Raymond James analyst Joseph Altobello noted the increasing number of news reports indicating Toys R Us, or TRU, is contemplating a liquidation plan and could close all of its U.S. stores. He estimates Toys R Us represented about 1%-2% of Newell Brands' total sales last year and he believes the already announced plans to close 180 stores is reflected in Newell's 2018 normalized EPS guidance, but that the closure of an additional 600+ stores is not. Altobello estimates the added closures could amount to an additional 10c-12c hit to Newell's annualized EPS. Despite what seems to be a depressed valuation, he suggests investors "let the dust settle" and keeps a Market Perform rating on Newell Brands shares.