HELEN OF TROY LTD, 10-Q filed on 7/10/2025
Quarterly Report
v3.25.2
Cover page - shares
 3 Months Ended
May 31, 2025
Jul. 01, 2025
Entity Addresses [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date May 31, 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, $0.10 par value per share  
Trading Symbol HELE  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   22,955,346
Entity Central Index Key 0000916789  
Current Fiscal Year End Date --02-28  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Amendment Flag false  
Other Address    
Entity Addresses [Line Items]    
Entity Address, Address Line One Clarendon House  
Entity Address, Address Line Two 2 Church Street  
Entity Address, City or Town Hamilton  
Entity Address, Postal Zip Code HM 11  
Entity Address, Country BM  
v3.25.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
May 31, 2025
Feb. 28, 2025
Assets, current:    
Cash and cash equivalents $ 22,669 $ 18,867
Receivables, less allowances of $4,934 and $4,294 314,814 428,330
Inventory 484,127 452,615
Prepaid expenses and other current assets 25,163 26,102
Income taxes receivable 8,642 5,798
Total assets, current 855,415 931,712
Property and equipment, net of accumulated depreciation of $207,871 and $200,176 332,359 330,029
Goodwill 861,786 1,182,899
Other intangible assets, net of accumulated amortization of $210,746 and $205,757 466,182 566,756
Operating lease assets 35,925 35,063
Deferred tax assets, net 80,487 67,660
Other assets 19,809 17,964
Total assets 2,651,963 3,132,083
Liabilities, current:    
Accounts payable 228,145 269,405
Accrued expenses and other current liabilities 182,832 160,740
Income taxes payable 73,224 26,739
Long-term debt, current maturities 20,313 9,375
Total liabilities, current 504,514 466,259
Long-term debt, excluding current maturities 850,700 907,519
Lease liabilities, non-current 41,003 39,949
Deferred tax liabilities, net 20,579 29,283
Other liabilities, non-current 7,481 5,634
Total liabilities 1,424,277 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; 22,944,677 and 22,856,066 shares issued and outstanding 2,294 2,286
Additional paid in capital 367,819 367,106
Accumulated other comprehensive (loss) income (3,478) 2,278
Retained earnings 861,051 1,311,769
Total stockholders' equity 1,227,686 1,683,439
Total liabilities and stockholders' equity $ 2,651,963 $ 3,132,083
v3.25.2
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)
$ in Thousands
May 31, 2025
Feb. 28, 2025
Statement of Financial Position [Abstract]    
Allowance on receivables $ 4,934 $ 4,294
Property and equipment, accumulated depreciation 207,871 200,176
Accumulated Amortization $ 210,746 $ 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) 22,944,677 22,856,066
Common stock, shares outstanding (in shares) 22,944,677 22,856,066
v3.25.2
Condensed Consolidated Statements of (Loss) Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
May 31, 2025
May 31, 2024
Income Statement [Abstract]    
Sales revenue, net $ 371,655 $ 416,847
Cost of goods sold 196,644 213,768
Gross profit 175,011 203,079
Selling, general and administrative expense (“SG&A”) 167,664 170,481
Asset impairment charges 414,385 0
Restructuring charges 0 1,835
Operating (loss) income (407,038) 30,763
Non-operating income, net 308 100
Interest expense 13,808 12,543
(Loss) income before income tax (420,538) 18,320
Income tax expense 30,180 12,116
Net (loss) income $ (450,718) $ 6,204
(Loss) earnings per share:    
Basic (in dollars per share) $ (19.65) $ 0.26
Diluted (in dollars per share) $ (19.65) $ 0.26
Weighted average shares used in computing (loss) earnings per share:    
Basic (in shares) 22,943 23,524
Diluted (in shares) 22,943 23,633
v3.25.2
Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
May 31, 2025
May 31, 2024
Statement of Comprehensive Income [Abstract]    
Net (loss) income $ (450,718) $ 6,204
Other comprehensive income (loss), net of tax:    
Cash flow hedge activity - interest rate swaps 1,292 925
Cash flow hedge activity - foreign currency contracts (7,048) (227)
Total other comprehensive (loss) income, net of tax (5,756) 698
Comprehensive (loss) income $ (456,474) $ 6,902
v3.25.2
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. 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
v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
May 31, 2025
May 31, 2024
Cash provided by operating activities:    
Net (loss) income $ (450,718) $ 6,204
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 14,084 13,836
Amortization of financing costs 369 319
Non-cash operating lease expense 2,189 2,878
Provision for credit losses 621 88
Non-cash share-based compensation 296 5,833
Asset impairment charges 414,385 0
Gain on the sale or disposal of property and equipment (39) (29)
Deferred income taxes and tax credits (19,988) 10,445
Changes in operating capital, net of effects of acquisition of business:    
Receivables 114,092 64,595
Inventory (31,512) (48,754)
Prepaid expenses and other current assets (1,777) (3,565)
Other assets and liabilities, net (271) 327
Accounts payable (42,372) 2,350
Accrued expenses and other current liabilities 15,019 (19,465)
Accrued income taxes 43,960 (9,742)
Net cash provided by operating activities 58,338 25,320
Cash used by investing activities:    
Capital and intangible asset expenditures (13,362) (9,142)
Net proceeds from business acquired, net of cash acquired 3,880 0
Payments for purchases of U.S. Treasury Bills (687) (683)
Proceeds from the maturity of U.S. Treasury Bills 639 626
Proceeds from the sale of property and equipment 46 38
Net cash used by investing activities (9,484) (9,161)
Cash used by financing activities:    
Proceeds from revolving loans 131,500 314,040
Repayment of revolving loans (424,200) (230,090)
Proceeds from term loans 250,000 0
Repayment of long-term debt (2,344) (1,563)
Payment of financing costs (434) (222)
Proceeds from share issuances under share-based compensation plans 1,757 2,358
Payments for repurchases of common stock (1,331) (103,035)
Net cash used by financing activities (45,052) (18,512)
Net increase (decrease) in cash and cash equivalents 3,802 (2,353)
Cash and cash equivalents, beginning balance 18,867 18,501
Cash and cash equivalents, ending balance 22,669 16,148
Supplemental non-cash investing activity:    
Capital expenditures included in accounts payable and accrued expenses $ 6,670 $ 5,647
v3.25.2
Basis of Presentation and Related Information
 3 Months Ended
May 31, 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 May 31, 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 May 31, 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.
v3.25.2
New Accounting Pronouncements
 3 Months Ended
May 31, 2025
Accounting Changes and Error Corrections [Abstract]  
New Accounting Pronouncements
Note 2 - New Accounting Pronouncements

There have been no changes in the information provided in our Form 10-K.
v3.25.2
Accrued Expenses and Other Current Liabilities
 3 Months Ended
May 31, 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)May 31, 2025February 28, 2025
Accrued compensation, benefits and payroll taxes$24,195 $16,096 
Accrued sales discounts and allowances43,897 36,600 
Accrued sales returns21,619 20,190 
Accrued advertising28,193 25,716 
Other64,928 62,138 
Total accrued expenses and other current liabilities$182,832 $160,740 
v3.25.2
Acquisition of Olive & June
 3 Months Ended
May 31, 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.

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 
Goodwill150,681 
Trade names - definite51,000 
Customer relationships - definite8,000 
Other intangible assets - definite1,600 
Other assets275 
Total assets245,269 
Liabilities:
Accounts payable5,614 
Accrued expenses and other current liabilities12,686 
Other liabilities, non-current2,300 
Total liabilities20,600 
Net assets recorded$224,669 
v3.25.2
Goodwill and Intangibles
 3 Months Ended
May 31, 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 quarter 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 this conclusion 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 quarter 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.

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 a quantitative impairment test 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 asset impairment charges totaling $414.4 million and a charge of $16.5 million to tax expense to record a valuation allowance against a related deferred tax asset during the first quarter of fiscal 2026. Asset impairment charges recognized for our Home & Outdoor segment totaled $219.1 million and included charges for our Hydro Flask and Osprey businesses of $120.8 million and $98.3 million, respectively. Asset impairment charges recognized for our Beauty & Wellness segment totaled $195.3 million and included charges for our Drybar, Curlsmith, Health & Wellness and Revlon businesses of $103.7 million, $36.2 million, $35.8 million and $19.6 million, respectively. In connection with our annual budgeting and forecasting process, management reduced its forecasts for net sales revenue growth, 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. 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 three month period ended May 31, 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)
— (4,158)(4,158)
Impairment charges (2)
(167,521)(149,434)(316,955)
Gross carrying amount as of May 31, 2025
$491,777 $725,634 $1,217,411 
Accumulated impairment as of May 31, 2025
(167,521)(188,104)(355,625)
Net carrying amount as of May 31, 2025
$324,256 $537,530 $861,786 

(1)Reflects a favorable post-closing adjustment to goodwill recorded in the Beauty & Wellness segment during the first quarter of fiscal 2026 in connection with the acquisition of Olive & June on December 16, 2024. For additional information see Note 4.

