1304 ET - Newell Brands has been reducing its dependence on China for the last few years and started accelerating that effort about a year ago, CEO Chris Peterson says on a call with analysts. The maker of Sharpies and Yankee Candles has already completed multiple insourcing products, including for finished goods and raw material components in its writing, baby and home businesses, the CEO says. Newell is also moving production from China to alternate geographies, he says. Imports from China currently account for about 15% of the company's total cost of goods sold, and a large portion of that are baby products that are exempt from tariffs, the CEO says. Newell aims to get that figure down to 10% by the end of the year. (dean.seal@wsj.com)
(END) Dow Jones Newswires
February 07, 2025 13:04 ET (18:04 GMT)
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