Sales of Irwin tools, Sharpie pens and Graco baby gear helped Atlanta-based Newell Rubbermaid grow sales and profit in the fourth quarter, the company said Friday.
Much of the consumer goods giant’s sales increases came in Latin America, which logged a 21 percent gain, the company said in its quarterly report. That helped offset weakness in Europe, where sales fell 4.4 percent.
North America sales rose 2.2 percent, while Asia posted a 0.9 percent gain.
Newell Rubbermaid makes goods under various brands including Calphalon cookware, Ace and Goody grooming products and Levolor blinds. The company on Wednesday announced the creation of the Hilmor brand, tools targeted at professionals in heating, ventilation and air conditioning and refrigeration.
The décor business continued to weigh on the company in part of because of a store redesign at JCPenney, one of Newell Rubbermaid’s biggest customers. However, the segment is forecast to do better in 2013, though it may not completely come out of its slump.
“The drag will not be as significant as it was in 2012,” Newell President and Chief Executive Officer Michael Polk said in a conference call.
The company had fourth-quarter profit of about $101.9 million, up from $80.4 million for the same period in 2011.
Revenue gained 1.6 percent to $1.52 billion for the quarter. Full-year sales rose 0.6 percent to about $5.9 billion.
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