Spectrum Brands Holdings Inc. reported Friday a wider than-expected fiscal first-quarter loss and cut its full-year sales growth outlook, citing lower...
Spectrum Brands Holdings Inc. SPB reported Friday a wider than-expected fiscal first-quarter loss and cut its full-year sales growth outlook, citing lower consumer demand and continued heavy inventory levels at retail. The stock was still inactive in premarket trading. The home essentials and pet care company swung to a net loss of $20.9 million, or 51 cents a share, for the quarter to Jan. 1, from net income of $8.2 million, or 20 cents a share, in the year-ago period.
The stock was still inactive in premarket trading. The home essentials and pet care company swung to a net loss of $20.9 million, or 51 cents a share, for the quarter to Jan. 1, from net income of $8.2 million, or 20 cents a share, in the year-ago period. Excluding nonrecurring items, the adjusted per-share loss of 32 cents was wider than the FactSet loss consensus of 29 cents. Sales fell 5.8% to $713.3 million, below the FactSet consensus of $754.9 million. Home and personal care sales fell 4.
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