Progress on Cost Reduction Program
ACCO Brands made excellent progress on their $100 million multiyear cost reduction program, realizing additional savings in the second quarter that brought the cumulative program total to over $40 million.
Strategic Price Increases and Tariff Mitigation
The company announced two strategic price increases, secured improved terms with third-party manufacturing partners, and accelerated production shifts to cost-competitive countries to navigate the evolving trade landscape.
Growth in Gaming Accessories
PowerA delivered modest growth, driven by their role as a Nintendo licensed third-party manufacturer for the Switch 2 console, with expectations of more meaningful sales in the coming quarters.
Launch of New Products
ACCO enhanced its innovation pipeline with new product introductions set to double in 2025 compared to 2024, including the Thunderbolt 5 docking station and expansions in ergonomic and work lights categories.
Successful Resolution of Brazilian Tax Assessments
The company resolved long-standing tax assessments in Brazil for $7 million, reducing a $20 million reserve.