Annual report pursuant to Section 13 and 15(d)

Concentration of Risk

Concentration of Risk

12 Months Ended

Nov. 30, 2014

Most of the Company’s products are sold to major drug and food chains merchandisers, and wholesale beauty-aids distributors throughout the United States and Canada.

During the fiscal years ended November 30, 2014, 2013 and 2012, certain customers each accounted for more than 5% of the Company’s net sales, as follows:



	For the Year Ended November 30,
Customer	2014		2013		2012
Walmart	47.0	%	43.0	%	35.0	%
Walgreen	6.5	%	13.0	%	12.0	%
Rite Aid	*		*		8.0	%
CVS	*		*		9.0	%
Foreign Sales	13.6	%	5.0	%	4.5	%



*	under 5%

The loss of any one of these customers could have a material adverse affect on the Company’s earnings and financial position.

During the fiscal years November 30, 2014, 2013 and 2012, certain products within the Company’s product lines accounted for more than 10% of the Company’s net sales as follows:



	For the Year Ended November 30,
Category	2014		2013		2012
Skin Care	45.9	%	44.8	%	31.2	%
Oral Care	32.9	%	35.3	%	21.1	%
Nail Care	13.8	%	14.0	%	14.5	%

- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

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