Stationery sales slump at BIC

BIC’s Stationery division faced another tough Q2 2018 as it battles market headwinds.
The company reported quarterly sales of €249.5 million ($291.4 million), a decrease of 6.4% from the same period last year or 1.7% in constant currency.
In its operating regions, there was some growth in North America, where sales grew in the mid-single digits following a strong performance in e-commerce and positive back-to-school (BTS) phasing.
In Europe, sales were flat as a solid performance in Southern Europe was offset by negative BTS sales in France.
Latin America saw sales fall in the low-single digits, partly due to a ten-day transportation strike in Brazil, as well as a poor start to the BTS season in Mexico.
In India, BIC’s subsidiary Cello Pens reported flat domestic sales due to continuing product trade-up strategy and portfolio streamlining.
Overall, BIC reported sales declining 9.2% or 3.1% in constant currency, to €543.9 million.
Stationery sales for H1 2018 fell 7.4% to €401.3 million and 10.5% to €959.3 million for the company overall.
BIC CEO Gonzalve Bich said: “Faced with market headwinds in the first half, we continue to invest in our business and drive operational effectiveness, thus enabling us to seize opportunities to deliver future growth. We expect sales growth across all categories and solid growth in e-commerce in US stationery.”


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