Essendant announces sales declines
| 27 April, 2017
Essendant reported that revenue declined 6.1% year-over-year to $1.3 billion in the first quarter of 2017.
The wholesaler said that the decline was driven principally by reduced sales in technology products and JanSan categories, partly offset by growth in cut-sheet paper products and industrial supplies categories.
"Our first quarter operating results reflect the impact of our transformation initiatives which enabled us to deliver sequential earnings growth," said Robert B. Aiken, Jr., president and chief executive officer of Essendant.
"We are pleased to be building momentum behind our initiatives, including improvement in our industrial supplies category, and we are on track to enhance Essendant's long-term earnings power, while recognizing we still have work to do to improve our top line."