Kenvue Inc. announced on Thursday net sales increased 0.1% to $15.5 billion for the full year ended December 29, 2024, on the back of softer-than-expected sales growth. 

Fourth quarter, net sales decreased 0.1%. By segment, the self-care segment and the skin health and beauty segment climbed 2.1% year-over-year to $1.59 billion in net sales, and 1% to $1.01 billion, respectively. Meanwhile, the essential health segment recorded a 4.1% drop in fourth-quarter net sales to $1.08 billion.

Kenvue-owned brands include Neutrogena, Aveeno, Band-Aid Brand, Johnson’s, Listerine, and Tylenol.

“We delivered on our 2024 profit commitments despite headwinds that resulted in softer than expected sales growth and we enter 2025 as a more competitive company with stronger foundations,” said Thibaut Mongon, chief executive officer. 

“We remain focused on leveraging our increased brand investments to accelerate growth and deliver long-term value creation centered around profitable growth, durable cash flow generation, and disciplined capital allocation.”

Looking ahead, the company expects a 2025 net sales change of -1% to +1% year-over-year, with organic sales growth of 2% to 4%. Kenvue projects flat to 2% year-over-year growth in adjusted diluted earnings per share for 2025,

“As Kenvue enters our next chapter, we expect to accelerate performance throughout the year, while navigating the dynamic external environment contemplated within our outlook,” added Paul Ruh, chief financial officer. 

“We expect to drive further productivity and operational efficiency gains, which will fund our planned increase in brand investments, positioning us to grow adjusted operating margin for the year.”