Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Rawlings' owner beats estimates * Newell Brands Inc., the parent company of Town and Country-based Rawlings that is under pressure from activist investor Starboard Value, reported better-than-expected quarterly results and forecast current-quarter sales and profit ahead of estimates.

Newell's play segment, which includes Rawlings, reported revenue of $2.58 billion for 2017, up from $1.87 billion in 2016. The company said the increase was driven by strong growth with its Coleman, Contigo, Marmot and Team Sports products.

Newell said last month it would explore options for some of its assets, including a sale of Rawlings.

The results come a few days after the hedge fund Starboard said in a letter it was seeking to replace Newell's entire board and oust its CEO, expressing concerns over the company's underperformance.

Newell forecast net sales of $14.4 billion to $14.8 billion and an adjusted profit of $2.65-$2.85 per share for 2018.

New CEO at LMI Aerospace * St. Charles-based LMI Aerospace named Lawrence "Ed" Dickinson III CEO of the provider of aircraft parts and engineering services.

Dickinson joined LMI in 1993 as chief financial officer and held other roles before retiring in June 2016. He served in a consulting role until he was named interim chief operating officer in November. Cliff Stebe, CFO since November 2013 and interim CEO since October 2017, will continue as CFO, the company said.

Brick River Cider opens downtown * Brick River Ciders is holding a grand opening this weekend at a defunct downtown firehouse at 2000 Washington Avenue.

The company, founded by Russ John, who had previously worked as a managing director of local private equity firm Benton Hill Capital, put nearly $2 million into renovating the building.

Brick River Cider has two flagship products: Homestead, an unfiltered semi-sweet farmhouse style cider, and Cornerstone, a semi-dry cider. …

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