Helen of Troy Limited announced that it will construct a new 1.3 million square foot distribution center in Olive Branch, Mississippi. Through a wholly-owned subsidiary, Helen of Troy has entered into an agreement to purchase 84 acres of land in Olive Branch, Mississippi and entered into an agreement for the construction of a new, 1,300,000 square foot distribution center on the purchased property. Total estimated costs of the project, including land, construction costs, warehouse equipment and fixtures to be used in the distribution center, are approximately $37 million.

Helen of Troy expects to fund the project using a combination of cash from operations, long-term financing and the company's existing revolving line of credit. Helen of Troy expects the new distribution center will be ready for operation in the third fiscal quarter of fiscal 2014. Helen of Troy currently owns and operates a 1,200,000 square foot distribution center in Southaven, Mississippi and leases approximately 700,000 square feet in Memphis, Tennessee.

Upon completion of the new facility, Helen of Troy will no longer lease the Memphis facility and will operate solely out of owned facilities.