Spectrum Brands posts mixed Q2 results

MIDDLETON, Wis. — Spectrum Brands reported its Q2 net sales rose by 3.4 percent overall, but sales in the hardware and home improvement (HHI) segment slid to $329.1 million, compared to $331.1 million a year ago. That dip was despite growth in builders’ hardware, driven by new products in the home centre channel. The company’s net loss widened to $59.2 million, from $54 million in Q2 of 2019. In the HHI business, operating income soared to $61 million from $44.4 million for the comparable period last year, driven by an $8.4 million windfall from retrospective tariff exclusions and productivity improvements.