A challenging trading environment for BIC saw net stationery sales dip by 7.4% to €401.3m, and by 0.1% on a comparative basis in H1 of 2018.
BIC reported sales for the second quarter of $291.4m, down 6.8% as reported, or down 1.4% on a comparative basis.
The market declined by 2.2% in Europe, though the outlook was slightly more upbeat for southern Europe (Spain and Turkey), where net sales were flat. The company reported that this region’s continued solid performance helped to offset losses caused by postponed shipment to customers in France due to negative back-to-school phasing.
E-commerce and continued success for the company’s Gelocity Quick Dry pen helped drive sales in North America, where net sales increased in the mid-single digits.
Gonzalve Bich, CEO of BIC commented: “Faced with market headwinds in the first half, we continue to invest in our business and drive operational effectiveness, thus enabling us to seize opportunities to deliver future growth. We expect sales growth across all categories and solid growth in e-commerce in US stationery.”