Component One                
Debt Instrument [Line Items]                
Margin (as a percent)     0.00%          
Credit agreement | Credit Agreement | Minimum | SOFR | Variable Rate Component Two                
Debt Instrument [Line Items]                
Margin (as a percent)     1.00%          
Credit agreement | Credit Agreement | Maximum | Base rate | Variable Rate Component One                
Debt Instrument [Line Items]                
Margin (as a percent)     1.125%          
Credit agreement | Credit Agreement | Maximum | SOFR | Variable Rate Component Two                
Debt Instrument [Line Items]                
Margin (as a percent)     2.125%          
Credit agreement | Amended Credit Agreement With Bank Of America                
Debt Instrument [Line Items]                
Maximum net leverage ratio 4.00              
Debt Issuance Costs, Gross       1,000   1,000    
Credit agreement | Amended Credit Agreement With Bank Of America | Debt Instrument, Covenant Period One                
Debt Instrument [Line Items]                
Maximum net leverage ratio 4.50              
Credit agreement | Amended Credit Agreement With Bank Of America | Debt Instrument, Covenant Period Two                
Debt Instrument [Line Items]                
Maximum net leverage ratio 4.50              
Credit agreement | Amended Credit Agreement With Bank Of America | Base rate                
Debt Instrument [Line Items]                
Margin (as a percent) 1.375%              
Credit agreement | Amended Credit Agreement With Bank Of America | SOFR                
Debt Instrument [Line Items]                
Margin (as a percent) 2.375%              
Credit spread for term SOFR borrowings 0.10%              
Credit agreement | Revolving loans | Credit Agreement                
Debt Instrument [Line Items]                
Maximum revolving commitment $ 1,000,000   $ 1,000,000          
Proceeds from revolving credit facility     457,500          
Fixed rate debt       625,000   625,000   $ 550,000
Amount available for borrowings       334,500   334,500    
Credit agreement, maximum leverage ratio, amount       135,600   135,600    
Credit agreement | Revolving loans | Amended Credit Agreement With Bank Of America                
Debt Instrument [Line Items]                
Maximum revolving commitment $ 750,000              
Credit agreement | Letter of credit                
Debt Instrument [Line Items]                
Amount outstanding, letters of credit       $ 9,500   $ 9,500    
Credit agreement | Letter of credit | Olive & June, LLC                
Debt Instrument [Line Items]                
Proceeds from revolving loans   $ 235,000            
Credit agreement | Letter of credit | Olive & June, LLC | Debt Instrument, Covenant Period One                
Debt Instrument [Line Items]                
Maximum net leverage ratio   3.50            
Credit agreement | Letter of credit | Olive & June, LLC | Debt Instrument, Covenant Period Two                
Debt Instrument [Line Items]                
Maximum net leverage ratio   4.50            
Credit agreement | Letter of credit | Credit Agreement                
Debt Instrument [Line Items]                
Maximum revolving commitment     50,000          
Credit agreement | Term loans | Credit Agreement                
Debt Instrument [Line Items]                
Proceeds from term loan facility     $ 250,000          
Credit agreement | Term loans | Credit Agreement | Through February 28, 2025                
Debt Instrument [Line Items]                
Percent of term loans due quarterly     0.625%          
Credit agreement | Term loans | Credit Agreement | Through February 28, 2026                
Debt Instrument [Line Items]                
Percent of term loans due quarterly     0.9375%          
Credit agreement | Term loans | Credit Agreement | After February 28th, 2026                
Debt Instrument [Line Items]                
Percent of term loans due quarterly     1.25%          
Credit agreement | Term loans | Delayed Draw Facility                
Debt Instrument [Line Items]                
Proceeds from term loans         $ 250,000      
Debt issuance costs, net         $ 400      
Credit agreement | Delayed Draw Term Loan (DDTL) | Credit Agreement                
