“we now expect to launch over 250 new products this year, exceeding our goal of 215 and pacing ahead of our Investor Day target of 1,000 new products through 2027.”

In context

“Most notable this quarter is our work on Commercial eXcellence. The rigor associated with turning customer opportunities into wins faster is clear and we are squarely focused on accounts with the highest potential while limiting special pricing actions. Our cross-selling program continues to outperform our expectations, and we have nearly doubled the pipeline since last quarter and closed on nearly $30 million of new business. To reduce churn, we are leveraging predictive analytics to win back business lost or at risk. And the sales organization is stepping up its performance embracing the up-tempo operating rigor and leveraging new tools and processes to win at the customer interface. We launched 70 new products in the quarter and 196 year-to-date, both up about 70% versus last year, and we now expect to launch over 250 new products this year, exceeding our goal of 215 and pacing ahead of our Investor Day target of 1,000 new products through 2027. We continue to shift resources towards new product development, align investment to our priority verticals and drive accountability for on-time launch attainment. And most importantly, we're beginning to bend the curve on revenue from new products with sales from products launched in the last 5 years up 30% in Q3 and 16% year-to-date, tracking to be up high teens for the full year. I wanted to highlight a few specific product launches this year that contributed to our performance this quarter. Earlier this year, we launched ScotchBlue PROSharp Painter's Tape, a great example of a Class III product in our consumer business that replaces an existing offering in this space, but with a better performance and cost profile. We're now regaining share, growing high single digits and outperforming”