Housing Slump Impacting Fortune Brands’ Results

Deerfield, IL — Fortune Brands, the publicly-traded conglomerate whose home and hardware brands include Moen faucets and cabinet brands Aristokraft, Omega, Diamond and Kitchen Craft, reported a 9% sales decline in the second quarter of 2008, largely a reflection of the continued downturn in housing.

The Deerfield, IL-based Fortune Brands, which also has major holdings in the spirits and golf equipment businesses, reported that second-quarter net sales from continuing operations were $2.1 billion, down 9% from the level posted in the second quarter of 2007.

Strong growth in Asian markets for some of the company’s other brands “partly offset the adverse impact of the ongoing correction in the U.S. housing market (and) the softening consumer environment in the U.S.,” the company said.

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