Debt Instrument [Line Items]                
Aggregate principal amount     $ 250,000          
v3.25.4
Long-Term Debt - Schedule of Debt Covenant, Net Leverage Ratio Schedule (Details)
Nov. 25, 2025
Feb. 15, 2024
Line of Credit Facility [Line Items]    
Maximum net leverage ratio   3.25
Amended Credit Agreement With Bank Of America | Credit agreement    
Line of Credit Facility [Line Items]    
Maximum net leverage ratio 4.00  
Amended Credit Agreement With Bank Of America | Credit agreement | Debt Instrument, Covenant Period One    
Line of Credit Facility [Line Items]    
Maximum net leverage ratio 4.50  
Amended Credit Agreement With Bank Of America | Credit agreement | Debt Instrument, Covenant Period Two    
Line of Credit Facility [Line Items]    
Maximum net leverage ratio 4.50  
Amended Credit Agreement With Bank Of America | Credit agreement | Debt Instrument, Covenant Period Three    
Line of Credit Facility [Line Items]    
Maximum net leverage ratio 4.00  
Amended Credit Agreement With Bank Of America | Credit agreement | Debt Instrument, Covenant Period Four    
Line of Credit Facility [Line Items]    
Maximum net leverage ratio 3.75  
Amended Credit Agreement With Bank Of America | Credit agreement | Debt Instrument, Covenant Period Five    
Line of Credit Facility [Line Items]    
Maximum net leverage ratio 3.50  
v3.25.4
Fair Value - Schedule of Financial Assets and Liabilities (Details) - Recurring - Level 2 - USD ($)
$ in Thousands
Nov. 30, 2025
Feb. 28, 2025
Assets:    
Cash equivalents (money market accounts) $ 3,523 $ 3,852
Total assets 16,639 18,348
Liabilities:    
Contingent consideration 4,800 4,100
Total liabilities 7,965 4,440
U.S. Treasury Bills    
Assets:    
U.S. Treasury Bills 11,694 11,268
Interest rate swaps    
Assets:    
Derivative assets 363 1,065
Liabilities:    
Derivative liabilities 288 221
Foreign currency derivatives    
Assets:    
Derivative assets 1,059 2,163
Liabilities:    
Derivative liabilities $ 2,877 $ 119
v3.25.4
Fair Value - Narrative (Details)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Nov. 30, 2025
USD ($)
Nov. 30, 2024
USD ($)
Nov. 30, 2025
USD ($)
Nov. 30, 2024
USD ($)
Feb. 28, 2025
USD ($)
Dec. 16, 2024
USD ($)
Fair Value            
Investment income, interest $ 100 $ 100 $ 400 $ 200    
Goodwill     648,600      
Indefinite-lived intangible assets     97,000      
Definite-lived intangible assets     61,085      
Goodwill, fair value disclosure 530,200   530,200      
Indefinite-lived intangible assets 264,600   264,600      
Definite-lived intangible assets 133,900   133,900      
Olive & June, LLC            
Fair Value            
Contingent cash consideration           $ 15,000
Additional contingent consideration 4,800   4,800     4,100
Contingent consideration, liability, current 4,400   4,400     1,800
Contingent consideration, liability, noncurrent 400   $ 400     $ 2,300
Changes in fair value $ 700          
Olive & June, LLC | Level 3 | Measurement Input, Discount Rate            
Fair Value            
Contingent consideration, liability, measurement input 0.14   0.14   0.13  
Olive & June, LLC | Level 3 | Measurement Input, Adjusted EBITDA Volatility Rate            
Fair Value            
Contingent consideration, liability, measurement input 0.47   0.47   0.33  
Olive & June, LLC | Level 3 | Measurement Input, Credit Risk Discount            
Fair Value            
Contingent consideration, liability, measurement input 0.069   0.069   0.065  
Minimum            
Fair Value            
Intangible asset royalty rate 0.30%   0.30%      
Maximum            
Fair Value            
Intangible asset royalty rate 5.50%   5.50%      
U.S. Treasury Bills            
Fair Value            
US treasury bills, carrying value, current $ 2,600   $ 2,600   $ 2,500  
US treasury bills, carrying value, non-current 8,900   8,900   8,700  
Debt securities, held-to-maturity, accumulated unrecognized gain 100   $ 100   100  
Gross unrealized gains (losses) on US Treasury bills $ 0       $ 0  
U.S. Treasury Bills | Minimum            
Fair Value            
Term of US treasury bills held to maturity 1 year   1 year      
U.S. Treasury Bills | Maximum            
Fair Value            
Term of US treasury bills held to maturity 5 years   5 years      
