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Newell Brands: Google Search info shows decline in key brand

As we noted in yesterdays report, Newell Brands Inc (NWL or the Company) uses accounting tricks
and sits on a ton of poorly performing brands. Having gotten lucky with a couple of fads, NWL is now
poised to fail.

Yesterday we discussed slime. Now its time to talk about adult coloring.

Speaking at an investor conference in February, CEO Michael Polk had the

following to say about Prismacolor, NWLs brand of adult coloring books Company: Newell Brands
(emphasis added):
Ticker: NWL

Industry: Consumer
Adult coloring. This is one we are stimulating today. Therapeutic Discretionary
coloring. This is what I describe it to folks as. How many of you do it?
Stock Price as of
Be honest. How many of you -- there is one in the back. One honest
10/11/2017: $43.17
person in a room of 500. My wife doesn't. Although, it is a bit of an
issue because you don't want to admit you do it, but a lot of people Market Cap:$21.157bn
are doing this. It's a destressor. Prismacolor, the business is closing in
on becoming a $200 million brand. $200 million brand in 2017. 55% Daily Volume: 4,026,369
POS growth. We have the opportunity to capture these things. (3 month avg.)

Price Target: $19.16

However, Google Trends shows declining interest in adult coloring books.

See next page for charts:

If Polk was planning on 55% growth for adult coloring in 2017, hes probably
going to be sorely disappointed. Polk could be forgiven for his optimism at
the beginning of the year, but based on consumer interest, it appears
guidance needs to be updated.

A 55% growth rate to $200 million implies a $70mm of sales growth. Given
the TOTAL Core Sales Growth in 2016 was only $95mm. A slowdown in
Prismacolor combined with a slowdown in Elmers on the fading of the slime
trend could seriously weaken NWLs ability to deliver any growth at all.