3M reports declines in stationery and office supplies
| 30 January, 2020
3M reports that sales in its Consumer division were $1.3 billion, flat in U.S. dollars. Sales grew in home improvement and home care, while there were declines in stationery and office supplies.
Sales performed strongest in Latin America/Canada and the U.S. However, there were declines in EMEA and Asia Pacific.
“Our team executed well in the fourth quarter and delivered results that were in-line with our expectations,” said Mike Roman, 3M chairman and chief executive officer. “While we continued to manage challenges in certain key end markets, we generated solid underlying margins and robust free cash flow.”
Roman continued, “We also continue to build for the future, including the launch of our new global operating model which represents the next phase of our transformation journey. As a result of our actions, we are well positioned to improve our performance, return to growth and deliver a successful 2020.”