Newell Rubbermaid writing sales up 5.2%
| 31 July, 2014
Newell Rubbermaid has reported strong Q2 results with CEO Michael Polk reporting that "outstanding top line performance in Writing, Tools and Commercial Products drove core sales growth of 4.6 percent.”
Writing net sales for the second quarter were $502.6 million, a 5.2 percent increase compared to prior year. Core sales increased 8.9 percent, driven by pricing in Latin America and better than expected Back-to-School sell-in in anticipation of the company's planned heavy third quarter 2014 advertising, marketing, and merchandising programs.
Overall, Newell Rubbermaid’s net sales in the second quarter were $1.52 billion, compared with $1.47 billion in the prior year. Core sales, which exclude 150 basis points of negative foreign currency impact, grew 4.6 percent.