Newell Brands reports delcine in writing sales
| 02 November, 2017
Newell Brands reported that its Learn segment generated net sales of $642 million, an increase of 0.7 percent compared with $638 million in the prior year.
Writing performance was well below expectations, although market share improved versus prior year in both the underlying business and in glue.
For the first time in many years, market growth at Back-to-School was weak resulting in minimal September replenishment orders and significant inventory destocking across all channels.
A decline in operating margin was primarily attributable to product mix associated with weak sales on the high margin Writing products.