High Inventory Hurts Spectrum Brands Sales

Spectrum Brands Holdings, Inc. had net sales of $749.5 million in the fourth quarter of 2022, a decrease of 1.1 per cent compared to net sales of $757.8 million in the fourth quarter of 2021. Net sales were significantly impacted by lower replenishment orders due to higher retail inventory, softer demand, negative foreign currency impact in international markets, and unfavourable weather conditions. The home and personal care segment had an increase of 11.5 per cent in net sales year over year and the home and garden segment had a decrease in net sales of 19.4 per cent.