1046 ET - Latin American sales of WD-40's signature Multi-Use Product grew 63% year over year, CEO Steve Brass tells analysts on a call. That's thanks in part to its new direct distribution model in Brazil, which boosted overall net sales in the country by almost $7 million for the fiscal year, he says. The company made the same change in Mexico in 2020, and it's still paying off--sales there grew 24% year over year. "Investors sometimes overlook the significant global expansion opportunities still available, even after 71 years, for the blue and yellow can with the little red top," Brass says. WD-40 is off 2.9%. (jasmine.li@wsj.com)
(END) Dow Jones Newswires
October 18, 2024 10:46 ET (14:46 GMT)
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