Net sales in the quarter were $1.65 billion, up $13.4 million or 0.8% from the second quarter of 2016. On an organic basis, consolidated net sales declined 0.8% driven by volume growth in the International and Strategic Services segments and favorable changes in fuel surcharges which were more than offset by lower postage pass through sales in the Strategic Services segment, net volume declines in the Variable Print segment and modest price erosion across all segments. Gross profit in the second quarter of 2017 was $303.1 million or 18.4% of net sales versus $316.4 million or 19.4% of net sales in the prior year quarter. The decline was primarily due to unfavorable mix in several businesses, modest price pressure in all segments and unfavorable changes in foreign exchange rates. Click Read More below for additional details.
“We’re excited to share we’ve announced to our Chicago employees, we are seeking a new location for our facility as we recognize the importance of the marketplace and region as a major direct mail center. While we explore our options, we are looking forward to our continued presence and commitment to our vendors, employees, and loyal customers,” Mark Greenberg, President of Cenveo’s Envelope Group