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NEWELL UPDATES THIRD QUARTER OUTLOOK

 NEWELL UPDATES THIRD QUARTER OUTLOOK
 FREEPORT, Ill., Sept. 18 /PRNewswire/ -- Newell (NYSE: NWL)


announced today that sales and earnings are expected to achieve record levels in the third quarter of 1992, however, they will not reach the company's original targets. After reviewing August results and trends for September, Newell expects third quarter 1992 earnings will be up 8 percent to 10 percent from the $0.50 produced in the third quarter of 1991 (after restatement for the purchase of Sanford).
 Sales are expected to be up approximately 17 percent, reflecting the recent acquisition of Stuart Hall, with sales growth at existing businesses approximating 5 percent. Sales are being negatively impacted by continuing softness in the economy, which is reflected in lower-than-expected demand from Newell's retail customers across most product lines. Sales at the company's packaging unit have been adversely affected by soft demand from food-processing companies. Earnings are being adversely affected by this weakness in sales and by unfavorable shifts in sales mix at several product lines, as well as production problems in the packaging operations.
 For 1992 as a whole, earnings per share should exceed 1991 by 10 percent to 12 percent, assuming a timely close to the purchase of Intercraft and no further deterioration in the retail sector.
 Newell manufactures and markets high-volume hardware/housewares, office and industrial products. Hardware/housewares products are sold principally through discount, variety, chain and hardware stores, hardware and housewares distributors and home improvement centers. Office products are sold through mass-market chains, office product superstores and office product dealers and wholesalers. Industrial products are sold directly and through distributors to volume purchasers.
 -0- 9/18/92
 /CONTACT: William T. Alldredge, VP-finance of Newell, 815-961-2114/
 (NWL) CO: Newell Co. ST: Illinois IN: HOU SU: ERP


BP-EH -- SD006 -- 1260 09/18/92 16:14 EDT
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Publication:PR Newswire
Date:Sep 18, 1992
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