TTI Floor Care, Appliance Unit Sales Up 9.3 Percent in First Half

Techtronic_Industries_TTIHONG KONG-The Floor Care and Appliance segment of Techtronic Industries (TTI) posted sales of $572 million in the first half of its fiscal year 2014, an increase of 9.3 percent over last year's first half.

The unit's sales performance was part of a period in which TTI set records for sales, gross margin and net income. Overall, the company's net sales were up 10.2 percent to $2.3 billion, and net income totaled $136 million, a gain of 15.9 percent. Gross margin picked up 100 basis points to finish the first half at 35 percent.

A TTI statement attributed its record-setting performance to "a series of successful new product launches and highly effective, targeted geographic expansion." Joseph Galli, the company's CEO, added that TTI also benefited from "a relentless focus on operational efficiency." Galli also said the company showed margin improvement from "aggressive productivity gains across our supply chain network."

Horst Pudwill, TTI's chairman, said, "With our ongoing focus on generating organic growth, improving operating margins and managing our robust balance sheet, we expect continued strong performance in the second half of 2014."

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

  • Patti Carpenter Talks Color and its Importance in the Home

    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 August 2017 cover

    HFN's DIGITAL EDITION

    August 2017


    COVER STORY: Sharpening the Focus on Millennials

    Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.


    ALSO IN THIS ISSUE:

    • Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
    •  Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.