BIC reports decline in stationery sales
| 25 April, 2019
BIC reports that stationery net sales decreased by 2.3% during Q1 and 5.8% on a comparative basis.
In Europe, net sales grew slightly. BIC says it outperformed a declining market and delivered strong e-commerce growth. In France, it gained 1.6 points value share thanks to a solid performance of its new product the Gelocity Full Grip.
In North America net sales increased low-single digit. In a flat market, sales performance was driven by continued growth in the gel segment and in e-commerce. In Latin America, net sales decreased high single-digit.
BIC says that it in The Middle East and Africa it has begun to see the benefits from the transfer of Haco Industries’ manufacturing facilities and distribution activities in Kenya, in line with its proximity strategy to grow further in Africa.