Shares of Kenvue (KVUE) led 澳洲幸运5官方开奖结果体彩网:S&P 500 decliners Tuesday after the consumer health giant's chief executive indicated the firm faces seasonal demand challenges.

Speaking at Deutsche Bank's dbAccess Global Consumer Conference, Kenvue CEO Thibaut Mongon highlighted the importance of seasonality for its allergy products, like Benadryl and Zyrtec. "We saw a longer winter, so winter pushed spring into later in Q2," Mongon said, according to a transcript provided by AlphaSense. "So we see that on allergy where we saw a later start to the season, and so far, it's below last year."

Mongon also noted sim𝐆ilar seasonal t💮roubles for its sun protection brands, like Neutrogena and Aveeno.

"In sun, we see more or less the same. Late start to the season year-to-date behind last year, but the season has not really started for recreational sun, and Memorial Day weekend was just a few days ago," Mongon said. "It was not great, as you and I could see. But, again, we are just at the beginning of the season. So it's too early to read the season. It will certainly impact Q2."

Kenvue shares were down more than 7% in recent trading. With today's sharp declines, the stock's year-to-date gains stand at less than 3%.