Newell Brands reports drop in Writing sales
| 20 February, 2018
Newell Brands reports that its Learn segment generated net sales of $551 million, an 8.9 percent decline compared with $605 million in the prior year.
Core sales declined 9.7 percent, with growth from Jostens offset by a double-digit decline in Writing related to retailer inventory destocking in the office superstore and distributive channels and a significant trade terms dispute with one of Writing’s large customers in the U.S. resulting in a period of stopped shipments.
Lost sales associated with this customer accounted for the vast majority of the global Writing core sales decline versus prior year.