BIC has reported that its stationery division grew comparable sales by 6,1% in the third quarter.
Q3 stationery net sales were €184,3-million as the company reported a strong back-to-school (BTS) season in Europe, notably in France, and double-digit growth in North America helped by the timing of BTS sell-in and positive BTS sell-out.
In other markets, BIC says it has regained share in Mexico during the BTS season and that Cello Pens in India grew Q3 sales in the low single digits, although its sales for the first nine months of the year declined in the low single digits.
Stationery’s adjusted operating margin in the third quarter fell slightly to 10,4%, but more favourable production costs and lower operating expenses for the first nine months of the year helped margin increase by 60 basis points to 14% for the period as a whole.
By Andy Braithwaite for OPI