SEC Filings
 |
| 10-Q | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| HRG GROUP, INC. filed this Form 10-Q on 08/09/2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Entire Document | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| << Previous Page | Next Page >> | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Small appliances organic net sales decreased $4.3 million for the Fiscal 2016 Quarter compared to the Fiscal 2015 Quarter primarily attributable to decrease in sales in North America of $5.8 million due to softer point of sale and competitive pricing, partially offset by an increase in sales in other geographical regions. Global pet supplies organic net sales decreased $1.9 million for the Fiscal 2016 Quarter compared to the Fiscal 2015 Quarter primarily driven by decreases in aquatic sales of $1.2 million from the exiting of lower margin business and softness in volume in European markets. Personal care products organic net sales decreased $0.5 million for the Fiscal 2016 Quarter compared to the Fiscal 2015 Quarter mainly attributable to decreases in North America of $4.0 million due to softer point of sale volumes and reduction in retail inventory, partially offset by increases in Europe and Latin America from promotional sales and market expansion. Net consumer products and other product sales for the Fiscal 2016 Nine Months increased $407.7 million, or 12.1%, to $3,790.0 million from $3,382.3 million for the Fiscal 2015 Nine Months. The increase in net consumer and other product sales in the Fiscal 2016 Nine Months was driven by the impact of the acquisition of AAG and the organic growth in sales across the consumer batteries, hardware and home improvement, home and garden control, personal care, global auto care and global pet supplies products lines. These increases were partially offset by the negative impact of foreign exchange of $109.2 million and a decrease in small appliances product line. The following table details the principal components of the change in the Consumer Products segment net sales from the Fiscal 2015 Nine Months to the Fiscal 2016 Nine Months (in millions):
Consumer battery sales grew $55.9 million for the Fiscal 2016 Nine Months compared to the Fiscal 2015 Nine Months primarily driven by an increase in sales in North America of $14.5 million due to higher alkaline volumes of branded product from holiday promotions partially offset by reduced retail inventory levels of specialty batteries and lighting products; increases in Europe of $31.0 million from an increase in hearing aid and specialty batteries of $11.6 million due to higher volumes with existing and new customers, and increase in alkaline sales of $16.6 million from an increase in volumes of branded product from holiday promotions and new private label customers; and increases in Latin America of $9.1 million attributable to improved volumes of alkaline and specialty batteries with existing customers coupled with regional pricing increases. Hardware and home improvement products organic net sales improved $52.2 million for the Fiscal 2016 Nine Months compared to the Fiscal 2015 Nine Months, primarily attributable to increases in security products of $38.3 million from higher volumes with existing retail relationships, e-commerce channel, and market growth with non-retail customers, and increases in plumbing products of $13.3 million due to new products and an increase in volumes with both retail and non-retail customers. The increases were adversely impacted by $19.7 million for the expiration of a customer tolling agreement and planned exit of unprofitable businesses. Home and garden control products organic net sales increased $49.0 million attributable to increases in repellent products of $22.0 million, lawn and garden control products of $15.7 million and household insect control products of $11.3 million. The increases were driven by distribution gains with key retailers and increased retail demand of repellent products in response to the Zika virus, coupled with warmer weather extending the outdoor season and the timing of seasonal inventory sales to retailers earlier than the prior year. Personal care products organic net sales improved $15.1 million for the Fiscal 2016 Nine Months compared to the Fiscal 2015 Nine Months primarily attributable to increases in Europe of $10.2 million for increased promotional volumes and continued expansion in Eastern European markets; increases in Latin America of $6.3 million from promotional volumes and new product introductions; increases of $4.0 million in Asia-Pacific markets; offset by decreases in North America of $5.4 million due to timing between periods and softer point of sales in category and reduction in retail inventory. 51 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| << Previous Page | Next Page >> | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||