Remington Sales Rise in Spectrum’s First Fiscal Quarter



ATLANTA–Sales of Remington-branded products totaled $162.8 million in the first fiscal quarter for Spectrum Brands, the brand’s parent company—an increase of 12.4 percent over the first fiscal quarter of 2009.
The Remington gain helped Spectrum’s Global Batteries and Personal Care segment to a 10.1 percent increase in sales for the quarter, which reached $428.6 million. A Spectrum statement said the segment’s performance was aided by market-share growth in North America and a positive foreign-exchange impact of $25 million versus last year’s first quarter. The segment posted a profit of $46 million in the quarter, down 13.7 percent from last year.
Overall, Spectrum narrowed its first-quarter loss from $112.6 million in 2009 to $60.2 million this year. Net sales for the quarter totaled $591.9 million, a pickup of 7.9 percent.