Newell Rubbermaid trims sales targets

Newell Rubbermaid on Monday pruned its sales targets for the fourth quarter and year, but maintained its profit view, as it struggles with weakness in the office products retail market.

Shares fell 10% in premarket trading.

Newell Rubbermaid, whose brands include Sharpie, Paper Mate, Rolodex, Graco and Goody, said fourth quarter sales will be essentially flat to those recorded a year ago, and full year sales are expected to rise between 3% and 3.5%. This is down from the prior forecast of sales growth of about 2% for the fourth quarter and about 4% for the year.

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- Posted: 2007-11-26 09:38:37

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