v3.25.4
Fair Value - Schedule of Changes in Level 3 Contingent Consideration Liability (Details) - Level 3 - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Nov. 30, 2025
Nov. 30, 2024
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period       $ 0
Changes in fair value       0
Balance at end of period   $ 0   0
Recurring        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period $ 4,100 0 $ 4,100  
Changes in fair value 700 0 700  
Balance at end of period $ 4,800 $ 0 $ 4,800 $ 0
v3.25.4
Fair Value - Schedule of Fair Value Measurements Nonrecurring (Details)
$ in Thousands
 9 Months Ended
Nov. 30, 2025
USD ($)
Fair Value  
Goodwill $ 530,200
Indefinite-lived intangible assets 264,600
Definite-lived intangible assets 133,900
Goodwill 648,600
Indefinite-lived intangible assets 97,000
Definite-lived intangible assets 61,085
Total 806,685
Fair Value, Nonrecurring  
Fair Value  
Goodwill 530,186
Indefinite-lived intangible assets 264,600
Definite-lived intangible assets 133,927
Total assets 928,713
Fair Value, Nonrecurring | Level 1  
Fair Value  
Goodwill 0
Indefinite-lived intangible assets 0
Definite-lived intangible assets 0
Total assets 0
Fair Value, Nonrecurring | Level 2  
Fair Value  
Goodwill 0
Indefinite-lived intangible assets 0
Definite-lived intangible assets 0
Total assets 0
Fair Value, Nonrecurring | Level 3  
Fair Value  
Goodwill 530,186
Indefinite-lived intangible assets 264,600
Definite-lived intangible assets 133,927
Total assets $ 928,713
v3.25.4
Financial Instruments and Risk Management - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Nov. 30, 2025
Nov. 30, 2024
Feb. 28, 2025
Foreign currency derivatives | Cash flow hedges          
Foreign Currency Risk and Currency Exchange Uncertainties          
Derivative instruments loss     $ (2,100)    
Period of reclassification to AOCI     12 months    
Credit agreement | Credit Agreement          
Foreign Currency Risk and Currency Exchange Uncertainties          
Aggregate principal balance $ 897,531   $ 897,531   $ 921,850
Credit agreement | Credit Agreement | Revolving loans          
Foreign Currency Risk and Currency Exchange Uncertainties          
Aggregate principal balance 415,499   415,499   678,100
Fixed rate debt 625,000   625,000   $ 550,000
Income Tax Expense          
Foreign Currency Risk and Currency Exchange Uncertainties          
Net foreign exchange (losses) gains, including the impact of currency hedges and currency swaps 700 $ 500 (8,800) $ 800  
SG&A          
Foreign Currency Risk and Currency Exchange Uncertainties          
Net foreign exchange (losses) gains, including the impact of currency hedges and currency swaps $ 300 $ 1,400 $ (1,800) $ 800  
Net sales revenue | Geographic concentration | International operations - transactions denominated in foreign currencies          
Foreign Currency Risk and Currency Exchange Uncertainties          
Concentration risk percentage 14.00% 14.00% 15.00% 14.00%  
v3.25.4
Financial Instruments and Risk Management - Schedule of Derivative FV (Details)
€ in Thousands, £ in Thousands, kr in Thousands, $ in Thousands, $ in Thousands
Mar. 01, 2026
USD ($)
Nov. 30, 2025
EUR (€)
Nov. 30, 2025
USD ($)
Nov. 30, 2025
CAD ($)
Nov. 30, 2025
GBP (£)
Nov. 30, 2025
NOK (kr)
Feb. 28, 2025
EUR (€)
Feb. 28, 2025
USD ($)
Feb. 28, 2025
CAD ($)
Feb. 28, 2025
GBP (£)
Feb. 28, 2025
NOK (kr)
Prepaid Expenses and Other Current Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     $ 777         $ 2,926      
Other Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     645         302      
Accrued Expenses and Other Current Liabilities                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     2,894         340      
Other Liabilities, Non- Current                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     271         0      
Derivatives designated as hedging instruments | Prepaid Expenses and Other Current Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     755         2,926      
Derivatives designated as hedging instruments | Other Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     645         302      
Derivatives designated as hedging instruments | Accrued Expenses and Other Current Liabilities                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     2,894         320      
