Home / Knowledge / News / Information Technology / 'Our end-markets remain soft' - Avery Dennison President
'Our end-markets remain soft' - Avery Dennison President
29
Oct '09
Avery Dennison Corporation announced preliminary third quarter 2009 results.

“In the face of continuing tough market conditions we increased operating margin, reflecting the strength of our franchise businesses and the effectiveness of our operating model,” said Dean A. Scarborough, president and chief executive officer of Avery Dennison. “The combination of fixed-cost reductions and increasing variable margins positions the Company for strong profit growth when markets improve.”

“While the rate of volume decline in the third quarter improved compared with the first half of the year, this was largely due to a slowdown in inventory reductions,” Scarborough said. “Our end-markets remain soft, and we continue to be cautious about the pace of their recovery.”

“I want to note the excellent performance of our employees in such uncertain times,” Scarborough said. “They have maintained their focus on serving our customers, operating our businesses, and laying the groundwork for the future. This has been hard work, and they've done a tremendous job.”

Third Quarter, 2009 Results by Segment

All references to sales reflect comparisons on an organic basis, which exclude the impact of acquisitions and foreign currency translation. All references to operating margin exclude the impact of restructuring, asset impairment charges, lease cancellation costs, and other items.

Pressure-sensitive Materials (PSM)
Roll Materials sales declined, reflecting weakness in end-markets. Sales continued to decline in the more economically sensitive Graphics and Reflective Products division.

Operating margin increased as productivity offset the impact of reduced fixed-cost leverage, while the effects of pricing and raw material trends continued to cover the cumulative impact of 2008 inflation.

Retail Information Services (RIS)
The decline in sales primarily reflected reduced demand for apparel in the U.S. and in Europe, and caution on the part of retailers.

The decline in operating margin reflected reduced fixed-cost leverage, pricing, and other factors that more than offset the benefit of restructuring and productivity actions.

The Company is continuing initiatives to reduce fixed costs in light of current market conditions, while introducing new products and improving value-added services to increase its share of this large market.


Must ReadView All

Courtesy: EVG photos from Pexels

Apparel/Garments | On 16th Aug 2018

Bangladesh ups garment export target to $32.689 bn

The Government of Bangladesh has increased the country’s readymade...

Courtesy: PR Newswire

Apparel/Garments | On 16th Aug 2018

Shoppers go to stores for thrifting experiences: Survey

Despite growth in e-commerce, shoppers still head to retail stores...

Pak ministry invests in training textile sector workers

Textiles | On 16th Aug 2018

Pak ministry invests in training textile sector workers

Pakistan’s ministry of commerce and textile industry is offering...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search