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[1/2] Sharpie markers owned by Newell Brands are seen for sale in a store in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsCompanies Newell Brands Inc FollowWASHINGTON, Sept 29 (Reuters) - The U.S. Securities and Exchange Commission on Friday charged Newell Brands (NWL.O) and former CEO Michael Polk with misleading investors about sales. In a settlement, Newell and Polk, without admitting or denying the SEC findings, agreed to pay civil penalties of $12.5 million and $110,000, respectively, the SEC said in a statement. Newell pulled sales forward into earlier quarters without adequate disclosure and used accounting practices that were not consistent with Generally Accepted Accounting Principles, the SEC order said. These actions made the company's core sales growth look as if it was in line with its targets and deprived investors of an accurate picture of Newell's actual sales trends, it said.

Persons: Andrew Kelly, Newell, Michael Polk, Polk, Nick Zieminski Organizations: Newell Brands, REUTERS, WASHINGTON, U.S . Securities, Exchange Commission, SEC, Thomson Locations: Manhattan , New York City, U.S, Newell, Georgia, Polk

☆ Blackstone and Airbnb set to join S&P 500; shares climb
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: 1 min

Signage is seen outside the Blackstone Group headquarters in New York City, U.S., January 18, 2023. REUTERS/Jeenah Moon Acquire Licensing RightsSept 1 (Reuters) - Shares of Blackstone (BX.N) and Airbnb (ABNB.O) rallied in extended trade on Friday after S&P Dow Jones Indices said the two companies would join the S&P 500 (.SPX) index. Blackstone was up 4.1%, while Airbnb jumped 5% after S&P Dow Jones Indices said the companies would replace Lincoln National Corp (LNC.N) and Newell Brands Inc (NWL.O) before the start of trading on Sept. 18. Lincoln National dipped 0.7% and Newell Brands was last unchanged. Reporting by Noel Randewich; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Dow, Blackstone, Airbnb, Newell Brands, Noel Randewich, Jonathan Oatis Organizations: Blackstone Group, REUTERS, Blackstone, Dow Jones, Lincoln National Corp, Newell Brands Inc, Lincoln National, Newell, Thomson Locations: New York City, U.S

☆ Inflation Has More U.S. Companies Ditching ‘Last-In, First-Out’ Accounting
▼ + stars: | 2023-03-23 | by ( Mark Maurer | ) www.wsj.com time to read: 1 min

Newell Brands, maker of WoodWick candles and other consumer brands, is among the companies shifting some inventory accounting to FIFO from LIFO. U.S. companies from truck maker Oshkosh Corp. to consumer-goods conglomerate Newell Brands Inc. are moving away from “last-in, first-out” accounting, or LIFO, for their inventory, as inflation continues to pressure businesses’ earnings. Elevated inflation has weighed on companies’ earnings over the past two years, and economists expect it to remain above recent norms at least through this year. The producer-price index, a closely watched gauge of inflation at the wholesale level, rose 4.6% in February from a year earlier—well off the 11.7% annualized peak in March 2022 but still historically high.

☆ Supply-Chain Headaches Ease for Many Companies
▼ + stars: | 2023-02-21 | by ( Paul Berger | Liz Young | ) www.wsj.com time to read: +4 min

Supply-chain snarls are fading from among the top challenges facing some U.S. companies as freight congestion eases, shipping costs fall and factories in Asia are freed from Covid-19 lockdowns. The rising costs and lengthy transit times pushed some companies to cut back on slower-selling products and raise prices. Today, freight congestion has cleared and ocean shipping costs have fallen close to prepandemic levels. Mr. Bergman said the decline was “partially offset by 40 basis points of favorable supply-chain impact driven by lower freight costs, which more than offset product cost headwinds during the quarter.”Some companies said they still have a way to go before supply-chain challenges are resolved. And Ford Motor Co. Chief Executive Jim Farley told a virtual town hall on Feb. 9 that supply-chain problems were continuing to hamper the company’s progress.

☆ Newell Brands Slashes Profit Targets, Changes CEOs
▼ + stars: | 2023-02-10 | by ( Sharon Terlep | ) www.wsj.com time to read: 1 min

Newell, which makes Elmer’s glue and other household products, has struggled since closing a $15 billion acquisition in 2016. Newell Brands Inc. said it was changing chief executives and slashed its financial forecasts for the year, as the maker of kitchen gadgets and school supplies prepares for potential economic downturn. Ravi Saligram , who took over as CEO in October 2019, will retire effective May 16 and hand over the top job to one of his deputies, President Chris Peterson . Mr. Saligram, a former CEO of OfficeMax and Ritchie Bros. Auctioneers Inc., has overseen a restructuring at the company.

☆ Newell Brands CEO Saligram to retire; forecasts 2023 results below estimates
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +1 min

Feb 10 (Reuters) - Newell Brands Inc (NWL.O) said its top boss Ravi Saligram will retire effective May 16 and forecast annual results below analysts' estimates, sending the Sharpie maker's shares down 11% in premarket trading. Newell's fourth-quarter results beat estimates, but the company projected fiscal 2023 net sales between $8.4 billion and $8.6 billion. Analysts had expected full-year net sales of $9.08 billion, according to Refinitiv IBES data. The company forecast an annual profit per share of 95 cents to $1.08, compared with estimates of $1.42. Newell also expects a first-quarter loss between 3 cents per share and 6 cents per share, compared with estimates of a profit of 23 cents.

☆ California Long Ruled U.S. Shipping. Importers Are Drifting East.
▼ + stars: | 2022-12-10 | by ( Paul Berger | Photographs David Walter Banks For The Wall Street Journal | ) www.wsj.com time to read: +13 min

Abercrombie & Fitch Co. is moving more merchandise through New York and New Jersey to avoid West Coast bottlenecks. It trailed its East Coast rival again in that measure during September and October, according to the Pacific Merchant Shipping Association and ports data. ”There are so many customers that got so screwed because they were entirely reliant on L.A. and Long Beach.”The logistical challenges of spreading imports along the East Coast and the Gulf Coast are massive. The shift in trade to the East Coast marks a return to where container ships originated. Then the U.S. began importing more goods from Europe, making an Atlantic Ocean crossing to various East Coast ports more critical.

☆ Analysis: Overstretched U.S. companies feel pinch of higher borrowing costs
▼ + stars: | 2022-09-20 | by ( Matt Tracy | ) www.reuters.com time to read: +5 min

Sharpie markers owned by Newell Brands are seen for sale in a store in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew KellySept 20 (Reuters) - When U.S. consumer products company Newell Brands Inc (NWL.O) refinanced $1.1 billion worth of bonds earlier this month, it saw its borrowing costs jump by more than half. Register now for FREE unlimited access to Reuters.com RegisterA Newell Brands spokesperson did not respond to a request for comment. But most companies with junk-rated debt have significant exposure to higher interest rates. HIGHER BANKRUPTCY RISKThe burden of higher interest payments is expected to lead to more companies filing for bankruptcies.

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