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Stock impact report

Yankee Candle maker Newell Brands to close stores and cut 900 jobs [CBS News]

Newell Brands Inc. (NWL) 
Last newell brands inc. earnings: 5/1 07:30 am Check Earnings Report
Company Research Source: CBS News
Newell also said in a statement that it will close roughly 20 Yankee Candle stores across the U.S. and Canada early next year as part of its cost-cutting plan. The layoffs are set to begin this month, according to the Atlanta-based company. Newell's other brands include Mr. Coffee, Oster, Rubbermaid and Sunbeam. The publicly listed company, whose shares have fallen early 62% this year amid slowing growth, launched a turnaround plan in 2023 as it tries to boost sales. The company has also said it will increase its use of automation and artificial intelligence to boost productivity. "We've made meaningful progress executing our strategy and strengthening Newell Brands, but there is more work to do," Newell Brands president and CEO Chris Peterson said in a statement. "This productivity plan is about taking the next, disciplined step to enhance efficiency, sharpen our strategic focus, and deliver stronger, more consistent performance." In October, Newell reported third-quarter net Show less Read more
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