Interesting quarterly report from Fortune Brands.
Fortune Brands Inc., the Chicago-based conglomerate that owns Master Lock Co. in Oak Creek, is reporting lower sales and dramatically declining revenue.
“Reflecting the impact of the challenging economic environment and adverse foreign exchange (rates),” Fortune Brands reported first-quarter, 2009 net income of $7.4 million, or 5 cents per diluted share, down 93 percent from $120.5 million, or 69 cents per share, for the first quarter of 2008.
Home supplies such as bathroom fixtures, kitchen cabinets and hardware were down 30 percent over the same period last year due to decreasing home construction...
But there IS a hint about citizen activity in the report:
...alcoholic beverage sales were down 3 percent
Thirty percent. Three percent.
Hmmmmm.
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