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Industry: Email Alert RSS FeedRemington Products Company - Vendor News - poor 2001 earnings to lead to reorganization - Brief Article
DSN Retailing Today, April 22, 2002
Following disappointing yearend results, Remington Products Company has taken steps to reorganize its business, such as consolidating its North American business, strengthening its operating team internationally and eliminating underperforming products. The company recorded a net loss of $23.4 million for the fiscal year ended Dec.
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31, 2001, compared to net income of $12.7 million in 2000. On the bright side, strong sales of shaver and grooming products in its North American segment helped bolster net sales and operating income for the year to $393.6 million and $1.9 million, respectively, compared to $365.1 million and $38.3 million the prior year.
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COPYRIGHT 2002 Gale Group
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