News Blip:
Outdoor Recreation Drives Play Segment
SGB Online Reports On Newell Brands Recording A Climb Of 6.6 Percent In The Fourth Quarter For Their Play Segment, Reaching $563 Million.
Editor's Note: This news item was retrieved through SGB Media's website via Google.
Newell Brands reported sales in its Play segment climbed 6.6 percent in the fourth quarter. Core sales grew 5.4 percent, reflecting strong growth on Coleman, Contigo, Marmot and Team Sports partially offset by declines on Fishing. Sales reached $563 million compared with $529 million in the prior year. The Play segment overall includes Berkley, Shakespeare, Abu Garcia, Penn, Ugly Stik, Rawlings, Coleman, Contigo, Marmot, Aerobed, Camping and Sterns. The brands are all part of the Jarden Outdoor segment. Jarden Corp was acquired by Newell in 2016. “Despite significant disruption in the U.S. retail landscape that is encumbered the selling of our products, the consumer macros have strengthened through the year and as the growth rate in our markets,” said Michael Polk, CEO, on a conference call with analysts, regarding the overall business.
According to SGB Media's interview: Polk added, “In the U.S., we increased market shares by 71 basis points, resulting in sell-out growth of 3.5 percent for the full year. Our U.S. market share growth was broad-based, with share growth of 22 basis points on fresh preserving, 40 basis points on beverage containers, 55 basis points on writing excluding glue, 77 basis points on vacuum sealing, 109 basis points on outdoor and recreation equipment, 180 basis points on food storage, 193 basis points on baby care, 273 basis points on home fragrance, 300 basis points on fishing, 418 basis points on team sports and really, really strong increases on glue.” Newell’s officials didn’t further discuss the performance of the Play segment, but did address its transformation plan announced on January 25. The plan includes exploring the sale of smaller consumer businesses, including Rawlings, Goody, Rubbermaid Outdoor, Closet, Refuse and Garage and U.S. Playing Cards. The plan also calls for Newell to explore strategic options for industrial and commercial product assets, including Waddington, Process Solutions, Rubbermaid Commercial Products and Mapa.
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