Wednesday, November 09, 2022
ACCO Brands Corporation is one of the world’s largest designers, marketers and manufacturers of branded academic, consumer and business products. Our widely recognized brands include AT-A-GLANCE®, Esselte®, Five Star®, GBC®, Kensington®, Leitz®, Mead®, PowerA®, Quartet®, Rapid®, Rexel®, Swingline®, Tilibra®, and many others. Our products are sold in more than 100 countries around the world. More information about ACCO Brands, the Home of Great Brands Built by Great People, can be found at www.accobrands.com.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Lots of Positives. A solid back-to-school sell-through in North America, increased market share, a rebound in sales of commercial products, double digit growth in the Kensington brand and computer accessories category, the International segment up over 30% on a comp basis, and growth for gaming accessories in the EMEA and International regions.
But a Tough Environment. Significant high inflation, war in Ukraine, the current energy crisis, and the stronger U.S. dollar, are causing retailers to be cautious on inventory replenishment and impacting consumer sentiment. Lower sales volume has resulted in stranded fixed costs in manufacturing facilities.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.