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Remington Sales Rise in Spectrum's First Fiscal Quarter

Posted on February 9, 2010 by HFN Staff

ATLANTA-Sales of Remington-branded products totaled $162.8 million in the first fiscal quarter for Spectrum Brands, the brand's parent company--an increase of 12.4 percent over the first fiscal quarter of 2009.

The Remington gain helped Spectrum's Global Batteries and Personal Care segment to a 10.1 percent increase in sales for the quarter, which reached $428.6 million. A Spectrum statement said the segment's performance was aided by market-share growth in North America and a positive foreign-exchange impact of $25 million versus last year's first quarter. The segment posted a profit of $46 million in the quarter, down 13.7 percent from last year.

Overall, Spectrum narrowed its first-quarter loss from $112.6 million in 2009 to $60.2 million this year. Net sales for the quarter totaled $591.9 million, a pickup of 7.9 percent.