By Dean Seal
Shares of Newell Brands slumped after the company said it expects sales to decline in 2025.
The stock was down 27% at $7.12 in early trading. Shares have had a volatile 12 months, jumping as high as $11.78 and falling as low as $5.39.
The maker of Yankee Candle and Sharpie pens said sales are projected to fall 2% to 4% this year. Analysts polled by FactSet had been forecasting sales to be about flat with last year.
Chief Executive Chris Peterson said the macroeconomic backdrop remains uncertain and that there's still much work to be done as Newell progresses with a turnaround strategy launched last year.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
February 07, 2025 09:55 ET (14:55 GMT)
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