Playtex Products, Westport. Conn., said in a statement Jan. 11 it will hold 2001 advertising and promotion spending as a percent of sales "essentially in line" with 2000 levels despite warning for the second consecutive quarter that earnings won't be in line with analyst estimates. Chairman-CEO Michael Gallagher blamed a slowing economy and year-end inventory reduction moves by retailers for fourth-quarter sales that the company said fell 5% below those in the fourth quarter of 1999. Grey Worldwide, New York, is Playtex's agency.
Copyright January 2001, Crain Communications Inc.