Spectrum Brands Reports Boost from FX on Sales -- Currency Comment

By Paulo Trevisani

Spectrum Brands Holdings Inc. said Friday that foreign currency translations had a favorable impact on quarterly results and are expected to remain a positive factor.

The Middleton, Wis. seller of George Foreman grills, IAMS pet food and other brands reported sales rose 18% to $1.16 billion in its third fiscal quarter from a year earlier.

The result includes a $25.9 million boost from favorable foreign exchange rates, the company said.

The WSJ Dollar Index fell around 0.7% in the period, according to Dow Jones Market Data.

"Spectrum Brands continues to expect mid-teens reported net sales growth, with foreign exchange expected to have a positive impact based upon current rates," the company said.

Write to Paulo Trevisani at paulo.trevisani@wsj.com

(END) Dow Jones Newswires

August 06, 2021 11:31 ET (15:31 GMT)

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