3M’s May Sales Down 20% - Modern Distribution Management

Log In

3M’s May Sales Down 20%

U.S. sales decrease 22 percent as company continues to deal with uncertainty surrounding the COVID-19 pandemic.

3M (NYSE: MMM), St. Paul, Minnesota, reported total sales for May declined 20% year-over-year to $2.2 billion. Organic local-currency sales (which includes organic volume impacts and selling price changes) declined 21 percent while acquisitions, net of divestitures, increased sales by 2 percent. Foreign currency translation reduced sales by 1 percent year-on-year.

Total sales declined 11% in health care, 12% in consumer, 17% in safety and industrial, and 30% in transportation and electronics. Organic local-currency sales declined 11% in consumer, 15% in safety and industrial, 22% in health care, and 28% in transportation and electronics.

On a geographic basis, total sales declined 15% in Asia Pacific, 21% in the Americas and 26% in EMEA (Europe, Middle East and Africa). Organic local-currency sales declined 15% in Asia Pacific (including China down 6% and Japan down 18%), the Americas declined 24% (including the U.S. down 22%), and EMEA declined 25%.

On April 28, the company withdrew its full-year 2020 outlook due to the uncertain impact of the COVID-19 pandemic and committed to provide monthly updates until it is better able to forecast future performance.

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.