Despite sales gains, the consumer products company based in Madison, Wis., posted a net loss of $41.2 million.
Spectrum Brands reported a second quarter net loss of $41.2 million. This compared with a net loss of $28.7 million in the year-ago quarter.
The Madison, Wis.-based consumer products company -- including such brands as Rayovac and George Foreman Grills -- purchased Stanley’s hardware and home improvement (HHI) segment last year.Sales were $987.8 million for the three months ended March 31, up from $746.3 million.
It wasn’t a nearby Home Depot that led to the business woes of a Madison, Wis., hardware store, said its owner.
According to an article in the Cap Times, a local hardware store owner pointed to crime and deteriorating conditions in the Madison, Wis., store’s neighborhood as the leading cause for its pending going-out-of-business sale.