Housing Slump Hurts Sales at Fortune Brands
Added:
October 28, 2008
DEERFIELD, IL — Fortune Brands lowered its profit forecast for the year after the slumping American housing market sent sales in its home and hardware unit, which produces Moen faucets and Aristokraft cabinets, down 20%, according to Bloomberg News. Fortune gets nearly half of its revenue from home and hardware sales. Earnings per share also are expected to drop.
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