Sharpie pen maker Newell Trade-marks said on Thursday it is exploring strategic options for some of its assets that could tone down the number of factories and warehouses as well as its customer base by half.
The entourage’s shares fell 6.1 percent in premarket trading.
The businesses being rated include Waddington, Rubbermaid Commercial Products and Mapa, Rawlings, Goody, and Rubbermaid Outside.
Newell said it intends to start considering options for the businesses without delay and expects any resulting transactions to be completed by the end of 2019.
The company revised its outlook for 2017, stipulating it now expects core sales to be up 0.8 percent, compared with its above guidance of an increase of 1.5 percent to 2 percent.
Core sales consequences were hurt by efforts by retailers to rebalance inventories and the bankruptcy of prime baby product retailer Toys R Us.
The company said it expects controlled earnings per share for 2017 in the range of $2.72 to $2.76, down from its one-time outlook of between $2.80 and $2.85.