Derivatives designated as hedging instruments | Other Liabilities, Non- Current                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     271         0      
Derivatives designated as hedging instruments | Foreign currency derivatives | Sell                      
Fair values of derivative instruments in the consolidated balance sheet                      
Notional Amount   € 81,600   $ 37,100 £ 36,650 kr 38,000 € 35,000   $ 8,000 £ 24,950 kr 10,000
Derivatives designated as hedging instruments | Foreign currency derivatives | Sell | Euros | Prepaid Expenses and Other Current Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     261         1,266      
Derivatives designated as hedging instruments | Foreign currency derivatives | Sell | Euros | Other Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     366         0      
Derivatives designated as hedging instruments | Foreign currency derivatives | Sell | Euros | Accrued Expenses and Other Current Liabilities                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     1,885         0      
Derivatives designated as hedging instruments | Foreign currency derivatives | Sell | Euros | Other Liabilities, Non- Current                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     35         0      
Derivatives designated as hedging instruments | Foreign currency derivatives | Sell | Canadian Dollars | Prepaid Expenses and Other Current Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     97         38      
Derivatives designated as hedging instruments | Foreign currency derivatives | Sell | Canadian Dollars | Other Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     56         0      
Derivatives designated as hedging instruments | Foreign currency derivatives | Sell | Canadian Dollars | Accrued Expenses and Other Current Liabilities                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     133         0      
Derivatives designated as hedging instruments | Foreign currency derivatives | Sell | Canadian Dollars | Other Liabilities, Non- Current                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     23         0      
Derivatives designated as hedging instruments | Foreign currency derivatives | Sell | Pounds | Prepaid Expenses and Other Current Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     27         788      
Derivatives designated as hedging instruments | Foreign currency derivatives | Sell | Pounds | Other Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     179         0      
Derivatives designated as hedging instruments | Foreign currency derivatives | Sell | Pounds | Accrued Expenses and Other Current Liabilities                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     586         99      
Derivatives designated as hedging instruments | Foreign currency derivatives | Sell | Pounds | Other Liabilities, Non- Current                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     174         0      
Derivatives designated as hedging instruments | Foreign currency derivatives | Sell | Norwegian Kroner | Prepaid Expenses and Other Current Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     41         71      
Derivatives designated as hedging instruments | Foreign currency derivatives | Sell | Norwegian Kroner | Other Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     10         0      
Derivatives designated as hedging instruments | Foreign currency derivatives | Sell | Norwegian Kroner | Accrued Expenses and Other Current Liabilities                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     38         0      
Derivatives designated as hedging instruments | Foreign currency derivatives | Sell | Norwegian Kroner | Other Liabilities, Non- Current                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     3         0      
Derivatives designated as hedging instruments | Interest rate swaps                      
Fair values of derivative instruments in the consolidated balance sheet                      
Notional Amount     725,000         550,000      
Derivatives designated as hedging instruments | Interest rate swaps | Forecast                      
