In a trading update released on October 31, 4Imprint announced that encouraging progress has been made despite continous disruptive efforts as a result of the pandemic. They stated that its average weekly order intake ran at 60% of the prior year level's' over the last 4 weeks. Despite the order intake still being down 40% when compared to last year, 4Imprint views it as an improvement over August where the run rate was only 50% of that in 2019 and 20% in April.
Also detailed in their trading update, "The apparel category has performed well compared to other categories during the pandemic". As a result their main operations at Oshkosh Distribution Centre is currently running at 100% permanent labour capacity utilisation.
Also detailed in their trading update, "The apparel category has performed well compared to other categories during the pandemic". As a result their main operations at Oshkosh Distribution Centre is currently running at 100% permanent labour capacity utilisation.
The firm maintains that they will "continue to aquire new customers at a relatively promising rate, with new-to-existing customers running a stable band." Their customer activity has been driven by a careful re-allocation of marketing funds towards their brand marketing programme.
Additionally, the company is taking every step to manage the effects of the pandemic on their operations with the appropriate social distancing protocols being observed in all their facilities. They also still have team members working from home.
Ultimately, there is still inherent uncertainty as a result of Covid-19. However, 4Imprint remains in a strong financial position with a cash balance of $40.1million at the end of the October accounting month with no debt. They are also confident in their ability to deliver sustainable value for all stakeholders.
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