(2)Reflects the goodwill impairment charges of $93.3 million and $74.2 million related to our Osprey and Hydro Flask reporting units, respectively, recorded in the Home & Outdoor segment and $87.3 million, $32.4 million and $29.7 million related to our Drybar, Curlsmith and Heath & Wellness reporting units, respectively, recorded in the Beauty & Wellness segment. The remaining carrying values of the Osprey, Hydro Flask, Drybar, Curlsmith and Health & Wellness reporting units' goodwill as of May 31, 2025 were $116.4 million, $41.7 million, $47.0 million, $84.7 million and $255.1 million, respectively.

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

May 31, 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)
310,200 — 310,200 358,200 — 358,200 
Definite-lived:
Trademark licenses (2)
57,154 (10,030)47,124 75,050 (9,454)65,596 
Trade names (3)
82,688 (15,321)67,367 89,365 (14,030)75,335 
Customer relationships and lists (4)
148,700 (123,303)24,397 168,201 (120,932)47,269 
Other intangibles (5)
70,786 (62,092)8,694 74,297 (61,341)12,956 
Total $676,928 $(210,746)$466,182 $772,513 $(205,757)$566,756 

(1)Balances as of May 31, 2025 reflect total impairment charges of $48.0 million recognized during the first quarter of fiscal 2026, which includes $37.0 million, $5.0 million and $6.0 million related to our Hydro Flask, Osprey and PUR trade names, respectively. The remaining carrying values of the Hydro Flask, Osprey and PUR trade names as of May 31, 2025 were $22.0 million, $165.0 million and $48.0 million, respectively. These impairment charges for Hydro Flask and Osprey were recorded in the Home & Outdoor segment. The impairment charge for PUR was recorded in the Beauty & Wellness segment.

(2)Balances as of May 31, 2025 reflect an impairment charge recorded during the first quarter of fiscal 2026 in the Beauty & Wellness segment of $19.6 million related to our Revlon trademark license. The remaining carrying value of this trademark license as of May 31, 2025 was $44.8 million.

(3)Balances as of May 31, 2025 reflect total impairment charges recorded during the first quarter of fiscal 2026 in the Beauty & Wellness segment of $6.7 million, which includes $3.9 million and $2.8 million related to our Curlsmith and Drybar trade names, respectively. The remaining carrying values of the Curlsmith and Drybar trade names as of May 31, 2025 were $13.9 million and $4.0 million, respectively.
(4)Balances as of May 31, 2025 reflect total impairment charges of $19.5 million recognized during the first quarter of fiscal 2026, 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, respectively, which reduced the carrying values of these assets to zero.

(5)Balances as of May 31, 2025 reflect total impairment charges of $3.6 million recognized during the first quarter of fiscal 2026, 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, respectively, which reduced the carrying values of these assets to zero.

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

Estimated Amortization Expense (in thousands)
 
Fiscal 2026
$16,555 
Fiscal 202711,944 
Fiscal 20289,277 
Fiscal 20299,249 
Fiscal 20308,993 
Fiscal 2031
8,203 
v3.25.2
Share-Based Compensation Plans
 3 Months Ended
May 31, 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.

We recorded share-based compensation expense in SG&A as follows:
 Three Months Ended May 31,
(in thousands)
2025 (1)
2024
Directors' stock compensation
$196 $196 
Service Condition Awards3,941 2,568 
Performance Condition Awards(4,526)1,047 
Market Condition Awards124 1,395 
Employee stock purchase plan561 627 
Share-based compensation expense296 5,833 
Less: income tax benefits
(157)(264)
Share-based compensation expense, net of income tax benefits$139 $5,569 
(1)Share-based compensation expense during the first quarter of fiscal 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 May 31, 2025, our total unrecognized share-based compensation for all awards was $39.0 million, which will be recognized over a weighted average amortization period of 2.2 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.
v3.25.2
Repurchases of Common Stock
 3 Months Ended
May 31, 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 May 31, 2025, our repurchase authorization allowed for the purchase of $498.6 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 purchases and retirements of shares.

The following table summarizes our share repurchase activity for the periods shown:
 Three Months Ended May 31,
(in thousands, except share and per share data)20252024
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 shares24,660 25,372 
Aggregate value of shares$1,331 $3,016 
Average price per share$53.96 $118.85 
v3.25.2
Restructuring Plan
 3 Months Ended
May 31, 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.

We did not incur any restructuring charges during the first quarter of fiscal 2025. During the three month period ended May 31, 2024, we incurred $1.8 million of pre-tax restructuring costs in connection with Project Pegasus, which were primarily comprised of severance and employee related costs. We made total cash restructuring payments of $2.9 million and $3.0 million during the three month periods ended May 31, 2025 and 2024, respectively, and had a remaining liability of $4.8 million as of May 31, 2025 which is included in accrued expenses and other current liabilities. The cash payments during both the three month periods ended May 31, 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.”
v3.25.2
Commitments and Contingencies
 3 Months Ended
May 31, 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 is appealing 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 has been scheduled for August 5, 2025. The Patent Litigation remains stayed for the time being. We cannot predict the outcome of these legal proceedings, the amount or range of any potential loss, when the proceedings will be resolved, or customer acceptance of any replacement water filter. Litigation is inherently unpredictable, and the resolution or disposition of these proceedings could, if adversely determined, have a material and adverse impact on our financial position and results of operations.

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.”
v3.25.2
Long-Term Debt
 3 Months Ended
May 31, 2025
Debt Disclosure [Abstract]  
Long-Term Debt
Note 10 - Long-Term Debt

A summary of our long-term debt follows:
(in thousands)May 31, 2025February 28, 2025
Credit Agreement (1):
Revolving loans$385,400 $678,100 
Term loans491,406 243,750 
Total borrowings under Credit Agreement876,806 921,850 
Unamortized prepaid financing fees(5,793)(4,956)
Total long-term debt871,013 916,894 
Less: current maturities of long-term debt(20,313)(9,375)
Long-term debt, excluding current maturities$850,700 $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 May 31, 2025 and February 28, 2025 were 5.8% and 5.6%, respectively.

Credit Agreement

We have 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 may be borrowed in 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 will begin 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 $750 million and $550 million of the outstanding principal balance under the Credit Agreement as of May 31, 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 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 is 4.50 to 1.00 through November 30, 2025 and 3.50 to 1.00 thereafter. For additional information on the acquisition, see Note 4.

As of May 31, 2025, the balance of outstanding letters of credit was $9.5 million, the amount available for revolving loans under the Credit Agreement was $605.1 million and the amount available per the maximum leverage ratio was $346.7 million. Covenants in the Credit Agreement limit the amount of total indebtedness we can incur. As of May 31, 2025, these covenants effectively limited our ability to incur more than $346.7 million of additional debt from all sources, including the Credit Agreement.

Debt Covenants

As of May 31, 2025, we were in compliance with all covenants as defined under the terms of the Credit Agreement.
v3.25.2
Fair Value
 3 Months Ended
May 31, 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)May 31, 2025February 28, 2025
Assets: 
Cash equivalents (money market accounts)$3,265 $3,852 
U.S. Treasury Bills
11,380 11,268 
Interest rate swaps2,529 1,065 
Foreign currency derivatives266 2,163 
Total assets$17,440 $18,348 
  
Liabilities: 
Interest rate swaps$— $221 
Contingent consideration
4,100 4,100 
Foreign currency derivatives7,356 119 
Total liabilities$11,456 $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 May 31, 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 May 31, 2025 and February 28, 2025, the non-current carrying amounts of our U.S. Treasury Bills were $8.8 million and $8.7 million, respectively, and were included within other assets in our condensed consolidated balance sheets.

The carrying amounts of cash, accounts payable, accrued expenses and other current liabilities and income taxes 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 less than one to five years. As of both May 31, 2025 and February 28, 2025, gross unrealized gains were $0.1 million and losses were not material. During the three month periods ended May 31, 2025 and 2024, we recognized interest income on these investments of $0.1 million and an immaterial amount, respectively, which is included in “Non-operating income, net” in our condensed consolidated statements of (loss) income.

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 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 the end of the first quarter of fiscal 2026, there was no change to the estimated fair value of the contingent consideration liability. 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 to the acquisition date and current reporting period using an estimated discount rate of 13%. Adjusted EBITDA volatility was calculated based upon peer companies, and the third quartile of 46% was selected as a key input into the Monte Carlo simulation model. In the simulated scenarios where a payment is earned, the projected contingent payments were discounted to the acquisition date and current reporting period using an estimated credit risk discount rate of 7.1%. 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.

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.

Non-Recurring Fair Value Measurements

Assets remeasured to fair value on a non-recurring basis during the first quarter of fiscal 2026 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 first quarter of fiscal 2025.

