Remington Sales Boost Spectrum's First Quarter
May 5, 2010,
MADISON, Wis.-Global sales of Remington-branded products rose 12.1 percent in the fiscal second quarter of parent company Spectrum Brands, totaling $96.3 million.
The sales rise helped the parent's Global Batteries and Personal Care segment to an operating profit of $41.1 million, up 12.6 percent over last year's fiscal second quarter. In its statement reviewing the second-quarter results, Spectrum attributed the segment's gains to "solid growth" in shaving and grooming products, along with the positive effects of foreign currency exchange rates.
It was during the second quarter that Spectrum announced its proposed merger with Russell Hobbs, the former Salton Inc. In previous statements, the company said this transaction is set to close some time this summer.