For the second quarter ended June 30, net sales were $109.2 million, down 48.2 percent from a year earlier. Analysts polled by Factset had forecasted $130 million. Direct-to-consumer sales came in at $38.5 million, down 6.4 percent, and specialty retail sales were $29.8 million, 53.7 percent lower than in the prior-year period.Wong told WWD in an interview that Olaplex continues to be negatively impacted by competition, a more promotional environment and misinformation related to the brand.
And during a call with investors, Wong highlighted the importance of working with the professional community, which is how customers are often first introduced to the brand.
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