BIC's stationery sales 'encouraging' in first quarter
| 01 May, 2018
BIC reports that net stationery sales were flat in Europe, with a slight decline in France and the UK, partially offset by distribution gains in Southern Europe.
In North America, net sales increased low-single digits thanks to a good start to the year in the Modern Mass Market and a strong performance in online sales. Latin America achieved a low-single digit increase with solid execution in Mexico, offsetting a weak performance in Brazil, due to inventory adjustments by several retailers.
In the Middle-East and Africa regions, net sales increased double-digits mainly due to a robust back-to-school season in South Africa, which resulted in market share gains. In India, Cello Pens Domestic net sales were flat on a comparative basis. Cello continues to streamline its portfolio through a product trade-up strategy and is gaining awareness through impactful Brand Support initiatives.
Commenting on the Q1 2018 results, Bruno Bich, Chairman, and Chief Executive Officer said: “Stationery Q1 2018 Net Sales are encouraging. In Lighters, we benefited from distribution gains in Traditional Channels and increased instore visibility. In Shavers, Net Sales continued to be impacted by category disruption. Yet, our new product launches have been well received by consumers. As anticipated, Brazil performance remains weak, as a result of challenging market conditions and retailers’ inventory adjustments. In this volatile environment, we continued to invest in Human Resources and Brand Support to sustain our long-term goals."