Sunbeam Foresees Lower First-Quarter Sales

Sunbeam Corp. warned that its first-quarter sales may not meet expectations of $285 million to $295 million, but did not discuss what effect the lower sales would have on earnings. The maker of Sunbeam toasters and Oster blenders cited a decline in orders from major retailers seeking to stock fewer products to cut warehouse and distribution costs. However, Sunbeam said sales would exceed the $253.4 million it posted in the year-earlier period and said it is “highly confident about the overall sales outlook” for the full year. Justin Maurer, an analyst with McDonald & Co., said that any shortfall in Sunbeam’s sales would be slight and that the company raised the possibility because of disclosure issues from a planned offering of convertible bonds as it finances its planned acquisitions of Coleman Co., Signature Brands USA and First Alert Inc. Delray Beach, Fla.-based Sunbeam’s shares fell $4.69 to close at $45.38 on the New York Stock Exchange.