Sales plunge at Avery Dennison

US-based Avery Dennison has noted around 6 per cent decline in sales in the second quarter of the current fiscal. Dean Scarborough, Chairman & CEO of the company averred, “Despite the headwind from currency translation, we delivered mid-teens growth in adjusted earnings per share and continued to expand adjusted operating margin.” He further added that the consistent execution of strategies, including the turnaround in RBIS (Retail Branding and Information Solutions), will enable the company to meet its long-term goals.

Avery Dennison is a manufacturer and distributor of pressure-sensitive adhesive materials, such as self-adhesive labels, apparel branding labels and tags, RFID inlays, etc.