Sales at US wholesaler S.P. Richards saw a slight drop in the second corner following a reduction in white collar employment.
Parent company Genuine Parts reported that its office products division registered sales of $401.960 for the second quarter ended June 30, 2010, down from $406,134 for the same period in 2009.
Thomas C. Gallagher, Chairman, President and Chief Executive Officer said: “S.P. Richards, our Office Products Group, ended the quarter down 1%. This is in line with overall office products industry trends and it is reflective of the reduction in office employment over the past two years."
S.P. Richards reported a fall in operating profit from $33,661 to $30,454 during the quarter.