DJ Spectrum Brands Raises Sales Guidance for Fiscal 2021
By Dave Sebastian
Spectrum Brands Holdings Inc. said it raised its sales guidance for fiscal 2021, as it turned a profit for the first quarter from e-commerce gains and continued supply-chain recovery.
The consumer-products and home-essentials company now sees sales rising by high-single digits for the year, it said Friday, compared with its prior outlook of 3% to 5% growth. It said it expects foreign exchange to benefit it slightly based on current rates.
"Demand for our products based on retailer orders, improved brand awareness from our advertising and promotional investments and macro data gives us confidence in raising our net sales outlook for the year," Chairman and Chief Executive David Maura said.
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(END) Dow Jones Newswires
February 05, 2021 06:47 ET (11:47 GMT)
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