Question · Q2 2025
Georgy Vashchenko asked for clarification on which business segment, first aid or cutting & sharpening tools, was most negatively affected by the recent tariff increases.
Answer
Chairman & CEO Walter Johnsen stated that the Westcott cutting tool segment was hit more significantly. He attributed this to the seasonal nature of the business, particularly back-to-school, where entire programs were canceled by customers in April and May due to the high tariffs. In contrast, the first aid business has more consistent ordering and a larger North American manufacturing base, which allowed for more moderate price adjustments.
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