Newell Brands Earnings: Atlanta Firm Cuts Outlook As Tariffs Raise Costs

Newell Brands’s NWL -33.58%decrease; red down pointing triangle price hikes drew resistance from consumers in the third quarter, pushing sales lower and causing the company to cut its full-year outlook.

The maker of Yankee Candle and Sharpie implemented price increases across a range of its segments to offset tariffs, but competitors didn’t follow suit, management said in the company’s earnings call Friday. “The pricing that we put in the market turned out to position us as being uncompetitive,” said Chief Executive Chris Peterson. “We price to recover the structural economics and competitors basically didn’t follow us during this period.”