The Hain Celestial Group, Inc. (NASDAQ:HAIN) reported fiscal second-quarter net sales of $384 million, a 7% year-over-year decline. The results prompted a decline in the stock price following the announcement.

Organic sales declined 7%, driven by a 9-point decrease in volume and mix, partially offset by a 2-point increase in pricing. The company reported a net loss of $116 million, or $1.28 per diluted share, compared to a loss of $104 million, or $1.15 per share, last year.

Adjusted net loss was $3 million, or 3 cents per share, missing analysts’ break-even estimate. Sales of $384.12 million beat the $383.28 million estimate.

During the quarter, Hain Celestial divested its North American snack business as part of its strategy to simplify the portfolio, strengthen the balance sheet, and improve margins and cash flow.

“We took bold ...