Fair values of derivative instruments in the consolidated balance sheet                      
Notional Amount $ 100,000                    
Derivatives designated as hedging instruments | Interest rate swaps | Prepaid Expenses and Other Current Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     329         763      
Derivatives designated as hedging instruments | Interest rate swaps | Other Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     34         302      
Derivatives designated as hedging instruments | Interest rate swaps | Accrued Expenses and Other Current Liabilities                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     252         221      
Derivatives designated as hedging instruments | Interest rate swaps | Other Liabilities, Non- Current                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     36         0      
Derivatives not designated under hedge accounting | Prepaid Expenses and Other Current Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     22         0      
Derivatives not designated under hedge accounting | Other Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     0         0      
Derivatives not designated under hedge accounting | Accrued Expenses and Other Current Liabilities                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     0         20      
Derivatives not designated under hedge accounting | Other Liabilities, Non- Current                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     0         0      
Derivatives not designated under hedge accounting | Foreign currency derivatives | Euros | Prepaid Expenses and Other Current Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     0         0      
Derivatives not designated under hedge accounting | Foreign currency derivatives | Euros | Other Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     0         0      
Derivatives not designated under hedge accounting | Foreign currency derivatives | Euros | Accrued Expenses and Other Current Liabilities                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     0         2      
Derivatives not designated under hedge accounting | Foreign currency derivatives | Euros | Other Liabilities, Non- Current                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     0         0      
Derivatives not designated under hedge accounting | Foreign currency derivatives | Pounds | Prepaid Expenses and Other Current Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     22         0      
Derivatives not designated under hedge accounting | Foreign currency derivatives | Pounds | Other Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     0         0      
Derivatives not designated under hedge accounting | Foreign currency derivatives | Pounds | Accrued Expenses and Other Current Liabilities                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     0         18      
Derivatives not designated under hedge accounting | Foreign currency derivatives | Pounds | Other Liabilities, Non- Current                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     $ 0         $ 0      
Derivatives not designated under hedge accounting | Cross currency debt swaps                      
Fair values of derivative instruments in the consolidated balance sheet                      
Notional Amount   € 5,020     £ 2,200   € 680     £ 1,280  
v3.25.4
Financial Instruments and Risk Management - Schedule of Derivative Tax Effect (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Nov. 30, 2025
Nov. 30, 2024
Pre-tax effect of derivative instruments        
Gain (Loss) Recognized in AOCI $ 3,818 $ 7,395 $ (6,387) $ 4,727
Gain (Loss) Reclassified from AOCI into Income (1,298) 1,258 (1,714) 3,298
Gain (Loss)  Recognized in Income (96) (67) (601) 21
Foreign currency derivatives | Cash flow hedges        
Pre-tax effect of derivative instruments        
Gain (Loss) Recognized in AOCI 3,644 3,607 (8,431) 2,182
Foreign currency derivatives | Cash flow hedges | SG&A        
Pre-tax effect of derivative instruments        
Gain (Loss) Reclassified from AOCI into Income (2,034) (4) (4,527) (13)
Interest rate swaps | Cash flow hedges        
Pre-tax effect of derivative instruments        
Gain (Loss) Recognized in AOCI 174 3,788 2,044 2,545
