3M’s October Sales Grow 3% - Modern Distribution Management

3M’s October Sales Grow 3%

3M reports that sales increased 2% in the Americas and EMEA (Europe, Middle East and Africa) last month as the company continued its post-pandemic momentum.
An expert says lawsuits filed by veterans who blame hearing issues on defective earplugs could bankrupt the company, but 3M calls the interpretation ‘flawed speculation,’ according to Bloomberg.

3M (NYSE: MMM), St. Paul, Minnesota, reported total sales for October increased 3% year-over-year to $2.9 billion. Organic local-currency sales (which includes organic volume impacts and selling price changes) increased 2% while acquisitions, net of divestitures, added 1% and foreign currency translation was flat year-on-year.

Total sales increased 12% in Health Care, 4% in Safety and Industrial, and 7% in Consumer, while Transportation and Electronics declined 4%. Organic local-currency sales increased 8% in Health Care, 4% in Safety and Industrial, and 8% in Consumer, while Transportation and Electronics declined 4%.

On a geographic basis, total sales increased 3% in Asia Pacific and 2% in both EMEA (Europe, Middle East and Africa) and the Americas. Organic local-currency sales increased 2% in the Americas (including the U.S. up 3%), and 1% in both Asia Pacific (including China up 13% and Japan down 4%) and EMEA.

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