Newell Rubbermaid Net Slips in Q2

Newell RubbermaidATLANTA-Although Newell Rubbermaid's second-quarter net income was down 1.8 percent, Michael Polk, president and CEO, termed it "another quarter of steady progress."

Polk cited the company's growth in both sales and earnings per share. Net sales increased 3.5 percent to $1.5 billion, and earnings per share rose 11.1 percent. Total net income was $109.8 million, and included a loss from discontinued operations. Factoring out those operations, net income was up 9.7 percent to $116.6 million.

Sales in the company's home solutions segment, which encompasses its housewares categories, rose 2 percent. The drivers included strong results from Rubbermaid and increased distribution of Calphalon products.

The quarter, which ended on June 30, also included a pickup of 70 basis points in gross margin, to 39.5 percent. Selling, general and administrative expenses were flat as measured in dollars, but were down 80 basis points as a percentage of sales to 24.8 percent.

Based on these results, Newell is projecting total sales growth for 2013 of between 2 and 4 percent.

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

Current Issue

  • HFN May digital issue

    HFN's DIGITAL EDITION

    May 2017


    COVER STORY: HFN Turns 90

    We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.


    ALSO IN THIS ISSUE:

    • Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
    • Omnichannel Retailing - In the Mobile App World, Time is Money