Interest rate swaps | Cash flow hedges | Interest expense        
Pre-tax effect of derivative instruments        
Gain (Loss) Reclassified from AOCI into Income 736 1,262 2,813 3,311
Forward contracts | SG&A        
Pre-tax effect of derivative instruments        
Gain (Loss)  Recognized in Income $ (96) $ (67) $ (601) $ 21
v3.25.4
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Nov. 30, 2025
Aug. 31, 2025
May 31, 2025
Nov. 30, 2024
Aug. 31, 2024
May 31, 2024
Nov. 30, 2025
Nov. 30, 2024
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]                
Beginning balance $ 926,282 $ 1,227,686 $ 1,683,439 $ 1,567,580 $ 1,549,500 $ 1,637,442 $ 1,683,439 $ 1,637,442
Other comprehensive income before reclassification             (6,387) 4,727
Amounts reclassified out of AOCI             1,714 (3,298)
Tax effects             991 (285)
Other comprehensive (loss) income 4,057 (1,983) (5,756) 4,758 (4,312) 698 (3,682) 1,144
Ending balance 852,258 926,282 1,227,686 1,628,176 1,567,580 1,549,500 852,258 1,628,176
Total                
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]                
Beginning balance (5,461) (3,478) 2,278 (1,515) 2,797 2,099 2,278 2,099
Other comprehensive (loss) income 4,057 (1,983) (5,756) 4,758 (4,312) 698    
Ending balance (1,404) $ (5,461) (3,478) 3,243 $ (1,515) 2,797 (1,404) 3,243
Interest Rate Swaps                
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]                
Beginning balance     646     1,917 646 1,917
Other comprehensive income before reclassification             2,044 2,545
Amounts reclassified out of AOCI             (2,813) (3,311)
Tax effects             179 179
Other comprehensive (loss) income             (590) (587)
Ending balance 56     1,330     56 1,330
Foreign Currency Contracts                
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]                
Beginning balance     $ 1,632     $ 182 1,632 182
Other comprehensive income before reclassification             (8,431) 2,182
Amounts reclassified out of AOCI             4,527 13
Tax effects             812 (464)
Other comprehensive (loss) income             (3,092) 1,731
Ending balance $ (1,460)     $ 1,913     $ (1,460) $ 1,913
v3.25.4
Segment and Geographic Information - Narrative (Details)
 9 Months Ended
Nov. 30, 2025
segment
Segment Reporting [Abstract]  
Number of segments 2
v3.25.4
Segment and Geographic Information - Schedule of Segment Information by Segment (Details) - USD ($)
 3 Months Ended 9 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Nov. 30, 2025
Nov. 30, 2024
Segment information        
Sales revenue, net $ 512,829,000 $ 530,706,000 $ 1,316,265,000 $ 1,421,774,000
Cost of goods sold 272,485,000 271,378,000 710,229,000 743,297,000
Operating income (loss) (8,370,000) 75,118,000 (731,125,000) 140,733,000
Non-operating income, net 211,000 198,000 768,000 468,000
Interest expense 15,855,000 12,164,000 43,884,000 37,923,000
Income before income tax (24,014,000) 63,152,000 (774,241,000) 103,278,000
Asset impairment charges 65,906,000 0 806,685,000 0
Operating Segments        
Segment information        
Sales revenue, net 512,829,000 530,706,000 1,316,265,000 1,421,774,000
Cost of goods sold 272,485,000 271,378,000 710,229,000 743,297,000
Operating expenses 248,714,000 184,210,000 1,337,161,000 537,744,000
Operating income (loss) (8,370,000) 75,118,000 (731,125,000) 140,733,000
Asset impairment charges 65,906,000 0 806,685,000 0
Home & Outdoor | Operating Segments        
Segment information        
Sales revenue, net 229,637,000 246,109,000 616,341,000 686,512,000
Cost of goods sold 117,355,000 115,438,000 315,884,000 327,305,000
Operating expenses 112,354,000 90,358,000 586,900,000 271,892,000
Operating income (loss) (72,000) 40,313,000 (286,443,000) 87,315,000
Asset impairment charges 24,000,000   328,632,000  
Beauty & Wellness | Operating Segments        
Segment information        
Sales revenue, net 283,192,000 284,597,000 699,924,000 735,262,000
Cost of goods sold 155,130,000 155,940,000 394,345,000 415,992,000
Operating expenses 136,360,000 93,852,000 750,261,000 265,852,000
Operating income (loss) (8,298,000) $ 34,805,000 (444,682,000) $ 53,418,000
Asset impairment charges $ 41,906,000   $ 478,053,000  
v3.25.4
