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NEWELL UPDATES SECOND QUARTER OUTLOOK

 FREEPORT, Ill., June 7 /PRNewswire/ -- Newell (NYSE: NWL) announced today that because of continued softness at retail, it is unlikely the company will reach its second quarter 1993 earnings target. Earnings per share expectations for the quarter had been flat or slightly above the 46 cents reported in the second quarter of 1992. Because of the continued softness at retail, second quarter earnings per share could be highly below last year. Despite the soft retail conditions, record sales are expected in the second quarter of 1993, due to acquisitions and continuing internal growth. In addition, excluding the impact of the earnings contribution from the recently divested closures business and special one-time gains in 1992, earnings per share for the second quarter of 1993 should reach record levels.
 Commenting on the outlook, William P. Sovey, CEO, stated "Sales in June appear stronger than in April or May but not strong enough to give us confidence that we will achieve out original EPS targets. We are encouraged by the improvement in June and continue to be optimistic for sales growth in the second half. We are also pleased with the prospects for earnings contribution from Levolor, which was acquired by Newell in April, 1993."
 Newell manufactures and markets staple consumer products which are sold through a variety of retail and wholesale distribution channels. Product categories include hardware, housewares, and office products.
 -0- 6/7/93
 /CONTACT: William T. Alldredge, vice president-finance, of Newell, 815-235-4171/
 (NWL)


CO: Newell Co. ST: Illinois IN: HOU SU:

TS-LR -- NY017 -- 5816 06/07/93 08:33 EDT
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Publication:PR Newswire
Date:Jun 7, 1993
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