PEOPLE IN THE NEWS: Peter Munk
Jacuzzi Brands Corp. today appointed Peter Munk as president of Global Spa, a newly created role.
Munk will focus his efforts on the growth of the spa business worldwide, to include sales and marketing, engineering and product development, and global operations strategy.
Munk joined Jacuzzi in April 2011 as head of the Jacuzzi European business units, Prior to joining Jacuzzihe was president and general manager for ACCO Brands EMEA + Asia, and VP consumer products at Black & Decker Europe.
“The appointment of a global leader of our spa business demonstrates our continued commitment to drive growth worldwide and reflects the global opportunity we envision for this strategic business,” said Bob Rowan, CEO of Jacuzzi Brands. “We are committed to our ongoing investments in product innovation and reliability, and creative marketing programs to drive dealer sales and profitability. The business has seen a strong start to the 2013 season and with the appointment of Peter we are ready to bring global best practices in product, marketing and service to our dealer communities around the world.”
In 2011, Jacuzzi established a new manufacturing facility, and in 2012, embarked on several new marketing initiatives that continue to deliver market share growth for its dealers, the company said
Additionally, Jacuzzi added two new brands to its portfolio with the acquisition of ThermoSpas in 2012 and Dimension One Spas in 2013.
Scotts sees patch of growth in third quarter
In advance of the company’s presentation at an investor conference Tuesday, Scotts Miracle-Gro issued a statement pointing to rising sales in the third quarter.
"U.S. consumer purchases for the fiscal third quarter are up 15% through June 9, giving us continued confidence in the earnings guidance we established heading into the year," said CFO Larry Hilsheimer. "Consumer purchases, which were down more than 25% on a fiscal year-to-date basis entering April, are down 4% through June 9."
The company will present at the William Blair’s 33rd Annual Growth Stock Conference.
Scotts updated individual components of fiscal 2013 guidance, and expects net sales to range from a 1% decrease to an increase of 1% compared with a year ago.
The company reaffirmed improvement of up to 125 basis points in the full-year adjusted gross margin rate.