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)May 31, 2025Level 1Level 2Level 3
Goodwill$861,786 $— $— $861,786 $316,955 
Indefinite-lived intangible assets
317,600 — — 317,600 48,000 
Definite-lived intangible assets
148,582 — — 148,582 49,430 
Total$1,327,968 $— $— $1,327,968 $414,385 

During the first quarter of fiscal 2026, our impairment testing resulted in impairment charges of $317.0 million, $48.0 million and $49.4 million to reduce the carrying values of our goodwill, indefinite-lived intangible assets and definite-lived intangible assets to their estimated fair values of $861.8 million, $317.6 million and $148.6 million, respectively. Refer to Note 5 for additional information on the assets impaired and their remaining carrying values as of May 31, 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 our indefinite-lived intangible assets and our definite-lived intangible assets was a royalty rate that ranged from 1.4% 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.”
v3.25.2
Financial Instruments and Risk Management
 3 Months Ended
May 31, 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 16% of our net sales revenue was denominated in foreign currencies during both the three month periods ended May 31, 2025 and 2024, respectively. These sales were primarily denominated in Euros, Canadian Dollars and British Pounds. 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 expense, and all other foreign currency exchange rate gains and losses are recognized in SG&A. During the three month periods ended May 31, 2025 and 2024, we recorded foreign currency exchange rate net gains of $6.6 million and net losses of $0.1 million, respectively, in income tax expense. During the three month periods ended May 31, 2025 and 2024, we recorded foreign currency exchange rate net gains of $1.7 million and an immaterial amount, respectively, in SG&A. 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 Income (Loss) (“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 May 31, 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 $876.8 million and $921.9 million as of May 31, 2025 and February 28, 2025, respectively. As of May 31, 2025 and February 28, 2025, $750 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)May 31, 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 flow2/2027€97,800 $84 $177 $3,418 $260 
Forward contracts - sell Canadian DollarsCash flow2/2027$52,900 — — 821 316 
Forward contracts - sell PoundsCash flow12/2027£49,400 — 5 1,369 945 
Forward contracts - sell Norwegian KronerCash flow2/2027kr35,000 — — 51 6 
Interest rate swaps (1)
Cash flow8/2027$850,000 1,537 992 — — 
Subtotal   1,621 1,174 5,659 1,527 
Derivatives not designated under hedge accounting       
Forward contracts - sell Euro
(2)6/2025€4,080 — — 67 — 
Forward contracts - sell Pounds
(2)6/2025£5,000 — — 103 — 
Subtotal   — — 170 — 
Total fair value$1,621 $1,174 $5,829 $1,527 
(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 May 31,
 Gain (Loss)
Recognized in AOCI		Gain (Loss) Reclassified
from AOCI into Income
(in thousands)20252024Location20252024
Foreign currency contracts - cash flow hedges$(9,707)$(108)Sales revenue, net$(723)$184 
Interest rate swaps - cash flow hedges2,613 2,292 Interest expense928 1,084 
Total$(7,094)$2,184  $205 $1,268 

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 May 31,
(in thousands)Location20252024
Forward contractsSG&A$(336)$22 
Total $(336)$22 

We expect a net loss of $4.0 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.
v3.25.2
Accumulated Other Comprehensive Income (Loss)
 3 Months Ended
May 31, 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 (loss) before reclassification
2,292 (108)2,184 
Amounts reclassified out of AOCI(1,084)(184)(1,268)
Tax effects(283)65 (218)
Other comprehensive income (loss)
925 (227)698 
Balance at May 31, 2024$2,842 $(45)$2,797 
Balance at February 28, 2025$646 $1,632 $2,278 
Other comprehensive income (loss) before reclassification
2,613 (9,707)(7,094)
Amounts reclassified out of AOCI(928)723 (205)
Tax effects(393)1,936 1,543 
Other comprehensive income (loss)
1,292 (7,048)(5,756)
Balance at May 31, 2025$1,938 $(5,416)$(3,478)
See Notes 11 and 12 for additional information regarding our cash flow hedges.
v3.25.2
Segment and Geographic Information
 3 Months Ended
May 31, 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 May 31, 2025
(in thousands)Home & Outdoor
Beauty & Wellness (1)
Total
Sales revenue, net$177,983 $193,672 $371,655 
Less: (2)
Cost of goods sold89,893 106,751 196,644 
Operating expense (3)
301,883 280,166 582,049 
Operating loss
$(213,793)$(193,245)$(407,038)
Non-operating income, net308 
Interest expense13,808 
Loss before income tax
$(420,538)

Three Months Ended May 31, 2024
(in thousands)Home & OutdoorBeauty & WellnessTotal
Sales revenue, net$198,459 $218,388 $416,847 
Less: (2)
Cost of goods sold94,226 119,542 213,768 
Operating expense (3)
88,383 83,933 172,316 
Operating income$15,850 $14,913 $30,763 
Non-operating income, net100 
Interest expense12,543 
Income before income tax$18,320 
(1)Fiscal 2026 includes a full quarter 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. Fiscal 2026 operating expense also includes asset impairment charges of $414.4 million, of which $219.1 million and $195.3 million was recognized in our Home & Outdoor and Beauty & Wellness segments, respectively. Fiscal 2025 operating expense also includes restructuring charges. See Note 5 for further information on the asset impairment charges and Note 8 for further information on our global restructuring plan.

The following tables summarize reportable segment information for the periods presented:
Three Months Ended May 31, 2025
(in thousands)Home & Outdoor
Beauty & Wellness (1)
Total
Capital and intangible asset expenditures$6,983 $6,379 $13,362 
Depreciation and amortization6,559 7,525 14,084 
Non-cash share-based compensation34 262 296 
Asset impairment charges
219,095 195,290 414,385 
Three Months Ended May 31, 2024
(in thousands)Home & Outdoor
Beauty & Wellness
Total
Capital and intangible asset expenditures$5,745 $3,397 $9,142 
Depreciation and amortization6,647 7,189 13,836 
Non-cash share-based compensation3,013 2,820 5,833 
(1)Fiscal 2026 includes a full quarter 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 May 31,
(in thousands)20252024
Domestic sales revenue, net (1)
$277,960 74.8 %$300,680 72.1 %
International sales revenue, net93,695 25.2 %116,167 27.9 %
Total sales revenue, net$371,655 100.0 %$416,847 100.0 %
(1)Domestic net sales revenue includes net sales revenue from the U.S. and Canada.
v3.25.2
Income Taxes
 3 Months Ended
May 31, 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.

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 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, partially offset by taxes associated with the transfer.

In response to Pillar Two, on May 24, 2024, Barbados enacted a domestic corporate income tax rate of 9%, effective for our fiscal 2025. We incorporated this corporate income tax into our estimated annual effective tax rate increasing our income tax provision beginning in the first quarter of fiscal 2025. In addition, we revalued our existing deferred tax liabilities subject to the Barbados legislation, which resulted in a discrete tax charge of $6.0 million during the first quarter of fiscal 2025. Additionally, Barbados enacted a domestic minimum top-up tax (“DMTT”) of 15% which was effective beginning with our fiscal 2026. As a result of the reorganization of our intangible assets described above, the Barbados DMTT will not have a material impact on our condensed consolidated financial statements.
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 ongoing effective tax rate, excluding discrete or non-recurring items, to increase relative to historical periods due to the impact of global tax reform initiatives, including the implementation of Pillar Two and economic substance regulations. As additional jurisdictions implement or revise legislation in response to these reforms, we may 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 intangible asset impairment charges described below and in Note 5.

During the first quarter of fiscal 2026, we recognized a goodwill and other intangible asset impairment charge of $414.4 million, which included $265.0 million of non-deductible goodwill that will not result in a tax benefit. The expected tax benefit of the impairment charge of $24.2 million 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 period in which the charge was incurred. Our estimated annual effective tax rate for fiscal 2026 is negative, which when applied to the quarter-to-date loss in the first quarter, results in a quarter-to-date tax expense in the first quarter of fiscal 2026.

The downward revisions to our internal forecasts utilized in our impairment testing during the first quarter of fiscal 2026 impacted our assessment of the future realizability of a related deferred tax asset, which led to the recording of a $16.5 million valuation allowance during the first quarter of fiscal 2026.

