Jarden releases guidance for Q4 revenue
Jarden (NYSE: JAH), parent of Coleman, K2 and Marmot, reported fiscal fourth-quarter revenue predictions that are below analyst expectations. It expects fiscal fourth-quarter revenue of $1.3 billion, below analysts' average estimate of $1.46 billion.
In 2009, Jarden expects more than $5 billion in revenue, compared with analysts' average $5.38 billion estimate. Jarden said better raw-material commodity costs should help results in the second half of 2009.
The company said it does not traditionally give short-term financial guidance but decided to give investors its revenue outlook to help them "estimate the impact of the current volatility on our near-term performance" due to the financial-market volatility of the past few months.
VF board elects corporate VP
VF Corp.'s (NYSE: VFC) board of directors has elected Karl Heinz Salzburger as a corporate vice president, effective Jan. 4. He has also been promoted to president – VF International and named a member of VF's Operating Committee. Formerly, he was president – VF EMEA and Asia.
VF said Salzburger will continue to be responsible for driving the growth of VF's brands throughout Europe, the Middle East, Africa and the Asia-Pacific region, reporting to Eric Wiseman, Chairman and Chief Executive Officer of VF. He's based in Lugano, Switzerland.
--Compiled by Wendy Geister
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