Energizer Holdings Inc said it intends to spin off by next July its struggling household products business, which includes Energizer and Eveready batteries.Shares of the company, which reported an 11 percent sales growth in its largest personal-care business, rose as much as 5.3 percent in early trading.The company said in April it would split into two publicly traded companies - one for household products and the other for personal care products such as Schick razors and Banana Boat sunscreen lotions.Energizer said on Wednesday it expects sales in the household products business to stabilize in the fourth quarter as it raises spending on advertising and marketing.
Energizer Holdings, Inc. (Energizer) is the manufacturer and marketer of primary batteries, portable lighting and personal care products in the wet shave, skin care, feminine care and infant care categories. Shares of ENR traded higher by 2.6% or $2.99/share to $118.06. In the past year, the shares have traded as low as $90.59 and as high as $123.84. On average, 571595 shares of ENR exchange hands on a given day and today's volume is recorded at 755834.
Source