For the three months ended May 31, 2025, income tax expense was $30.2 million compared to $12.1 million for the same period last year. The year-over-year increase in tax expense is primarily due to the timing of the accounting for the tax impact of the impairment charge in the quarter and a related valuation allowance on intangible asset deferred tax assets, partially offset by a decrease in tax expense for discrete items.
v3.25.2
Earnings Per Share
 3 Months Ended
May 31, 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 May 31,
(in thousands)20252024
Weighted average shares outstanding, basic22,943 23,524 
Incremental shares from share-based compensation arrangements— 109 
Weighted average shares outstanding, diluted (1)
22,943 23,633 
Anti-dilutive securities430 125 
(1)Due to the net loss for the three months ended May 31, 2025, 28 thousand incremental shares from share-based compensation arrangements were excluded from the computation of diluted weighted average shares outstanding because their effect would be anti-dilutive.
v3.25.2
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended
May 31, 2025
May 31, 2024
Pay vs Performance Disclosure    
Net (loss) income $ (450,718) $ 6,204
v3.25.2
Insider Trading Arrangements
 3 Months Ended
May 31, 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
v3.25.2
Basis of Presentation and Related Information (Policies)
 3 Months Ended
May 31, 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.
New Accounting Pronouncements
There have been no changes in the information provided in our Form 10-K.
v3.25.2
Accrued Expenses and Other Current Liabilities (Tables)
 3 Months Ended
May 31, 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)May 31, 2025February 28, 2025
Accrued compensation, benefits and payroll taxes$24,195 $16,096 
Accrued sales discounts and allowances43,897 36,600 
Accrued sales returns21,619 20,190 
Accrued advertising28,193 25,716 
Other64,928 62,138 
Total accrued expenses and other current liabilities$182,832 $160,740 
v3.25.2
Acquisition of Olive & June (Tables)
 3 Months Ended
May 31, 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 
Goodwill150,681 
Trade names - definite51,000 
Customer relationships - definite8,000 
Other intangible assets - definite1,600 
Other assets275 
Total assets245,269 
Liabilities:
Accounts payable5,614 
Accrued expenses and other current liabilities12,686 
Other liabilities, non-current2,300 
Total liabilities20,600 
Net assets recorded$224,669 
v3.25.2
Goodwill and Intangibles (Tables)
 3 Months Ended
May 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The following table summarizes the changes in our goodwill by segment for the three month period ended May 31, 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)
— (4,158)(4,158)
Impairment charges (2)
(167,521)(149,434)(316,955)
Gross carrying amount as of May 31, 2025
$491,777 $725,634 $1,217,411 
Accumulated impairment as of May 31, 2025
(167,521)(188,104)(355,625)
Net carrying amount as of May 31, 2025
$324,256 $537,530 $861,786 

(1)Reflects a favorable post-closing adjustment to goodwill recorded in the Beauty & Wellness segment during the first quarter of fiscal 2026 in connection with the acquisition of Olive & June on December 16, 2024. For additional information see Note 4.
(2)Reflects the goodwill impairment charges of $93.3 million and $74.2 million related to our Osprey and Hydro Flask reporting units, respectively, recorded in the Home & Outdoor segment and $87.3 million, $32.4 million and $29.7 million related to our Drybar, Curlsmith and Heath & Wellness reporting units, respectively, recorded in the Beauty & Wellness segment. The remaining carrying values of the Osprey, Hydro Flask, Drybar, Curlsmith and Health & Wellness reporting units' goodwill as of May 31, 2025 were $116.4 million, $41.7 million, $47.0 million, $84.7 million and $255.1 million, respectively.
Schedule of Asset Impairment Charges
The following table summarizes the components of our other intangible assets as follows:

May 31, 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)
310,200 — 310,200 358,200 — 358,200 
Definite-lived:
Trademark licenses (2)
57,154 (10,030)47,124 75,050 (9,454)65,596 
Trade names (3)
82,688 (15,321)67,367 89,365 (14,030)75,335 
Customer relationships and lists (4)
148,700 (123,303)24,397 168,201 (120,932)47,269 
Other intangibles (5)
70,786 (62,092)8,694 74,297 (61,341)12,956 
Total $676,928 $(210,746)$466,182 $772,513 $(205,757)$566,756 

(1)Balances as of May 31, 2025 reflect total impairment charges of $48.0 million recognized during the first quarter of fiscal 2026, which includes $37.0 million, $5.0 million and $6.0 million related to our Hydro Flask, Osprey and PUR trade names, respectively. The remaining carrying values of the Hydro Flask, Osprey and PUR trade names as of May 31, 2025 were $22.0 million, $165.0 million and $48.0 million, respectively. These impairment charges for Hydro Flask and Osprey were recorded in the Home & Outdoor segment. The impairment charge for PUR was recorded in the Beauty & Wellness segment.

(2)Balances as of May 31, 2025 reflect an impairment charge recorded during the first quarter of fiscal 2026 in the Beauty & Wellness segment of $19.6 million related to our Revlon trademark license. The remaining carrying value of this trademark license as of May 31, 2025 was $44.8 million.

(3)Balances as of May 31, 2025 reflect total impairment charges recorded during the first quarter of fiscal 2026 in the Beauty & Wellness segment of $6.7 million, which includes $3.9 million and $2.8 million related to our Curlsmith and Drybar trade names, respectively. The remaining carrying values of the Curlsmith and Drybar trade names as of May 31, 2025 were $13.9 million and $4.0 million, respectively.
(4)Balances as of May 31, 2025 reflect total impairment charges of $19.5 million recognized during the first quarter of fiscal 2026, 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, respectively, which reduced the carrying values of these assets to zero.

(5)Balances as of May 31, 2025 reflect total impairment charges of $3.6 million recognized during the first quarter of fiscal 2026, 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, respectively, which reduced the carrying values of these assets to zero.
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
$16,555 
Fiscal 202711,944 
Fiscal 20289,277 
Fiscal 20299,249 
Fiscal 20308,993 
Fiscal 2031
8,203 
v3.25.2
Share-Based Compensation Plans (Tables)
 3 Months Ended
May 31, 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 May 31,
(in thousands)
2025 (1)
2024
Directors' stock compensation
$196 $196 
Service Condition Awards3,941 2,568 
Performance Condition Awards(4,526)1,047 
Market Condition Awards124 1,395 
Employee stock purchase plan561 627 
Share-based compensation expense296 5,833 
Less: income tax benefits
(157)(264)
Share-based compensation expense, net of income tax benefits$139 $5,569 
(1)Share-based compensation expense during the first quarter of fiscal 2025 includes a benefit for Performance Condition Awards, as a result of a change in estimate from target achievement to zero percent achievement for Performance Condition Awards granted during fiscal 2024.
v3.25.2
Repurchases of Common Stock (Tables)
 3 Months Ended
May 31, 2025
Equity [Abstract]  
Schedule of share repurchase activity
The following table summarizes our share repurchase activity for the periods shown:
 Three Months Ended May 31,
(in thousands, except share and per share data)20252024
Common stock repurchased on the open market: 
Number of shares— 1,011,243 
Aggregate value of shares$— $100,019 
Average price per share$— $98.91 
Common stock received in connection with share-based compensation:
Number of shares24,660 25,372 
Aggregate value of shares$1,331 $3,016 
Average price per share$53.96 $118.85 
v3.25.2
Long-Term Debt (Tables)
 3 Months Ended
May 31, 2025
Debt Disclosure [Abstract]  
Schedule of long-term debt
A summary of our long-term debt follows:
(in thousands)May 31, 2025February 28, 2025
Credit Agreement (1):
Revolving loans$385,400 $678,100 
Term loans491,406 243,750 
Total borrowings under Credit Agreement876,806 921,850 
Unamortized prepaid financing fees(5,793)(4,956)
Total long-term debt871,013 916,894 
Less: current maturities of long-term debt(20,313)(9,375)
Long-term debt, excluding current maturities$850,700 $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 May 31, 2025 and February 28, 2025 were 5.8% and 5.6%, respectively.
v3.25.2
Fair Value (Tables)
 3 Months Ended
May 31, 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)May 31, 2025February 28, 2025
Assets: 
Cash equivalents (money market accounts)$3,265 $3,852 
U.S. Treasury Bills
11,380 11,268 
Interest rate swaps2,529 1,065 
Foreign currency derivatives266 2,163 
Total assets$17,440 $18,348 
  
