Jarden Net Falls in Q4, Fiscal Year

Jarden CorprationRYE, N.Y.-Despite a record-breaking sales total, Jarden posted a 24 percent drop in fourth-quarter net income, to $37 million.

This brought the bottom-total for the housewares giant to $203.9 million, down 16.4 percent, for its fiscal year ending on Dec. 31. Net sales in the quarter reached a record $2.2 billion, up 21.8 percent. For the year, net sales rose 9.9 percent to $7.4 billion.

The decline in fourth-quarter profit was due to decreases in gross margin and increases in selling, general and administrative expenses. Gross margin fell 62 basis points to 27.3 percent. SG&A rose 23.5 percent in dollars and 28 basis points as a percentage of sales, to 20 percent. In addition, Jarden's provision for income taxes rose 67.4 percent.

Commenting on the fiscal year, James Lillie, Jarden's CEO, said the company produced new records in revenues, segment earnings, operating cash flow and adjusted earnings per share. Lillie cited sales growth among its housewares brands, including Crock-Pot, FoodSaver and Oster. "We are excited about the outlook for 2014 and beyond, given the core momentum in our business and the strength of our team," he said.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Von Tobel Cites Brass Textures Among Top Trends

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017

    HFN's DIGITAL EDITION

    September 2017


    COVER STORY:

    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    ALSO IN THIS ISSUE:

    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.