Spectrum Brands Repays $100 Million in Debt

SpectrumMADISON, Wis.-Spectrum Brands, parent company of the Remington line of personal-care products and the Russell Hobbs collection of small electrics, has reduced its debt by $100 million, thus meeting its objective of repaying term debt by at least $200 million by the end of fiscal 2013.

The company's fiscal year ended earlier this week. "We are executing on our program to pay down debt and reduce leverage through our strong free cash-flow generation," said Dave Lumley, Spectrum's CEO.

"We remain committed to growing our adjusted EBITDA (earnings before interest, taxes, depreciation and amortization), generating strong and increasing free cash flow and reducing debt to create significant shareholder value," Lumley 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.