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Tuesday, November 29, 2022 5:53:14 PM
Source: Dow Jones News
By Sabela Ojea
Spectrum Brands Holdings Inc. said Friday that it expects to post a rise in sales for fiscal 2023 amid plans to further reduce inventory levels.
The maker of consumer-products and home-essentials such as Kwikset locks and Hot Shot bug spray said that, even though it expects to operate in a difficult macro-economic environment, it anticipates an up to low-single digit rise in sales for the financial year ending Sept. 30, 2023.
Regarding its inventory reduction plans, the company said it expects to reduce it by more than $200 million and to return to free cash flow generation during fiscal 2023.
Additionally, the company said it expects to win the Justice Department antitrust lawsuit to block Assa Abloy AB's plans to buy the company's hardware and home-improvement segment for $4.3 billion in cash.
Spectrum Brands therefore expects to collect $4.3 billion of cash by no later than June 2023, Chairman and Chief Executive David Maura said.
"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, Founder and CEO of Harwood International
Recent SPB News
- Spectrum Brands Files Registration Statement for Spin-Off of its Home & Personal Care Business • Business Wire • 07/02/2024 08:53:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/17/2024 08:30:58 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/04/2024 08:40:04 PM
- Spectrum Brands Announces Pricing Terms and Accepted Tender Amounts for its Tender Offer and Consent Solicitation • Business Wire • 06/04/2024 07:25:00 PM
- Spectrum Brands Announces Early Results and Upsizing of its Previously Announced Tender Offer and Consent Solicitation • Business Wire • 06/04/2024 12:00:00 PM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/31/2024 08:31:02 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/28/2024 08:41:06 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/23/2024 08:37:07 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/21/2024 10:06:37 AM
- Spectrum Brands Announces Pricing of Private Offering of $300 Million of New Exchangeable Senior Notes • Business Wire • 05/21/2024 03:54:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/20/2024 11:03:35 AM
- Spectrum Brands Announces Proposed Offering of Exchangeable Notes & Share Repurchase Plan • Business Wire • 05/20/2024 10:55:00 AM
- Spectrum Brands Announces Tender Offer and Consent Solicitation for 4.00% Senior Notes Due 2026, 5.00% Senior Notes Due 2029 and 5.50% Senior Notes Due 2030, and Tender Offer for 3.875% Senior Notes Due 2031 • Business Wire • 05/20/2024 10:51:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/14/2024 04:59:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/14/2024 04:56:42 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/09/2024 02:04:49 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/09/2024 11:22:18 AM
- Spectrum Brands Holdings Reports Fiscal 2024 Second Quarter Results • Business Wire • 05/09/2024 10:30:00 AM
- Spectrum Brands Holdings Declares Quarterly Common Stock Dividend of $0.42 Per Share • Business Wire • 05/07/2024 09:00:00 PM
- Spectrum Brands Holdings to Report Fiscal 2024 Second Quarter Financial Results and Hold Conference Call and Webcast on May 9, 2024 • Business Wire • 04/22/2024 10:30:00 AM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/09/2024 05:25:37 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/09/2024 02:49:31 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 02/08/2024 03:04:34 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/08/2024 11:39:43 AM
- Spectrum Brands Holdings Reports Fiscal 2024 First Quarter Results • Business Wire • 02/08/2024 11:30:00 AM
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