US wholesaler United Stationers expects sales and earnings for the first quarter of 2001 to be below its previously forecast 6 to 9% organic sales growth and 15% growth in earnings per share.
Sales for the two months ending 28 February were up 8.4%, said to reflect modest growth in the core business in addition to contributions from recent acquisitions.
The company said it expects earnings per share to be in the region of $0.59 to $0.63, compared with $0.69 for the same quarter last year. This is due to softness in its core business and continued investment in its logistics and fulfilment business, The Order People, which is expected to report a loss of $6 million to $7 million for quarter one.
16-Mar-2001
