3 High-Yield Dividend Stocks Trading at a Discount Acco Brands (NYSE:ACCO) said second-quarter sales increased 5% from a year earlier, exceeding the company’s outlook, as strength in its Americas business, the recently acquired EPOS business and favorable foreign exchange more…
an offset weaker demand in several international and technology-peripheral markets. President and Chief Executive Officer Tom Tedford said the company’s first-half performance reflected its multiyear cost-reduction program, commercial initiatives and strategic growth efforts
Based on those results, Acco raised its full-year outlook for reported sales and adjusted earnings per share, while retaining a cautious view of demand in the second half. Sales Growth Led by Americas and EPOS Reported second-quarter sales rose 5%, while comparable sales declined 2%, according to Executive Vice President and Chief Financial Officer Deb O’Connor. The difference reflected contributions from the EPOS acquisition and favorable currency movements.
In the Americas segment, sales rose 6% and comparable sales increased 2%. The company cited strong North American back-to-school placements and growth in Mexico, particularly in learning and creative products. Those gains were partly offset by softer conditions in Brazil, core office products and technology peripherals.