Posted July 27, 2018

Essendant sales decline 0.5 percent

Essendant said its second quarter sales declined 0.5 percent to $1.3 billion in the quarter, when compared to the prior year quarter.

The decline was driven by reduced sales in the national reseller channel being partially offset by higher sales in the industrial, independent reseller and automotive channels

The industrial supplies segment sales increased 11.6 percent to $163.0 million.

The company had a net loss of $0.1 million, or 0 cents per share, compared to income of $5.1 million, or 14 cents, in the same period last year.

"Our efforts to drive sales growth in key channels began to offset the decline from national resellers. Our cost reduction efforts are successfully ramping, and our restructuring program continues to deliver expected result," said Ric Phillips, president and chief executive officer.