The 2020 Mid-Year Economic Update_long

United Stationers 2Q Sales Increase 5%

CEO: Focus remains on sales initiatives, cost management, working capital efficiency gains and cash generation.

United Stationers Inc. (NASDAQ: USTR), Deerfield, IL, reported sales for the second quarter were $1.22 billion, up 5.3 percent from second quarter 2009. Profit for the master distributor increased 27.4 percent to $27 million.

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Second-quarter sales growth was driven primarily by growth in the technology (+8.6 percent) and office product (+5.6 percent) categories. Lower sales of flu-related products contributed to a 2.1 percent reduction in janitorial/breakroom supplies.

For the first six months, sales were $2.38 billion, up 4.1 percent from the same period a year ago. Profit increased 30.3 percent to $45.2 million.

\”Our first-half performance gives us confidence that our sales initiatives will help drive growth and overcome lower flu-related product sales and the effects of continued uncertain economic conditions,\” said Richard W. Gochnauer, president and CEO. \”Our focus remains on sales initiatives, cost management, working capital efficiency gains and cash generation to maintain our strong financial position and flexibility, while enabling continued investment in growth strategies, opportunistic investment buys, and share repurchases.\”

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