Avery Dennison shows promise and growth with Q1 2022 earnings
On April 26, 2022, Avery Dennison released its Q1 2022 earnings as the company reports that despite the challenges presented from the COVID-19 (coronavirus) pandemic. The company's sales grew by 8.0%, totaling $1.5 billion in the quarter. The reason for this growth was linked to its overall growth in its label and packaging business segment. Another part that helped this company in the period was its highly-performing retail branding segment. The company however cited that inflationary pressures will affect its business in 2022.
Balance SheetIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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