Streamlined Newell Rubbermaid shares results
Newell Rubbermaid, the Atlanta-based company that recently reorganized its myriad brands into six business units, down from nine, gave investors insights into how those units have performed.
The six business units in the streamlined structure are home solutions, writing, tools, commercial products, baby and parenting, and specialty.
Year to date, the home solutions unit (including Rubbermaid and Levolor brands) in 2012 has $1.191 billion in sales, down from $1.261 billion in the same period last year.
The tools unit (including the Irwin and Lenox brands) recorded sales of $597 million, compared with $577 million in the same year-to-date period in 2011.
The total company revenues increased slightly to $4.384 billion, up from $4.369 billion.
The new structure is the result of a program called Project Renewal. Effective October 2012, the company committed to the program designed to further simplify and align the business around two key activities -- brand development and market execution.