Newell Brands Outdoor & Recreation Core Sales Fall 21 Percent In Q2
July 28, 2023
Newell Brands, the parent company of Marmot, Ex Officio, Stearns, Bubba, Coleman, and Contigo, among others, generated net sales of $333 million, down 22.0 percent compared with $427 million in the prior year period. The decline reflects a core sales decline of 20.9 percent, as well as the impact of unfavorable foreign exchange.
Reported operating income from the segment was $5 million, or 1.5 percent of sales, down 89.6 percent compared with $48 million, or 11.2 percent of sales, in the prior year period. Normalized operating income was $14 million, or 4.2 percent of sales, a decline of 74.1 percent compared with $54 million, or 12.6 percent of sales, in the prior year period. SGB Media