third call. for Good joining Sofya. morning, thank you, everyone us on you our quarter Thank and
their business dollar. results the impact positions, our over of stronger inflationary year, on right-size the performance a the quarter, a environment both as pressure retailers as decelerated of the well the reflecting strong and the half operating tough consumer Following inventory in many third first company’s as
shifting customers into orders impacted performance QX by half. the Additionally, unfavorably was first
business of last result quarter, these This margin, all not business orders sales growth including Ball, impacted despite X.X% level offset on XX International was Many comparison in XX.X% in challenging Rubbermaid same a and region due sales Asia-Pacific. actions. declined to key units, exchange we a growth Contigo. and brands X.X% X.X% inventory XXX except year-over-year the experience in COVID-related EXPO, year-to-date, and APAC Commercial show as in to markets outside EMEA America the pullback Ukraine year-over-year, containment had of year expanded turned inflationary concerns core continue the growth EMEA Rubbermaid continued and markets. X.X% significant on did top commercial in Newell’s lockdowns our reductions the basis significant region, on confidence foreign as consumer with Sharpie, as points and operating on North the factors, declines Weak certain North of normalized in surrounding as a war Mate, by weigh impact a America Core inflation in sales points margin basis progress negative of record productivity year-over-year year. of operating cost to declined declined customer America restrictions and headwinds. strength on Year-to-date, was normalized Products, Core by outpaced the Paper ago core Elmer’s, despite contracted which sales there. deleveraging As top declining XX.X% strong corresponding retailer headwind. Latin a
to year-over-year, it moderated XXXX third exceed and the levels, consumption both quarter continues during domestic year-to-date. While
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XXXX architecture relates to brand dynamic innovation convey the have it continuing in strong in markets value. been we operating invest year and has that writing and price building key the as ensure in a are followed a customer pack to strong We backdrop, geopolitical by and overall well consumer first Brands as cities of results, the been behavior also and has half. significant as tale half environment. the with two macroeconomic a Newell XXXX in back slowdown right for
impact. expect take over to on actions to pricing and margin years and with do gross step help backwards of disciplined unfavorable cost Despite massive the we very this on been productivity inflation. past year the have a inflation of due impact high deleveraging, level mitigate We the X fixed progress pricing, to currency
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With near-term. the and in more backdrop uncertainty expect difficult getting macro in months, economic recent persist external to we disruptions the
environment As plan a in XXXX it’s prudent for line. softer recessionary with a we top a result, think to
include: transforming redirecting the scale particular, and delivering flow number gross right-size and office and inventories; top leverage We the with and as speed turbocharge and diverse that writing maximize Newell meet a that are third, businesses, context, and this the promotion number brands to and exchange to the adjust of are portfolio to spending higher reducing environment five within investment two, in SKU as while level control rationalization, creating our our overheads complexity margins we transactional best cash well power One playbook three, while internationally as and mitigate our U.S. of manufacturing company’s portfolio as number impact; company’s operations profits driving by innovation managing finally, expenses to a discretionary we the Within and as accelerating the agility of and on by leveraging mega significantly simplification significantly actions productivity generation we footprint; and taking to focused optimizing to in priorities and laser accelerating consumer in reduction closely advertising and needs; of customer towards foreign cash. recovery both are we turbocharge margin one, price next the internationally the acting brands.
between approach challenges volatility. we are ensuring a navigate applying effectively short-term and Importantly, the we balanced through
is maintaining our to long-term stronger goal out macros ultimate even the the focus, improve. to While position as come the company
and the approach prowess, our advantage harness operationally drive on consumer enabled chain decisive several more past focus our taken the agile much on leverage to and years challenges be executing us customer-centric competitive to resilient and to agenda. and believe and We have fragmentation, to continue We over our growth. our will while The transform company. profitable and actions a e-commerce have manufacturing international the efficiencies strength to Newell scale we to synergies, omni on a vigorously pandemic-related build sustainable address drive supply to turnaround brands, One reduce complexity of realize reduce build
onwards now to I ahead to over continue for And a see upwards. it long Chris. turn value runway We creation, will and
