The Baby & Parenting segment net sales for the fourth quarter were $186.2 million, a 4.2 percent increase compared with the prior year quarter. Core sales in the segment increased 5.9 percent. The improvement was driven by Graco®’s strong share gains in North America and continued robust growth of Aprica® in Japan. Operating income in the Baby & Parenting segment was $12.8 million, or 6.9 percent of sales, compared with $13.5 million, or 7.6 percent of sales, in the prior year. The operating margin decline was driven by increased investments in advertising development and increased merchandising activity associated with sell in of 2013 innovation.The Specialty segment net sales for the fourth quarter were $136.9 million, a 2.2 percent decrease compared with the prior year quarter. Core sales in the segment decreased 1.3 percent. Growth in the Dymo Office Labeling and Endicia businesses were offset by softness in Mimio® and Shur-line®. Operating income was $20.2 million, or 14.8 percent of sales, compared with $15.3 million, or 10.9 percent of sales, in the prior year. The operating margin improvement was attributable to Project Renewal-related cost reductions, which more than offset input cost inflation.
Newell Rubbermaid Reports Solid Fourth Quarter 2012 Results And Provides 2013 Guidance
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