Liabilities: 
Interest rate swaps$— $221 
Contingent consideration
4,100 4,100 
Foreign currency derivatives7,356 119 
Total liabilities$11,456 $4,440 
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)May 31, 2025Level 1Level 2Level 3
Goodwill$861,786 $— $— $861,786 $316,955 
Indefinite-lived intangible assets
317,600 — — 317,600 48,000 
Definite-lived intangible assets
148,582 — — 148,582 49,430 
Total$1,327,968 $— $— $1,327,968 $414,385 
v3.25.2
Financial Instruments and Risk Management (Tables)
 3 Months Ended
May 31, 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)May 31, 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 flow2/2027€97,800 $84 $177 $3,418 $260 
Forward contracts - sell Canadian DollarsCash flow2/2027$52,900 — — 821 316 
Forward contracts - sell PoundsCash flow12/2027£49,400 — 5 1,369 945 
Forward contracts - sell Norwegian KronerCash flow2/2027kr35,000 — — 51 6 
Interest rate swaps (1)
Cash flow8/2027$850,000 1,537 992 — — 
Subtotal   1,621 1,174 5,659 1,527 
Derivatives not designated under hedge accounting       
Forward contracts - sell Euro
(2)6/2025€4,080 — — 67 — 
Forward contracts - sell Pounds
(2)6/2025£5,000 — — 103 — 
Subtotal   — — 170 — 
Total fair value$1,621 $1,174 $5,829 $1,527 
(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 $100 million that becomes effective on March 1, 2026.
(2)These forward contracts, for which we have not elected hedge accounting, hedge monetary net asset and liability positions for the notional amounts reported, creating an economic hedge against currency movements.
Schedule of pre-tax effect of derivative instruments designated as hedges
The pre-tax effects of derivative instruments designated as cash flow hedges were as follows for the periods presented:
 Three Months Ended May 31,
 Gain (Loss)
Recognized in AOCI		Gain (Loss) Reclassified
from AOCI into Income
(in thousands)20252024Location20252024
Foreign currency contracts - cash flow hedges$(9,707)$(108)Sales revenue, net$(723)$184 
Interest rate swaps - cash flow hedges2,613 2,292 Interest expense928 1,084 
Total$(7,094)$2,184  $205 $1,268 
Schedule of pre-tax effect of derivative instruments not designated as hedges
The pre-tax effects of derivative instruments not designated under hedge accounting were as follows for the periods presented:
 Gain (Loss) 
Recognized in Income
Three Months Ended May 31,
(in thousands)Location20252024
Forward contractsSG&A$(336)$22 
Total $(336)$22 
v3.25.2
Accumulated Other Comprehensive Income (Loss) (Tables)
 3 Months Ended
May 31, 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 (loss) before reclassification
2,292 (108)2,184 
Amounts reclassified out of AOCI(1,084)(184)(1,268)
Tax effects(283)65 (218)
Other comprehensive income (loss)
925 (227)698 
Balance at May 31, 2024$2,842 $(45)$2,797 
Balance at February 28, 2025$646 $1,632 $2,278 
Other comprehensive income (loss) before reclassification
2,613 (9,707)(7,094)
Amounts reclassified out of AOCI(928)723 (205)
Tax effects(393)1,936 1,543 
Other comprehensive income (loss)
1,292 (7,048)(5,756)
Balance at May 31, 2025$1,938 $(5,416)$(3,478)
v3.25.2
Segment and Geographic Information (Tables)
 3 Months Ended
May 31, 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 May 31, 2025
(in thousands)Home & Outdoor
Beauty & Wellness (1)
Total
Sales revenue, net$177,983 $193,672 $371,655 
Less: (2)
Cost of goods sold89,893 106,751 196,644 
Operating expense (3)
301,883 280,166 582,049 
Operating loss
$(213,793)$(193,245)$(407,038)
Non-operating income, net308 
Interest expense13,808 
Loss before income tax
$(420,538)

Three Months Ended May 31, 2024
(in thousands)Home & OutdoorBeauty & WellnessTotal
Sales revenue, net$198,459 $218,388 $416,847 
Less: (2)
Cost of goods sold94,226 119,542 213,768 
Operating expense (3)
88,383 83,933 172,316 
Operating income$15,850 $14,913 $30,763 
Non-operating income, net100 
Interest expense12,543 
Income before income tax$18,320 
(1)Fiscal 2026 includes a full quarter 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. Fiscal 2026 operating expense also includes asset impairment charges of $414.4 million, of which $219.1 million and $195.3 million was recognized in our Home & Outdoor and Beauty & Wellness segments, respectively. Fiscal 2025 operating expense also includes restructuring charges. See Note 5 for further information on the asset impairment charges and Note 8 for further information on our global restructuring plan.

