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Mixed bag for Newell Rubbermaid in Q2

Home Solutions showed sales gains while the tools segment slipped during the second quarter.
Rubbermaid Big Max shed has 325 cubic feet of storage capacity.

Newell Rubbermaid, whose brands include Irwin Tools, Lenox and Calphalon in addition to Sharpie and Paper Mate, reported second-quarter net sales of $1.47 billion, up 3.5% from the prior-year quarter.

Net income for the Atlanta-based company was $109.8 million, down 1.8% from the same quarter last year.

The company's Home Solutions segment net sales were $399.1 million, up 2.0%. The growth was driven by strong results from Rubbermaid and increased distribution of Calphalon. 

Tools segment net sales were down 2.2% to $198.0 million. 

On July 15, the company announced the sale of its Teach platform, bring increased focus to the Newell Rubbermaid portfolio, the company said.


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