BUZZ-Newell Brands slump after Q1 loss forecast

Updates

Shares of Sharpie maker Newell Brands NWL.O plunge 23.7% to $7.41 in early trading

Stock set for its worst day since October 2017, if losses hold

NWL expects Q1 loss on increased promotional costs, and greater-than-expected decline in annual sales due to tepid demand

Sees Q1 loss between 6 cents and 9 cents per share vs estimates of profit of 3 cents per share - LSEG-compiled data

Expects Q1 net sales to be down 5% to 8% vs estimates of a drop of 3.4%

Forecasts FY25 net sales to decline in the range of 2% to 4% vs analysts' estimates of 0.7% decline

*Co says it is working to reduce dependence on suppliers in China as it looks to reduce hit from tariffs

NWL rose about 15% in 2024