The following tables summarize reportable segment information for the periods presented:
Three Months Ended May 31, 2025
(in thousands)Home & Outdoor
Beauty & Wellness (1)
Total
Capital and intangible asset expenditures$6,983 $6,379 $13,362 
Depreciation and amortization6,559 7,525 14,084 
Non-cash share-based compensation34 262 296 
Asset impairment charges
219,095 195,290 414,385 
Three Months Ended May 31, 2024
(in thousands)Home & Outdoor
Beauty & Wellness
Total
Capital and intangible asset expenditures$5,745 $3,397 $9,142 
Depreciation and amortization6,647 7,189 13,836 
Non-cash share-based compensation3,013 2,820 5,833 
(1)Fiscal 2026 includes a full quarter 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 May 31,
(in thousands)20252024
Domestic sales revenue, net (1)
$277,960 74.8 %$300,680 72.1 %
International sales revenue, net93,695 25.2 %116,167 27.9 %
Total sales revenue, net$371,655 100.0 %$416,847 100.0 %
(1)Domestic net sales revenue includes net sales revenue from the U.S. and Canada.
v3.25.2
Earnings Per Share (Tables)
 3 Months Ended
May 31, 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 May 31,
(in thousands)20252024
Weighted average shares outstanding, basic22,943 23,524 
Incremental shares from share-based compensation arrangements— 109 
Weighted average shares outstanding, diluted (1)
22,943 23,633 
Anti-dilutive securities430 125 
(1)Due to the net loss for the three months ended May 31, 2025, 28 thousand incremental shares from share-based compensation arrangements were excluded from the computation of diluted weighted average shares outstanding because their effect would be anti-dilutive.
v3.25.2
Basis of Presentation and Related Information (Details)
$ / shares in Units, $ in Thousands
 3 Months Ended
Dec. 16, 2024
USD ($)
May 31, 2025
USD ($)
segment
$ / shares
May 31, 2024
USD ($)
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    
Net proceeds from business acquired, net of cash acquired   $ (3,880) $ 0  
Olive and June, LLC        
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]        
Net proceeds from business acquired, net of cash acquired $ 224,700      
Increase (decrease) to purchase consideration due to working capital adjustment 3,900 $ 3,900    
Contingent cash consideration $ 15,000      
v3.25.2
Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Thousands
May 31, 2025
Feb. 28, 2025
Payables and Accruals [Abstract]    
Accrued compensation, benefits and payroll taxes $ 24,195 $ 16,096
Accrued sales discounts and allowances 43,897 36,600
Accrued sales returns 21,619 20,190
Accrued advertising 28,193 25,716
Other 64,928 62,138
Total accrued expenses and other current liabilities $ 182,832 $ 160,740
v3.25.2
Acquisition of Olive & June - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 16, 2024
May 31, 2025
May 31, 2024
Business Combination [Line Items]      
Net payments to acquire businesses   $ (3,880) $ 0
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 and 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    
Contingent consideration, liability, current 1,800    
Contingent consideration, liability, noncurrent $ 2,300    
Adjustment to goodwill, assets and liability balances   300  
Increase (decrease) to goodwill due to working capital adjustment   $ 3,900  
v3.25.2
Acquisition of Olive & June - Business Acquisitions, by Acquisition (Details) - USD ($)
$ in Thousands
May 31, 2025
Feb. 28, 2025
Dec. 16, 2024
Assets:      
Goodwill $ 861,786 $ 1,182,899  
Olive and June, LLC      
Assets:      
Receivables     $ 13,182
Inventory     15,121
Prepaid expenses and other current assets     3,920
Property and equipment     1,490
Goodwill     150,681
Other assets     275
Total assets     245,269
Liabilities:      
Accounts payable     5,614
Accrued expenses and other current liabilities     12,686
Other liabilities, non-current     2,300
Total liabilities     20,600
Net assets recorded     224,669
Olive and June, LLC | Trade names      
Assets:      
Finite lived intangible assets     51,000
Olive and June, LLC | Customer relationships      
Assets:      
Finite lived intangible assets     8,000
Olive and June, LLC | Other intangible assets      
Assets:      
Finite lived intangible assets     $ 1,600
v3.25.2
Goodwill and Intangibles - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 31, 2025
May 31, 2024
Finite-Lived Intangible Assets [Line Items]    
Asset impairment charges $ 414,385 $ 0
Change in deferred tax assets valuation allowance amount 16,500  
Definite-lived intangible assets 49,430  
Home & Outdoor Segment    
Finite-Lived Intangible Assets [Line Items]    
Definite-lived intangible assets 219,100  
Home & Outdoor Segment | Hydro Flask    
Finite-Lived Intangible Assets [Line Items]    
Definite-lived intangible assets 120,800  
Home & Outdoor Segment | Osprey    
Finite-Lived Intangible Assets [Line Items]    
Definite-lived intangible assets 98,300  
Beauty & Wellness Segment    
Finite-Lived Intangible Assets [Line Items]    
Definite-lived intangible assets 195,300  
Beauty & Wellness Segment | Drybar    
Finite-Lived Intangible Assets [Line Items]    
Definite-lived intangible assets 103,700  
Beauty & Wellness Segment | Curlsmith    
Finite-Lived Intangible Assets [Line Items]    
Definite-lived intangible assets 36,200  
Beauty & Wellness Segment | Health & Wellness    
Finite-Lived Intangible Assets [Line Items]    
Definite-lived intangible assets 35,800  
Beauty & Wellness Segment | Revlon Businesses    
Finite-Lived Intangible Assets [Line Items]    
Definite-lived intangible assets $ 19,600  
v3.25.2
Goodwill and Intangibles - Schedule of Asset Impairment Charges (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 31, 2025
Feb. 28, 2025
Goodwill [Line Items]    
Gross carrying value, beginning balance $ 1,221,569  
Accumulated impairment (355,625) $ (38,670)
Goodwill 861,786 1,182,899
Acquisitions (4,158)  
Impairment charges (316,955)  
Gross carrying value, ending balance 1,217,411  
Osprey Reporting Unit    
Goodwill [Line Items]    
Goodwill 116,400  
Hydro Flask Reporting Units    
Goodwill [Line Items]    
Goodwill 41,700  
Drybar Reporting Units    
Goodwill [Line Items]    
Goodwill 47,000  
Curlsmith Reporting Units    
Goodwill [Line Items]    
Goodwill 84,700  
Heath & Wellness Reporting Units    
Goodwill [Line Items]    
Goodwill 255,100  
Home & Outdoor    
Goodwill [Line Items]    
Gross carrying value, beginning balance 491,777  
Accumulated impairment (167,521) 0
Goodwill 324,256 491,777
Acquisitions 0  
Impairment charges (167,521)  
Gross carrying value, ending balance 491,777  
Home & Outdoor | Osprey Reporting Unit    
Goodwill [Line Items]    
Impairment charges (93,300)  
Home & Outdoor | Hydro Flask Reporting Units    
Goodwill [Line Items]    
Impairment charges (74,200)  
Beauty & Wellness    
Goodwill [Line Items]    
Gross carrying value, beginning balance 729,792  
Accumulated impairment (188,104) (38,670)
Goodwill 537,530 $ 691,122
Acquisitions (4,158)  
Impairment charges (149,434)  
Gross carrying value, ending balance 725,634  
Beauty & Wellness | Drybar Reporting Units    
Goodwill [Line Items]    
Impairment charges (87,300)  
Beauty & Wellness | Curlsmith Reporting Units    
Goodwill [Line Items]    
Impairment charges (32,400)  
Beauty & Wellness | Heath & Wellness Reporting Units    
Goodwill [Line Items]    
Impairment charges $ (29,700)  
v3.25.2
Intangible Assets, Goodwill and Other - Schedule of Asset Impairment Charges (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 31, 2025
May 31, 2024
Feb. 28, 2025
Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount $ 676,928   $ 772,513
Accumulated Amortization (210,746)   (205,757)
Net Carrying Amount 466,182   566,756
Impairment charges 49,430    
Asset impairment charges 414,385 $ 0  
Beauty & Wellness      
Finite-Lived Intangible Assets [Line Items]      
Impairment charges 6,700    
Home & Outdoor Segment      
Finite-Lived Intangible Assets [Line Items]      
Impairment charges 219,100    
Home & Outdoor Segment | Hydro Flask      
Finite-Lived Intangible Assets [Line Items]      
Impairment charges 120,800    
Home & Outdoor Segment | Osprey      
Finite-Lived Intangible Assets [Line Items]      
Impairment charges 98,300    
Trademark licenses      
Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount 57,154   75,050
Accumulated Amortization (10,030)   (9,454)
Net Carrying Amount 47,124   65,596
Trademark licenses | Beauty & Wellness      
Finite-Lived Intangible Assets [Line Items]      
Net Carrying Amount 44,800    
Impairment charges 19,600    
Trade names      
Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount 82,688   89,365
Accumulated Amortization (15,321)   (14,030)
Net Carrying Amount 67,367   75,335
Trade names | Beauty & Wellness | Curlsmith Reporting Unit      
Finite-Lived Intangible Assets [Line Items]      
Net Carrying Amount 13,900    
Impairment charges 3,900    
Trade names | Beauty & Wellness | Drybar Reporting Unit      
Finite-Lived Intangible Assets [Line Items]      
Net Carrying Amount 4,000    
Impairment charges 2,800    
Customer relationships and lists      
Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount 148,700   168,201
Accumulated Amortization (123,303)   (120,932)
Net Carrying Amount 24,397   47,269
Impairment charges 19,500    
Customer relationships and lists | Drybar and Hydro Flask Reporting Units      
Finite-Lived Intangible Assets [Line Items]      
Net Carrying Amount 0    
Customer relationships and lists | Beauty & Wellness | Drybar Reporting Unit      
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 intangible assets      
Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount 70,786   74,297
Accumulated Amortization (62,092)   (61,341)
Net Carrying Amount 8,694   12,956
Impairment charges 3,600    
Other intangible assets | Drybar and Hydro Flask Reporting Units      
Finite-Lived Intangible Assets [Line Items]      
Net Carrying Amount 0    
Other intangible assets | Beauty & Wellness | Drybar Reporting Unit      
Finite-Lived Intangible Assets [Line Items]      
Impairment charges 2,800    
Other intangible assets | 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
Trade names      
Finite-Lived Intangible Assets [Line Items]      
Infinite-lived intangible assets 310,200   $ 358,200
Impairment charges 48,000    
Trade names | Beauty & Wellness | PUR Trade Names      
Finite-Lived Intangible Assets [Line Items]      
Infinite-lived intangible assets 48,000    
Impairment charges 6,000    
Trade names | Home & Outdoor Segment | Hydro Flask      
Finite-Lived Intangible Assets [Line Items]      
Infinite-lived intangible assets 22,000    
Impairment charges 37,000    
Trade names | Home & Outdoor Segment | Osprey      
Finite-Lived Intangible Assets [Line Items]      
Infinite-lived intangible assets 165,000    
Impairment charges $ 5,000    
v3.25.2
Goodwill and Intangibles - Amortization (Details)
$ in Thousands
May 31, 2025
USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]  
Fiscal 2026 $ 16,555
Fiscal 2027 11,944
Fiscal 2028 9,277
Fiscal 2029 9,249
Fiscal 2030 8,993
Fiscal 2031 $ 8,203
v3.25.2
Share-Based Compensation Plans - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
May 31, 2025
Feb. 29, 2024
Share-based compensation plans    
