Energizer Holdings Forecasts Decreased Sales for First Quarter 2001
Energizer Holdings Inc. (St. Louis, MI) reported expectations of sales for the first quarter 2001 to be 12 to 16 percent lower than the $673.6 million reported in the first quarter a year ago, during the heavy Y2K purchases. The company sees earnings in the range of $0.50 to $0.60 per share in the coming quarter.
“We anticipated a lower demand for batteries and lighting products in the quarter versus the huge Y2K-driven acceleration of the same period a year ago," commented CEO Patrick Mulcahy. “In addition, aggressive inventory management by a number of our US retail customers, and currency devaluations, in several key markets have amplified the negative comparison with last year."