3M reports drop in stationery sales
| 27 October, 2014
3M has reported that stationery and office supplies declined year-on-year on an organic local-currency basis during the third quarter.
However, local-currency sales increased 3.1 percentt in the Consumer Group of 3M to $1.2 billion.
"This was another strong quarter for 3M,” said Inge G. Thulin, 3M’s chairman, president and chief executive officer. “The 3M team once again delivered broad-based organic growth with operating margins exceeding 22 percent in all businesses. As we look forward, our focus will remain on actively managing the portfolio and strategically investing in the business to continue delivering profitable growth across the company. 3M remains on track to deliver its long-term financial objectives.”