The 2020 Mid-Year Economic Update_long

Essendant’s Sales Down in Q1

Merger with S.P. Richards set to close before end of 2018.

Essendant Inc. (NASDAQ: ESND), Deerfield, IL, reported first-quarter sales of $1.2 billion, a 2.3 percent decline compared to the first quarter of 2017. The company reported a loss of $51.4 million, including restructuring actions of $44 million, after-tax.

Sales of jan-san products fell 5 percent to $328.2 million; technology products fell less than 1 percent to $314.7 million; office products fell 9.6 percent to $179 million; and office furniture decreased 18.4 percent to $58.8 million. Sales of industrial supplies increased 5.7 percent to $155.6 million; cut-sheet paper products increased 12.6 percent to $119.5 million; and automotive products increased 2.8 percent to $81 million.

Essendant announced April 12 that it will merge with Genuine Parts Co.’s S.P. Richards business. The deal is expected to close before the end of the year.

 

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