Thu, Feb. 25, 7:00 PM
- Avery Dennison (AVY +2.3%) has promoted president/chief operating officer Mitchell Butier to the role of chief executive, effective May 1.
- Butier has been nominated for election to the board when the company gathers for its annual meeting April 28. Current CEO Dean Scarborough plans to stay on the board as executive chairman.
- Butier has also been chief operating officer at the company. He joined Avery Dennison in 2000 from PricewaterhouseCoopers, and has held the COO role since November 2014.
Apr. 23, 2014, 9:44 AM
- Avery Dennison (AVY) net income climbed to $71.2M from $57.8M.
- Sales rose almost 5% on an organic basis.
- Sales breakdown: Pressure-sensitive Materials +6%, Retail Branding & Information Solutions +2%.
- Expects FY adjusted EPS from continuing operations of $2.90-3.20 vs consensus of $3.04.
- Shares are -4.8% following the Q1 EPS and revenue misses.
Jul. 23, 2013, 9:46 AM
More on Avery Dennison (AVY) Q2: net profit +7.2% to $68.8M as organic sales increase 5%. Gross margin nudges up to 26.9% from 26%. Sales breakdown: pressure-sensitive-materials +3.1%; retail-branding & information-solutions +7.3% amid higher demand from retailers and brands in U.S. and Europe. Avery Dennison narrows FY EPS guidance to $2.50-2.70 from previous forecast of $2.40-2.75 and vs consensus of $2.58. Shares +3.45%. (PR)| Jul. 23, 2013, 9:46 AM
Jan. 30, 2013, 9:10 AM
Oct. 3, 2012, 5:03 PM
3M (MMM) has terminated its deal to purchase Avery Dennison's (AVY) Office and Consumer Products business. Commenting on the news, Jesse Singh, MMM's VP and GM of Stationery and Office Supplies says “While we are disappointed with this turn of events, we remain focused, as always, on investing in product innovation and providing our customers with a broad range of premier products.” AVY -3.3%, MMM -0.3%.| Oct. 3, 2012, 5:03 PM
Sep. 4, 2012, 4:03 PM
The DOJ is seeking to block 3M's (MMM -1%) $550M takeover of Avery Dennison’s (AVY -5.2%) office-products unit, threatening a lawsuit if it doesn't abandon the transaction. The agency is ready to move to block the merger as soon as the end of this week. As it stands, the deal - which was announced over eight months ago - would combine the two largest label makers in the world.| Sep. 4, 2012, 4:03 PM
Jul. 24, 2012, 10:58 AM
More on Avery Dennison (AVY) Q2: net profit -12% to $64.2M. Narrows FY EPS estimate to $1.90-2.05 from $1.80-2.15 prior, vs. consensus of $1.96. Started restructuring program that will bring $100M in annualized savings, although will take charges of $55M this year and $25M in 2013. Shares +8.75% for some reason.| Jul. 24, 2012, 10:58 AM
Jan. 31, 2012, 2:28 PM
Label and tag maker Avery Dennison (AVY -5.7%) loses ground after its Q4 earnings miss the mark. Profit fell 81% Y/Y on sales declines throughout its retail branding and specialty businesses. The company also lowers 2012 guidance, now expecting its EPS to come in between $1.80 - $2.15, below the Street view of $2.71.| Jan. 31, 2012, 2:28 PM
Jan. 31, 2012, 8:34 AMAvery Dennison (AVY): Q4 EPS of $0.39 misses by $0.08. Revenue of $1.45B (-0.5% Y/Y) misses by $150M. Shares -3.2% premarket. (PR) | Jan. 31, 2012, 8:34 AM
Oct. 26, 2011, 12:44 PM
Avery Dennison's (AVY -5.02%) takes a hit after its Q3 earnings missed the mark, primarily due to weak demand in its retail branding segment. The company says it expects the negative trend to continue, and lowers its FY11 forecast. It now expects to earn between $2.15 - $2.30 per share, below its July projection of $2.45 - $2.75 per share.| Oct. 26, 2011, 12:44 PM
Jul. 19, 2011, 9:00 AM
Jul. 19, 2011, 8:17 AM
Avery Dennison (AVY) lowers its outlook for 2011 on weak Q2 sales and earnings. The firm now sees FY'11 EPS of $2.45-$2.75 vs. $3-$3.30/share. Shares plummet -10.1% premarket.| Jul. 19, 2011, 8:17 AM