Unrecognized share-based compensation $ 39.0  
Expected recognition period for unrecognized share-based compensation 2 years 2 months 12 days  
Target achievement for performance condition awards, as a percentage   0.00%
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  
v3.25.2
Share-Based Compensation Plans - Schedule of Share-based Compensation Expense in SG&A (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 31, 2025
May 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]    
Share-based compensation expense, net of income tax benefits $ 139 $ 5,569
SG&A    
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]    
Share-based compensation expense 296 5,833
Less: income tax benefits (157) (264)
Service Condition Awards | SG&A    
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]    
Share-based compensation expense 3,941 2,568
Performance Condition Awards | SG&A    
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]    
Share-based compensation expense (4,526) 1,047
Market Condition Awards | SG&A    
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]    
Share-based compensation expense 124 1,395
Employee stock purchase plan | SG&A    
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]    
Share-based compensation expense 561 627
Directors' stock compensation | SG&A    
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]    
Share-based compensation expense $ 196 $ 196
v3.25.2
Repurchases of Common Stock - Narrative (Details) - USD ($)
Aug. 20, 2024
May 31, 2025
Equity [Abstract]    
Amount of shares authorized for purchase $ 500,000,000  
Period for stock repurchase 3 years  
Remaining share repurchase amount   $ 498,600,000
v3.25.2
Repurchases of Common Stock - Schedule of Share Repurchase Activity (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
May 31, 2025
May 31, 2024
Repurchase of common stock    
Aggregate value of shares $ 1,331 $ 103,035
Stock Compensation Plan    
Repurchase of common stock    
Number of shares (in shares) 24,660 25,372
Aggregate value of shares $ 1,331 $ 3,016
Average price per share (in dollars per share) $ 53.96 $ 118.85
Open Market    
Repurchase of common stock    
Number of shares (in shares) 0 1,011,243
Aggregate value of shares $ 0 $ 100,019
Average price per share (in dollars per share) $ 0 $ 98.91
v3.25.2
Restructuring Plan - Narrative (Details) - USD ($)
 3 Months Ended
May 31, 2025
May 31, 2024
Feb. 28, 2025
Restructuring Plan      
Restructuring charges $ 0 $ 1,835,000  
Project Pegasus      
Restructuring Plan      
Restructuring reserve, current     $ 7,700,000
Restructuring charges 0 1,800,000  
Payments for restructuring 2,900,000 $ 3,000,000.0  
Restructuring liability $ 4,800,000    
v3.25.2
Commitments and Contingencies (Details)
Dec. 23, 2021
defendant
Commitments and Contingencies Disclosure [Abstract]  
Number of other companies named in litigation 5
v3.25.2
Long-Term Debt - Schedule of Long-term Debt (Details) - USD ($)
$ in Thousands
May 31, 2025
Feb. 28, 2025
Long-term debt    
Unamortized prepaid financing fees $ (5,793) $ (4,956)
Total long-term debt 871,013 916,894
Less: current maturities of long-term debt (20,313) (9,375)
Long-term debt, excluding current maturities $ 850,700 $ 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 $ 876,806 $ 921,850
Line of credit | Credit Agreement | Revolving loans    
Long-term debt    
Total borrowings under Credit Agreement 385,400 678,100
Line of credit | Credit Agreement | Term loans    
Long-term debt    
Total borrowings under Credit Agreement $ 491,406 $ 243,750
v3.25.2
Long-Term Debt - Narrative (Details)
$ in Thousands
 3 Months Ended 12 Months Ended
Feb. 15, 2024
USD ($)
May 31, 2025
USD ($)
Feb. 28, 2025
USD ($)
May 31, 2024
USD ($)
Feb. 28, 2025
USD ($)
Debt Instrument [Line Items]          
Proceeds from term loans   $ 250,000   $ 0  
Debt issuance costs, net   5,793 $ 4,956   $ 4,956
Maximum net leverage ratio 3.25        
Proceeds from revolving loans   131,500   $ 314,040  
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        
Line of credit          
Debt Instrument [Line Items]          
Maximum additional debt allowed under debt covenants   346,700      
Line of credit | Credit Agreement          
Debt Instrument [Line Items]          
Maximum allowable increase due to accordion feature $ 300,000        
Line of credit | Credit Agreement | Minimum | Base rate | Variable Rate Component One          
Debt Instrument [Line Items]          
Margin (as a percent) 0.00%        
Line of credit | Credit Agreement | Minimum | SOFR | Variable Rate Component Two          
Debt Instrument [Line Items]          
Margin (as a percent) 1.00%        
Line of credit | Credit Agreement | Maximum | Base rate | Variable Rate Component One          
Debt Instrument [Line Items]          
Margin (as a percent) 1.125%        
Line of credit | Credit Agreement | Maximum | SOFR | Variable Rate Component Two          
Debt Instrument [Line Items]          
Margin (as a percent) 2.125%        
Line of credit | Revolving loans | Credit Agreement          
Debt Instrument [Line Items]          
Maximum revolving commitment $ 1,000,000        
Proceeds from revolving credit facility 457,500        
Fixed rate debt   750,000 $ 550,000   $ 550,000
Amount available for borrowings   605,100      
Credit agreement, maximum leverage ratio, amount   346,700      
Line of credit | Letter of credit          
Debt Instrument [Line Items]          
Amount outstanding, letters of credit   9,500      
Line of credit | Letter of credit | Olive and June, LLC          
Debt Instrument [Line Items]          
Proceeds from revolving loans   235,000      
Line of credit | Letter of credit | Olive and June, LLC | Debt Instrument, Covenant Period One          
Debt Instrument [Line Items]          
Maximum net leverage ratio         3.50
Line of credit | Letter of credit | Olive and June, LLC | Debt Instrument, Covenant Period Two          
Debt Instrument [Line Items]          
Maximum net leverage ratio     4.50    
Line of credit | Letter of credit | Olive and June, LLC | Debt Instrument, Covenant Period Three          
Debt Instrument [Line Items]          
Maximum net leverage ratio     3.50    
Line of credit | Letter of credit | Credit Agreement          
Debt Instrument [Line Items]          
Maximum revolving commitment 50,000        
Line of credit | Term loans | Credit Agreement          
Debt Instrument [Line Items]          
Proceeds from term loan facility $ 250,000        
Line of credit | Term loans | Credit Agreement | Through February 28, 2025          
Debt Instrument [Line Items]          
Percent of term loans due quarterly 0.625%        
Line of credit | Term loans | Credit Agreement | Through February 28, 2026          
Debt Instrument [Line Items]          
Percent of term loans due quarterly 0.9375%        
Line of credit | Term loans | Credit Agreement | After February 28th, 2026          
Debt Instrument [Line Items]          
Percent of term loans due quarterly 1.25%        
Line of credit | Term loans | Delayed Draw Facility          
Debt Instrument [Line Items]          
Proceeds from term loans   250,000      
Debt issuance costs, net   $ 400      
Line of credit | Delayed Draw Term Loan (DDTL) | Credit Agreement          
Debt Instrument [Line Items]          
Aggregate principal amount $ 250,000        
v3.25.2
Fair Value - Schedule of Financial Assets and Liabilities (Details) - Recurring - Fair Values - Level 2 - USD ($)
$ in Thousands
May 31, 2025
Feb. 28, 2025
Assets:    
Cash equivalents (money market accounts) $ 3,265 $ 3,852
Total assets 17,440 18,348
Liabilities:    
Total liabilities 11,456 4,440
U.S. Treasury Bills    
Assets:    
U.S. Treasury Bills 11,380 11,268
Interest rate swaps    
Assets:    
Derivative assets 2,529 1,065
Liabilities:    
Derivative liabilities 0 221
Contingent consideration    
Liabilities:    
Derivative liabilities 4,100 4,100
Foreign currency derivatives    
Assets:    
Derivative assets 266 2,163
Liabilities:    
Derivative liabilities $ 7,356 $ 119
v3.25.2
Fair Value - Narrative (Details)
$ in Thousands
 3 Months Ended
May 31, 2025
USD ($)
Feb. 28, 2025
USD ($)
May 31, 2024
USD ($)
Dec. 16, 2024
USD ($)
Fair Value        
Investment income, interest $ 100   $ 0  
Impairment of goodwill 316,955      
Indefinite-lived intangible assets 48,000      
Definite-lived intangible assets 49,430      
Goodwill, fair value disclosure 861,800      
Indefinite-lived intangible assets 317,600      
Definite-lived intangible assets $ 148,600      
Olive and June, LLC        
Fair Value        
Contingent cash consideration       $ 15,000
Additional contingent consideration       4,100
Contingent consideration, liability, current       1,800
Contingent consideration, liability, noncurrent       $ 2,300
Olive and June, LLC | Level 3 | Measurement Input, Discount Rate        
Fair Value        
Contingent consideration, liability, measurement input 0.13      
Olive and June, LLC | Level 3 | Measurement Input, Adjusted EBITDA Volatility Rate        
Fair Value        
Contingent consideration, liability, measurement input 0.46      
Olive and June, LLC | Level 3 | Measurement Input, Credit Risk Discount        
Fair Value        
Contingent consideration, liability, measurement input 0.071      
Minimum        
Fair Value        
Intangible asset royalty rate 1.40%      
Maximum        
Fair Value        
Intangible asset royalty rate 5.50%      
U.S. Treasury Bills        
Fair Value        
US treasury bills, carrying value, current $ 2,600 $ 2,500    
US treasury bills, carrying value, non-current 8,800 8,700    
Debt securities, held-to-maturity, accumulated unrecognized gain 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 (less than one to five years) 1 year      
U.S. Treasury Bills | Maximum        
Fair Value        
Term of US treasury bills held to maturity (less than one to five years) 5 years      
v3.25.2
Fair Value - Schedule of Fair Value Measurements Nonrecurring (Details)
$ in Thousands
 3 Months Ended
May 31, 2025
USD ($)
Fair Value  
Goodwill $ 861,800
Indefinite-lived intangible assets 317,600
Definite-lived intangible assets 148,600
Impairment of goodwill 316,955
Indefinite-lived intangible assets 48,000
Definite-lived intangible assets 49,430
Total 414,385
Fair Value, Nonrecurring  
Fair Value  
Goodwill 861,786
Indefinite-lived intangible assets 317,600
Definite-lived intangible assets 148,582
Total 1,327,968
Fair Value, Nonrecurring | Level 1  
Fair Value  
Goodwill 0
Indefinite-lived intangible assets 0
Definite-lived intangible assets 0
Total 0
Fair Value, Nonrecurring | Level 2  
Fair Value  
Goodwill 0
Indefinite-lived intangible assets 0
Definite-lived intangible assets 0
Total 0
Fair Value, Nonrecurring | Level 3  
Fair Value  
Goodwill 861,786
Indefinite-lived intangible assets 317,600
Definite-lived intangible assets 148,582
Total $ 1,327,968
v3.25.2
Financial Instruments and Risk Management - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 31, 2025
May 31, 2024
Feb. 28, 2025
Foreign currency derivatives | Cash flow hedges      
Foreign Currency Risk and Currency Exchange Uncertainties      
Derivative instruments loss $ 4,000    
Period of reclassification to AOCI 12 months    
Credit agreement | Credit Agreement      
Foreign Currency Risk and Currency Exchange Uncertainties      
