Home Improvement Leads Spectrum Gains

Spectrum Brands Holdings, Inc. had net sales of $1,162.8 million for the third quarter of its fiscal 2021 year, an increase of 18.1 per cent compared to net sales of $984.3 million in the third quarter of 2020. Sales were driven by growth across all business units, with standout growth from hardware and home improvement (HHI). Overall net income from continuing operations decreased $101.7 million to $34.9 million and adjusted earnings before taxes was $167.4 million, up 1.8 per cent year-over-year. The HHI segment had net sales of $419 million for the quarter, up 48.8 per cent compared to net sales of $281.6 million in the year-ago period. The home and personal care segment had net sales of $274.4 million, up 9.5 per cent compared to $250.6 million last year. The home and garden segment had net sales of $212.1 million, up 0.7 per cent compared to $210.6 million last year.