Newell Brands reported an operating loss of $1.1 billion after impairment charges in the first quarter for its Home & Outdoor Living segment, which includes Coleman and Marmot as well as other brands such as ExOfficio, First Alert or Yankee Candle. On a normalized basis, the segment generated a negative operating margin of 2.0 percent compared with a positive margin of 1.9 percent in the year-ago period. Blaming mainly the retail lockdown in the U.S., unfavorable exchange rates and the closing of 44 Yankee Candle stores, Newell reported a drop in the segment’s revenues to $547 million from $627 million, with core sales going down by 11.3 percent. Adding its other business units, the group reported a total net loss of $1.3 billion and normalized net income of $39 million for the quarter on net sales of $1.9 billion.
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