Total Reported Sales Decrease from 2020
The total reported sales for 2021 was $8.5 billion which is a decrease of 5% from the total reported sales for 2020. This 5% decrease is credited due to the challenges caused by the supply chain constraints and inflation. Specifically, due to the lower sales in its Retail Division caused by the planned closures of 116 stores. On the other hand, the Business Solutions Division’s 2021 fourth quarter reported sales were $1.2 billion. Its 2021 fourth quarter sales were up 2% compared to 2020’s fourth quarter.
COVID|Balance Sheet|New Activity|M&AIn 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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