Mixed bag for Newell Rubbermaid in Q2
Newell Rubbermaid, whose brands include Irwin Tools, Lenox and Calphalon in addition to Sharpie and Paper Mate, reported second-quarter net sales of $1.47 billion, up 3.5% from the prior-year quarter.
Net income for the Atlanta-based company was $109.8 million, down 1.8% from the same quarter last year.
The company's Home Solutions segment net sales were $399.1 million, up 2.0%. The growth was driven by strong results from Rubbermaid and increased distribution of Calphalon.
Tools segment net sales were down 2.2% to $198.0 million.
On July 15, the company announced the sale of its Teach platform, bring increased focus to the Newell Rubbermaid portfolio, the company said.