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Jarden Forecasts Sales Drop
Dec 10, 2008
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Jarden said it expects its 4Q 2008 revenue to total about US$1.3 billion, which would be more than 11% below its 4Q revenue of 2007. In a statement, Jarden said it also expects 2009 total revenue to exceed $5 billion.

Martin Franklin, chairman and CEO, said the company decided to comment on this guidance because of "the exceptional macroeconomic environment and the changes that have occurred within the market over the past several months."

In the statement, Jarden said the lower 4Q sales would come about because of the shrinkage in the markets for its broad product assortment and the overall declines in the retail market. The company also expects that international sales would present a dropoff due to the changing value of the U.S. dollar.

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