Newell Brands Inc. (NASDAQ: NWL) stock has been under pressure lately, with shares dropping as much as 21.5% in the past three months, while the broader Zacks Consumer Products – Staples industry has dipped 1.9%. The stock's current trading level is 36% below its 52-week high of $10.72. The company has been witnessing a challenging macroeconomic environment and elevated levels of core inflation that have led to muted demand for discretionary and durable products. This resulted in a 7.8% year-over-year decline in second-quarter 2024 revenues, following a revenue decline of 4.2% year over year in the preceding quarter. The decline was driven by reduced core sales, adverse currency impacts and business exits. Looking ahead, Newell Brands management provided a dismal outlook for the upcoming quarters. For the third quarter, the company expects a 4-6% decline in net sales, with core sales anticipated to be between flat and a 2% decline. For 2024, it forecasts a year-over-year sales decrease of 6-7%, alongside a core sales decline of 3-4%. These estimates reflect anticipated pressure on various product categories, with expected declines in low single digits. Additionally, the company has been facing a higher-than-previously anticipated headwind from foreign exchange, backed by current spot rates. This ...