A new Newell reports Q1 sales gains

Fresh of its acquisition of Jarden – described as the most transformative transaction in company history – Newell Brands took a hit on net income, but showed strong sales gains across its various segments.

The company’s sales increased 4.0% to $1.31 billion. Net income, however fell to $40.5 million, down 25.1% from $54.1 million in the year-ago period.

Touting its “Newell playbook” and innovation, Newell Brands CEO Michael Polk described core sales growth and market share gains during the company’s first quarter.

“The new Newell Brands more than doubles our size in key strategic retailers, channels and geographies,” Polk said. “We expect scale to enable accelerated growth over time through broadened channel cross-sell, accelerated international deployment and strengthened category leadership as we extend the best capabilities from both companies across the full portfolio.

Formerly named “Newell Rubbermaid,” the company’s brands include Lenox, First Alert, Rubbermaid, Yankee Candle, Irwin, Elmer’s – among many others.

Its Home Solutions segment saw net sales increase 2.1% to $372.1 million. Core sales increased 3.6%, attributable to continued strong Beverage growth and the introduction of Rubbermaid FreshWorks and Rubbermaid Fasten&Go, partially offset by continued contraction of the lower margin Rubbermaid Consumer Storage business.

Newell and Jarden completed their merger earlier this month.