The Drop in Sales for Barcode Scanner Marker Zebra Technologies in Q1

Feb 22, 2024 - Views: 273

Rating: 4.6 - 50Votes

Manufacturer of barcode scanners Zebra Technologies said last week that Q1 net sales would be less than anticipated, indicating that customers are continuing to clear existing inventory.

In morning trading, the company's shares increased by almost 10%.

Zebra, whose clients include Walgreens Boots Alliance and the US Postal Service, has observed an increase in orders as companies step up their digitization initiatives.

By 2024, distributor inventories will be in line with the state of demand. 

In a statement, CEO Bill Burns stated, "We are not yet seeing signs of a broad market recovery, although we have noticed some improvement in order activity."

Zebra sees smaller-than-expected drop in Q1 sales

Zebra sees smaller-than-expected drop in Q1 sales

The company has increased its initial estimate of $105 million to $130 million for the entire costs associated with its cost-cutting strategies and plans to finish by the middle of 2024.

Based on LSEG statistics, Zebra projects a first-quarter net sales decrease of between 17% and 20% from a year ago, compared to the estimated decline of around 24%.

According to the manufacturer of portable computers, net sales in 2024 should rise by 3% or decrease by 1% from 2023.

Zebra reported net sales of $1.01 billion for the fourth quarter, above the $999.4 million average forecast of analysts.

Read more: Answer Sheet Roll Numbers Will be Replaced by Barcodes

Rating: 4.6 - 50Votes

0 Comments

Filter

Leave a Comment

Your email address will not be published. Required fields are marked *
Submit Comment