The Office Times

Tech Data reports stable sales

Tech Data has announced that worldwide net sales were $10.4 billion for the fourth quarter January 31, 2020, a decrease of 1 percent compared to the prior-year quarter.

Net sales were $4.3 billion in the Americas, an increase of 1 percent compared to the prior-year quarter, while net sales in Europe were $5.8 billion, a decrease of 2 percent compared to the prior-year quarter.

“Our fourth quarter capped a momentous year for Tech Data,” said Rich Hume, chief executive officer. “For the fiscal year 2020, we delivered a strong financial performance while making strategic progress and continuing to deliver higher value to our channel partners, colleagues and shareholders. We ended the year by reaching our biggest milestone yet—the agreement to be acquired by Apollo. We look forward to completing the transaction and working with the Apollo team to accelerate investments in our business.”

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