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  "documentTitle": "Prestige Consumer Healthcare Inc. (PBH)",
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  "authorName": "Ben Axler",
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      "kind": "callout",
      "text": "Management avoids the question of new product performance despite having a risk factor regarding new products",
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      "text": "Management avoids the analyst's question about new product performance. As stated in the SEC's letter to B&G Foods, information regarding new product development is material and should be disclosed to investors. Per the risk factor added in 2015, it is key to the financial performance of the Company. Instead of discussing performance, CEO Ronald Lombardi uses the time as an opportunity to promote their innovative ability.",
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      "kind": "paragraph",
      "text": "If new products and product line extensions do not gain widespread customer acceptance or are otherwise discontinued, the Company's financial performance could be impacted.",
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      "text": "The Company's future performance and growth depends on its ability to successfully develop and introduce new products and product line extensions. We cannot be certain that we will achieve our innovation goals. The successful development and introduction of new products involves substantial research, development, marketing and promotional expenditures, which the Company may be unable to recover if the new products do not gain widespread customer acceptance. New product development and marketing efforts, including efforts to enter markets or product categories in which the Company has limited or no prior experience, have inherent risks. These risks include product development or launch delays, competitor actions, regulatory approval hurdles and the failure of new products and line extensions to achieve anticipated levels of market acceptance.",
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      "text": "Sure. We do track it. We track it by brand. But for us, in our categories, new products can be everything from -- we're doing a study to have new claims on a package, and we update our packaging to have those claims to better connect with consumers to actual new technologies like Compound W, Nitro freeze or Nix Ultra, where we actually have new formulas and new products over time. So we have a very broad definition of it. And we keep an eye on the velocity and how those individual SKUs are performing out there. We don't publicly talk about a freshness index or having a target of having 20% of our sales come from new products, but just track on a granular basis the improvements in performance of every SKU that we launch every single year, whether it's updated packaging or new technology. So we'd rather manage it on that level, Mitch, than in total with a much narrower definition.",
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      "kind": "quote",
      "text": "Do you guys track revenue from new product innovation over any period of time? I mean, could you talk to how maybe your new products did this quarter versus a year ago? Or the size of your new product efforts?",
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      "text": "Sure. We do track it. We track it by brand. But for us, in our categories, new products can be everything from -- we're doing a study to have new claims on a package, and we update our packaging to have those claims to better connect with consumers to actual new technologies like Compound W, Nitro freeze or Nix Ultra, where we actually have new formulas and new products over time. So we have a very broad definition of it. And we keep an eye on the velocity and how those individual SKUs are performing out there. We don't publicly talk about a freshness index or having a target of having 20% of our sales come from new products, but just track on a granular basis the improvements in performance of every SKU that we launch every single year, whether it's updated packaging or new technology. So we'd rather manage it on that level, Mitch, than in total with a much narrower definition. — Ronald Lombardi, CEO, Q2 2020 Call, November 1, 2019",
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      "text": "Source: Company filings, Earnings call transcripts",
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      "text": "No Disclosure For Impact Of New Products",
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