The small appliances product category reported net sales in the first quarter of fiscal 2014 of $216.8 million versus $220.1 million in the year-ago quarter. A strong increase in European net sales was more than offset by a decline in North American net sales as a result of competitor discounting at a major retailer and, to a lesser degree, the timing of some holiday shipments between the fiscal fourth and fiscal first quarters this year versus last year. Excluding a negative foreign exchange impact of $2.2 million, net sales for the small appliances product category declined 0.5 percent in the first quarter of fiscal 2014.With segment net income, as adjusted, of $93.1 million, the Global Batteries & Appliances segment reported adjusted EBITDA of $114.2 million in the first quarter of fiscal 2014, an increase of 3.1 percent compared to adjusted EBITDA of $110.7 million in the year-earlier quarter, when segment net income was $92.0 million.
Spectrum Brands Holdings Reports Record Fiscal 2014 First Quarter Results
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