Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Peter Lisnic - Robert W. Baird & Co.
Peter Lisnic - Robert W. Baird & Co.
On the taking down the top end of the range, can you weight that for us by segment? It sounds like home and hardware and golf, and I'm guessing home and hardware is the biggest slug of that, is that the right way to think about it?
Craig P. Omtvedt
Yes, it is. As you look at where we're at right now, our expectation is that we will basically be in line with plan in the spirits business and then with the home business being softer than we originally were targeting, I mean, you will recall at the beginning of the year we said we were targeting that we'd be down in the range of 20%, 20% to 25%, and now we're saying down in the range of 25%, so that's a bit worse.
And then clearly the golf business, with the slowdown in discretionary spend, is a bit more challenging.
Peter Lisnic - Robert W. Baird & Co.
If I look at that home business, I'm guessing it's volume or top-line related, because, at least relative to our expectations, that second quarter margin you put up was a bit stronger. And just if I can look at that number that you threw up in the second quarter there, that sequentially the incremental margins were around 40%, and I'm guessing that could be a bit stronger as you realize more of these cost savings initiatives. Is that the right way to think about it? Is 40% kind of a just starting to see the benefits and should we see better incremental as we go forward?
Craig P. Omtvedt
I think that's hard to call. You know, obviously there's variability, quarter to quarter, in terms of the timing of spend and so on and so forth. I think 40% is on the aggressive side. I mean, if you look back at what has been a sequential margins, looking back here over the last several quarters, it's run anywhere in the range of kind of 30% to 40%. So I would say 40% is too aggressive at this point.
Peter Lisnic - Robert W. Baird & Co.
Pricing in terms of the home and hardware business, can you give us a sense of what an overall impact might have been on top line? And then there's talk about obviously deterioration or pressure as volume continues to be under pressure, what you're seeing there, what you're expectations are.
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