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Post-it notes maker 3M's quarterly sales fall 5.5%

Tuesday, January 26, 2016 - 21:20
2611637299502 - 26_01_2016 - FILE NETHERLANDS ECONOMY 3M.jpg
3M Co, the maker of Scotch tape and Post-it notes, reported a 5.5 per cent decline in fourth-quarter net sales, hurt by a global economic slowdown.

[NEW YORK] 3M Co, the maker of Scotch tape and Post-it notes, reported a 5.5 per cent decline in fourth-quarter net sales, hurt by a global economic slowdown.

Net sales fell to US$7.30 billion in the fourth quarter ended Dec 31, from US$7.72 billion, a year earlier.

Net income attributable to the company fell to US$1.04 billion, or $1.66 per share, from US$1.18 billion, or $1.81 per share, a year ago.

Excluding restructuring charges, 3M earned $1.80 per share.

The company affirmed its 2016 sales and earnings forecast.

REUTERS

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