UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
March 4, 1998 (March 3, 1998)
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Date of Report (Date of earliest event reported)
FORTUNE BRANDS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 1-9076 13-3295276
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
l700 East Putnam Avenue, Old Greenwich, Connecticut 06870-0811
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (203) 698-5000
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INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events.
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Registrant's press release dated March 3, 1998 is filed herewith as
Exhibit 20 and is incorporated herein by reference.
Item 7. Financial Statements and Exhibits.
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(c) Exhibits.
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20. Press release of Registrant dated March 3, 1998.
SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this Current Report to be signed on its
behalf by the undersigned thereunto duly authorized.
FORTUNE BRANDS, INC.
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(Registrant)
By Mark A. Roche
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Mark A. Roche
Vice President and
General Counsel
Date: March 4, 1998
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EXHIBIT INDEX
Sequentially
Exhibit Numbered Page
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20. Press release of Registrant dated
March 3, 1998.
EXHIBIT 20
NEWS RELEASE
NEWS RELEASE
Fortune Brands, Inc., 1700 East Putnam Avenue, Old Greenwich, CT 06870
NEWS RELEASE
Media Relations: Investor Relations:
Roger W. W. Baker Daniel A. Conforti
(203)698-5148 (203)698-5132
FORTUNE BRANDS REAFFIRMS STRONG EARNINGS OUTLOOK
New York, March 3, 1998 -- Fortune Brands, Inc. (NYSE-FO), the consumer products
company, reaffirmed today its strong overall earnings growth outlook. Addressing
concerns about the impact of El Nino and the Asian economic situation on its
golf business, the Company also noted the continuing excellent outlook for those
fast-growing brands.
Speaking at the Merrill Lynch Global Branded Consumer Products
Conference in New York, Fortune Brands Chairman and Chief Executive Officer
Thomas C. Hays said, "We expect strong profit growth from the golf brands in the
current quarter as well as for the full year."
He added that, even though the weather in California and Florida has
affected golf rounds of play there, "our golf business is benefiting from strong
sell-in of new products and tight expense controls. If the poor weather
continues, that would obviously have an impact on top-line growth going forward,
so we're continuing to keep a tight watch on expenses. The Asian situation has
had no significant impact."
Fortune Brands' golf business is the world leader in that category,
anchored by the Titleist, Cobra and FootJoy brands. Last year, sales for the
golf brands reached a record $912 million, up 12%, and operating company
contribution was a record $138 million, up 10%.
Hays also reiterated the Company's overall expectation of 13-15% E.P.S.
growth in 1998, assuming a satisfactory economic and pricing environment and no
further erosion in key foreign currency exchange rates. This is also the
Company's long-term E.P.S. growth goal. Last year, pro forma basic and diluted
E.P.S. were up 16% to $1.51 and $1.48, respectively.
Fortune Brands, Inc. is a consumer products company with headquarters
in Old Greenwich, Connecticut. Its operating companies have powerhouse brands
and leading market positions. Home and office products consist of hardware and
home improvement brands -- including Moen faucets, Master locks and Aristokraft
cabinets sold by units of MasterBrand Industries -- and office products brands
- -- including ACCO World Corporation's Day-Timer and Swingline. Acushnet
Company's golf brands include Titleist, Cobra and FootJoy. Major distilled
spirits brands sold by units of JBB Worldwide, Inc. include Jim Beam and Knob
Creek Bourbon, DeKuyper cordials and Whyte & Mackay Scotch.
* * *
This press release contains statements relating to future results,
which are forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. Actual results may differ materially
from those projected as a result of certain risks and uncertainties, including
but not limited to changes in general economic conditions, foreign exchange rate
fluctuations, competitive product and pricing pressures, the impact of excise
tax increases with respect to distilled spirits, regulatory developments, the
uncertainties of litigation, as well as other risks and uncertainties detailed
from time to time in the Company's Securities and Exchange Commission filings.
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