January 25, 2018 / 3:14 PM / a year ago

UPDATE 1-Newell says exploring strategic options for some assets

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Jan 25 (Reuters) - Sharpie pen maker Newell Brands said on Thursday it is exploring strategic options for some of its assets that could reduce the number of factories and warehouses as well as its customer base by half.

The company's shares fell 6.1 percent in premarket trading.

The businesses being evaluated include Waddington, Rubbermaid Commercial Products and Mapa, Rawlings, Goody and Rubbermaid Outdoor.

Newell said it intends to start considering options for the businesses immediately and expects any resulting transactions to be completed by the end of 2019.

The company revised its outlook for 2017, saying it now expects core sales to be up 0.8 percent, compared with its previous guidance of an increase of 1.5 percent to 2.0 percent.

Core sales results were hurt by efforts by retailers to rebalance inventories and the bankruptcy of leading baby product retailer Toys R Us.

The company said it expects normalized earnings per share for 2017 in the range of $2.72 to $2.76, down from its previous outlook of between $2.80 and $2.85. (Reporting by Vibhuti Sharma and Sangameswaran S in Bengaluru; Editing by Arun Koyyur)

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