Aggregate principal balance $ 876,806   $ 921,850
Credit agreement | Credit Agreement | Revolving loans      
Foreign Currency Risk and Currency Exchange Uncertainties      
Aggregate principal balance 385,400   678,100
Fixed rate debt 750,000   $ 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 6,600 $ (100)  
SG&A      
Foreign Currency Risk and Currency Exchange Uncertainties      
Net foreign exchange (losses) gains, including the impact of currency hedges and currency swaps $ 1,700 $ 1,700  
Net sales revenue | Geographic concentration | International operations - transactions denominated in foreign currencies      
Foreign Currency Risk and Currency Exchange Uncertainties      
Concentration risk percentage 16.00% 16.00%  
v3.25.2
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 ($)
May 31, 2025
EUR (€)
May 31, 2025
USD ($)
May 31, 2025
CAD ($)
May 31, 2025
GBP (£)
May 31, 2025
NOK (kr)
Feb. 28, 2025
EUR (€)
Feb. 28, 2025
USD ($)
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     $ 1,621         $ 2,926      
Other Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     1,174         302      
Accrued Expenses and Other Current Liabilities                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     5,829         340      
Other Liabilities, Non- Current                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     1,527         0      
Derivatives designated as hedging instruments | Prepaid Expenses and Other Current Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     1,621         2,926      
Derivatives designated as hedging instruments | Other Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     1,174         302      
Derivatives designated as hedging instruments | Accrued Expenses and Other Current Liabilities                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     5,659         320      
Derivatives designated as hedging instruments | Other Liabilities, Non- Current                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative liabilities     1,527         0      
Derivatives designated as hedging instruments | Foreign currency derivatives | Sell                      
Fair values of derivative instruments in the consolidated balance sheet                      
Notional Amount   € 97,800   $ 52,900 £ 49,400 kr 35,000 € 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     84         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     177         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     3,418         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     260         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     0         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     0         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     821         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     316         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     0         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     5         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     1,369         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     945         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     0         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     0         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     51         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     6         0      
Derivatives designated as hedging instruments | Interest rate swaps                      
Fair values of derivative instruments in the consolidated balance sheet                      
Notional Amount     850,000         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     1,537         763      
Derivatives designated as hedging instruments | Interest rate swaps | Other Assets                      
Fair values of derivative instruments in the consolidated balance sheet                      
Derivative assets     992         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     0         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     0         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     0         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     170         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     67         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     0         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     103         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   € 4,080     £ 5,000   € 680     £ 1,280  
v3.25.2
Financial Instruments and Risk Management - Schedule of Derivative Tax Effect (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 31, 2025
May 31, 2024
Pre-tax effect of derivative instruments    
Gain (Loss) Recognized in AOCI $ (7,094) $ 2,184
Gain (Loss) Reclassified from AOCI into Income 205 1,268
Gain (Loss)  Recognized in Income (336) 22
Foreign currency derivatives | Cash flow hedges    
Pre-tax effect of derivative instruments    
Gain (Loss) Recognized in AOCI (9,707) (108)
Foreign currency derivatives | Cash flow hedges | SG&A    
Pre-tax effect of derivative instruments    
Gain (Loss) Reclassified from AOCI into Income (723) 184
Interest rate swaps | Cash flow hedges    
Pre-tax effect of derivative instruments    
Gain (Loss) Recognized in AOCI 2,613 2,292
Interest rate swaps | Cash flow hedges | Interest expense    
Pre-tax effect of derivative instruments    
Gain (Loss) Reclassified from AOCI into Income 928 1,084
Forward contracts | SG&A    
Pre-tax effect of derivative instruments    
Gain (Loss)  Recognized in Income $ (336) $ 22
v3.25.2
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 31, 2025
May 31, 2024
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance $ 1,683,439 $ 1,637,442
Other comprehensive income (loss) before reclassification (7,094) 2,184
Amounts reclassified out of AOCI (205) (1,268)
Tax effects 1,543 (218)
Total other comprehensive (loss) income, net of tax (5,756) 698
Ending balance 1,227,686 1,549,500
Total    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance 2,278 2,099
Total other comprehensive (loss) income, net of tax (5,756) 698
Ending balance (3,478) 2,797
Interest Rate Swaps    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance 646 1,917
Other comprehensive income (loss) before reclassification 2,613 2,292
Amounts reclassified out of AOCI (928) (1,084)
Tax effects (393) (283)
Total other comprehensive (loss) income, net of tax 1,292 925
Ending balance 1,938 2,842
Foreign Currency Contracts    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning balance 1,632 182
Other comprehensive income (loss) before reclassification (9,707) (108)
Amounts reclassified out of AOCI 723 (184)
Tax effects 1,936 65
Total other comprehensive (loss) income, net of tax (7,048) (227)
Ending balance $ (5,416) $ (45)
v3.25.2
Segment and Geographic Information - Narrative (Details)
 3 Months Ended
May 31, 2025
segment
Segment Reporting [Abstract]  
Number of segments 2
v3.25.2
Segment and Geographic Information - Schedule of Segment Information by Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 31, 2025
May 31, 2024
Segment information    
Sales revenue, net $ 371,655 $ 416,847
Cost of goods sold 196,644 213,768
Operating income (loss) (407,038) 30,763
Non-operating income, net 308 100
Interest expense 13,808 12,543
Income before income tax (420,538) 18,320
Asset impairment charges 414,385 0
Operating Segments    
Segment information    
Sales revenue, net 371,655 416,847
Cost of goods sold 196,644 213,768
Operating expenses 582,049 172,316
Operating income (loss) (407,038) 30,763
Asset impairment charges 414,385  
Home & Outdoor | Operating Segments    
Segment information    
Sales revenue, net 177,983 198,459
Cost of goods sold 89,893 94,226
Operating expenses 301,883 88,383
Operating income (loss) (213,793) 15,850
Asset impairment charges 219,095  
Beauty & Wellness | Operating Segments    
Segment information    
Sales revenue, net 193,672 218,388
Cost of goods sold 106,751 119,542
Operating expenses 280,166 83,933
Operating income (loss) (193,245) $ 14,913
Asset impairment charges $ 195,290  
v3.25.2
Segment and Geographic Information - Schedule of Reportable Segment Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 31, 2025
May 31, 2024
Segment information    
Depreciation and amortization $ 14,084 $ 13,836
Non-cash share-based compensation 296 5,833
Asset impairment charges 414,385 0
Operating Segments    
Segment information    
Capital and intangible asset expenditures 13,362 9,142
Depreciation and amortization 14,084 13,836
Non-cash share-based compensation 296 5,833
Asset impairment charges 414,385  
Home & Outdoor | Operating Segments    
Segment information    
Capital and intangible asset expenditures 6,983 5,745
Depreciation and amortization 6,559 6,647
Non-cash share-based compensation 34 3,013
Asset impairment charges 219,095  
Beauty & Wellness | Operating Segments    
Segment information    
Capital and intangible asset expenditures 6,379 3,397
Depreciation and amortization 7,525 7,189
Non-cash share-based compensation 262 $ 2,820
Asset impairment charges $ 195,290  
v3.25.2
Segment and Geographic Information - Schedule of Revenue by Domestic and International (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 31, 2025
May 31, 2024
Segment information    
Sales revenue, net $ 371,655 $ 416,847
Domestic sales revenue, net    
Segment information    
Sales revenue, net 277,960 300,680
International sales revenue, net    
Segment information    
Sales revenue, net $ 93,695 $ 116,167
Revenue from Contract with Customer Benchmark | Geographic concentration    
Segment information    
Concentration risk percentage 100.00% 100.00%
Revenue from Contract with Customer Benchmark | Geographic concentration | Domestic sales revenue, net    
Segment information    
Concentration risk percentage 74.80% 72.10%
Revenue from Contract with Customer Benchmark | Geographic concentration | International sales revenue, net    
Segment information    
Concentration risk percentage 25.20% 27.90%
v3.25.2
Income Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 31, 2025
May 31, 2024
Feb. 28, 2025
Effective Income Tax Rate Reconciliation [Line Items]      
Transitional income tax benefit due to reorganization     $ 64,600
Asset impairment charges $ 414,385 $ 0  
Nondeductible goodwill impairment loss 265,000    
Tax benefit related to the asset impairment charge 24,200    
Deferred tax assets, valuation allowance 16,500    
Income tax expense $ 30,180 12,116  
Foreign Tax Authority | Barbados Revenue Authority      
Effective Income Tax Rate Reconciliation [Line Items]      
Discrete tax charge due to change in legislation   $ 6,000  
v3.25.2
Earnings per Share - Schedule of components of basic and diluted shares (Details) - shares
shares in Thousands
 3 Months Ended
May 31, 2025
May 31, 2024
Weighted average diluted securities    
Weighted average shares outstanding, basic (in shares) 22,943 23,524
Incremental shares from share-based payment arrangements (in shares) 0 109
Weighted average shares outstanding, diluted (in shares) 22,943 23,633
Antidilutive securities (in shares) 28  
Anti-dilutive securities    
Weighted average diluted securities    
Antidilutive securities (in shares) 430 125