“Our largely non-discretionary, non premium-priced replacement products and brands continue to provide consistent value to our retail partners and consumers worldwide, especially in this continuing difficult global economy with sluggish retail activity,” Mr. Lumley continued. “We believe consumers are embracing our ‘same or better performance for less price’ value brand proposition and are open to trial and brand conversion.“Again in fiscal 2013, we expect to largely offset significant commodity and Asian-sourced product cost increases through our continuous improvement programs, cost synergy programs, retail distribution gains, the exit from unprofitable or low-margin product lines as we did in the first quarter, select pricing actions, and retention of stringent cost control programs. Our target remains for each division to achieve a three to five percent savings in its annual costs of goods sold.
Spectrum Brands Holdings Reports Record Fiscal 2013 First Quarter Results, Reiterates Outlook For Fourth Consecutive Year Of Record Performance From Legacy Business
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