ACCO Brands reports strong BTS sales in North America
| 30 October, 2019
ACCO Brands reports that sales in EMEA North America decreased 7.0 percent from $143.1 million to $133.1 million last year, primarily due to adverse foreign exchange that reduced sales by 4.7 percent.
However, sales in North America increased 3.4 percent to $272.4 million from $263.4 million last year. Comparable sales increased 3.5 percent. The sales increase was driven by price increases and a strong back-to-school season.
"Our results in the quarter and year to date show a continuation of good execution of our strategies. North America finished the back-to-school season strongly, and delivered good sales and adjusted operating income growth for the quarter and the full season," said Boris Elisman, Chairman, President and Chief Executive Officer of ACCO Brands.
"The acquisition of Foroni, a premier Brazilian manufacturer and marketer of consumer and school products, continued our expansion into more attractive geographies," Elisman added.