Reported about 12 hours ago
Newell Brands has revised its full-year sales outlook down to a 4.5% to 5% decline, a significant shift from the earlier estimate of 2% to 3%, primarily due to consumer pushback against price hikes aimed at offsetting tariff costs. The company, known for brands like Yankee Candle and Sharpie, reported a 7.2% drop in third-quarter sales, citing increased operational costs and a notable pullback in spending from low-income consumers and younger shoppers. With shares plummeting 27%, Newell is adjusting its pricing strategy to regain market competitiveness.
Source: YAHOO