Newell is Avoiding Price Hikes in Shift from Last Year
Dow Jones
Jul 31
0834 ET - Newell Brands says it doesn't want to raise prices again because its price hikes last year put a damper on sales momentum. The company behind Sharpie and Rubbermaid is using cost control efforts and some of the benefit from tariff refunds to avoid raising consumer prices again, executives tell analysts on a call. Newell raised prices three times last year in April, May and July as new tariffs threatened to drive up costs. "It did cause us to lose some positive sales momentum," CFO Mark Erceg says. Management also expects inflation will eventually normalize, Erceg says. Newell jumps 20% premarket.
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