Segment and Geographic Information - Schedule of Reportable Segment Information (Details) - USD ($)
 3 Months Ended 9 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Nov. 30, 2025
Nov. 30, 2024
Segment information        
Depreciation and amortization     $ 39,781,000 $ 40,850,000
Non-cash share-based compensation     14,698,000 16,050,000
Asset impairment charges $ 65,906,000 $ 0 806,685,000 0
Operating Segments        
Segment information        
Capital and intangible asset expenditures 6,174,000 8,129,000 31,006,000 22,155,000
Depreciation and amortization 12,837,000 13,222,000 39,781,000 40,850,000
Non-cash share-based compensation 5,030,000 4,730,000 14,698,000 16,050,000
Asset impairment charges 65,906,000 0 806,685,000 0
Home & Outdoor | Operating Segments        
Segment information        
Capital and intangible asset expenditures 2,159,000 2,976,000 16,049,000 10,443,000
Depreciation and amortization 6,075,000 6,336,000 18,674,000 19,573,000
Non-cash share-based compensation 2,013,000 2,476,000 6,295,000 8,303,000
Asset impairment charges 24,000,000   328,632,000  
Beauty & Wellness | Operating Segments        
Segment information        
Capital and intangible asset expenditures 4,015,000 5,153,000 14,957,000 11,712,000
Depreciation and amortization 6,762,000 6,886,000 21,107,000 21,277,000
Non-cash share-based compensation 3,017,000 $ 2,254,000 8,403,000 $ 7,747,000
Asset impairment charges $ 41,906,000   $ 478,053,000  
v3.25.4
Segment and Geographic Information - Schedule of Revenue by Domestic and International (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Nov. 30, 2025
Nov. 30, 2024
Segment information        
Sales revenue, net $ 512,829 $ 530,706 $ 1,316,265 $ 1,421,774
Domestic sales revenue, net        
Segment information        
Sales revenue, net 393,267 400,539 1,001,723 1,066,969
International sales revenue, net        
Segment information        
Sales revenue, net $ 119,562 $ 130,167 $ 314,542 $ 354,805
Revenue from Contract with Customer Benchmark | Geographic concentration        
Segment information        
Concentration risk percentage 100.00% 100.00% 100.00% 100.00%
Revenue from Contract with Customer Benchmark | Geographic concentration | Domestic sales revenue, net        
Segment information        
Concentration risk percentage 76.70% 75.50% 76.10% 75.00%
Revenue from Contract with Customer Benchmark | Geographic concentration | International sales revenue, net        
Segment information        
Concentration risk percentage 23.30% 24.50% 23.90% 25.00%
v3.25.4
Income Taxes (Details) - USD ($)
 3 Months Ended 9 Months Ended
Nov. 30, 2025
Nov. 30, 2024
May 31, 2024
Nov. 30, 2025
Nov. 30, 2024
Feb. 28, 2025
Effective Income Tax Rate Reconciliation [Line Items]            
Transitional income tax benefit due to reorganization           $ 64,600,000
Deferred tax assets           $ 74,000,000
Asset impairment charges $ 65,906,000 $ 0   $ 806,685,000 $ 0  
Nondeductible goodwill impairment loss 37,700,000     548,700,000    
Tax expense related to the asset impairment charge 15,500,000     15,500,000    
Deferred tax assets, valuation allowance 34,800,000     64,800,000    
Income tax expense 60,042,000 13,536,000   69,176,000 30,444,000  
(Loss) income before income tax (24,014,000) 63,152,000   (774,241,000) 103,278,000  
Operating Segments            
Effective Income Tax Rate Reconciliation [Line Items]            
Asset impairment charges $ 65,906,000 $ 0   $ 806,685,000 $ 0  
Foreign Tax Authority | Barbados Revenue Authority            
Effective Income Tax Rate Reconciliation [Line Items]            
Discrete tax charge due to change in legislation     $ 6,000,000      
v3.25.4
Earnings Per Share (Details) - shares
shares in Thousands
 3 Months Ended 9 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Nov. 30, 2025
Nov. 30, 2024
Weighted average diluted securities        
Weighted average shares outstanding, basic (in shares) 23,035 22,853 22,979 23,064
Incremental shares from share-based payment arrangements (in shares) 0 29 0 54
Weighted average shares outstanding, diluted (in shares) 23,035 22,882 22,979 23,118
Antidilutive securities (in shares) 145   75  
Anti-dilutive securities        
Weighted average diluted securities        
Antidilutive securities (in shares) 421 123 435 134