Shares of Fortune Brands Home & Security Inc (NYSE:FBHS) ended Friday session in red amid volatile trading. The shares closed down -3.22 points or -5.20% at $58.72 with 153.90 million shares getting traded. Post opening the session at $61.55 the shares hit an intraday low of $58.58 and an intraday high of $61.55 and the price vacillated in this range throughout the day. The company has a market cap of $8.95 billion and the numbers of outstanding shares have been calculated to be 153.90 million shares.
Fortune Brands Home & Security Inc (FBHS) on August 19, 2016 announced the creation of a new Global Plumbing Group (GPG), a strategic first step to accelerate growth opportunities and transform its plumbing business. Fortune Brands has completed its first acquisition under the GPG, Riobel, and has also signed an agreement to acquire ROHL and its brands.
“The creation of the GPG platform provides the foundation to accelerate growth in our plumbing segment, providing the critical infrastructure to support a multi-brand, -channel and -geography plumbing business,” said Chris Klein, chief executive officer, Fortune Brands. “Most importantly, the GPG platform enhances the potential for future growth opportunities as we look to grow plumbing sales to $2.5 billion by 2020.”
The GPG platform will support the growth of multiple plumbing brands simultaneously with an enhanced set of products and brands while leveraging the Company’s global supply chain and broad distribution network. It paves the way for the addition of acquisitions, joint ventures, supply agreements and distribution agreements, and allows for seamless integration of new products and brands. It also accelerates synergistic growth opportunities and initiatives across the Company’s plumbing business.
Nicholas Fink has been named as president of the GPG. He joined Fortune Brands in 2015 from Beam Suntory where he was the president of Asia Pacific and South America, leading eight operating units in 45 markets while growing market share and integrating businesses. He brings an established track record as a results-oriented leader with strengths in international markets, industry-leading consumer brands and successful M&A transactions. Fink has been leading Fortune Brands’ Global Growth & Development team since joining the Company.
Shares of Skechers USA Inc (NYSE:SKX) ended Friday session in red amid volatile trading. The shares closed down -0.63 points or -2.61% at $23.48 with 133.32 million shares getting traded. Post opening the session at $ 24.00 the shares hit an intraday low of $23.48 and an intraday high of $24.00 and the price vacillated in this range throughout the day. The company has a market cap of $3.67 billion and the numbers of outstanding shares have been calculated to be 133.32 million shares.
Skechers USA Inc (SKX) on September 1, 2016 announced that LPGA rising star and World number three golfer, Brooke Henderson, will join the roster of elite Skechers GO GOLF athletes. The LPGA champion signed a multi-year global deal with Skechers Performance and will be featured in marketing campaigns for Skechers GO GOLF footwear.
“From the moment I tried the shoes and tested them on the course, I immediately loved the Skechers GO GOLF line,” said Henderson, who is teeing it up this week at the Manulife LPGA Classic. “I can’t think of a better fit for me and I’m excited for the opportunity to represent the brand. The exceptional product has really helped me with my game.”
At 18 years old, Henderson returned home to her native Canada after a solid performance in Rio. One month prior to Rio, Henderson had her first Major win at the KPMG Women’s PGA Championship on June 16, 2016. As an amateur in 2014, Henderson’s 10th place tie for the 2014 Women’s US Open quickly positioned her as the top ranking woman amateur golfer in the world at the age of 16. Since her professional debut in December of that same year, Henderson has continued to climb with a current rank of number three in the world.
“We really love Brooke’s game, and her input is going to be so valuable,” said Skechers Performance Senior Vice President Merchandising/Marketing, Rick Higgins. “She’s just getting started, and we’re thrilled to be partnering with her.”