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Avery Dennison Corporation is a global materials science and digital identification solutions company that provides a wide range of branding and information solutions. The company operates through two primary business segments: the Materials Group and the Solutions Group. Avery Dennison sells pressure-sensitive label materials, films, performance tapes, fasteners, RFID inlays and tags, software applications, and branded packaging solutions, focusing on optimizing labor and supply chain efficiency, reducing waste, advancing sustainability, and better connecting brands and consumers through innovative solutions that integrate physical and digital elements .
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Materials Group - Focuses on pressure-sensitive label materials, films, performance tapes, and fasteners, and includes high-value categories such as graphic solutions and reflective solutions. This segment is a leader in the industry, being 2.5 times larger than its nearest competitor in label materials .
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Solutions Group - Offers RFID inlays and tags, software applications, and branded packaging solutions, with a strong emphasis on the Intelligent Labels business that uses RFID technology to enhance inventory accuracy and supply chain efficiency, particularly in the apparel, logistics, and food industries .
- Given the recent softness in logistics impacting your Intelligent Labels growth, what strategies are you implementing to mitigate this slowdown and ensure consistent growth within the segment?
- With the drugstore channel softness and a major customer emerging from bankruptcy, how do you plan to address potential long-term structural changes in this channel and diversify Vestcom's client base?
- As you embark on the significant rollout with Kroger in the food segment, how are you managing the operational and execution risks associated with scaling up RFID technology across 2,800 stores, and how confident are you in achieving your growth targets in this new market?
- Given that Europe's materials volume was slightly below expectations and you experienced higher paper prices, how do you plan to navigate cost pressures and demand softness in Europe, and are any strategic adjustments needed for 2025?
- While you've raised your earnings guidance for the year, you mention that the environment remains uncertain; what specific uncertainties are you most concerned about that could impact your ability to deliver on growth and earnings targets, particularly in the Solutions Group?
Competitors mentioned in the company's latest 10K filing.
- Checkpoint Systems, Inc., a subsidiary of CCL Industries Inc.; R-pac International Corporation; and SML Group Limited - Competitors in the Solutions Group, particularly in RFID solutions .
- UPM Raflatac, a subsidiary of UPM Corporation; Fedrigoni Self-Adhesives; Lintec Corporation; Flexcon Corporation, Inc. - Competitors in label materials .
- 3M Company and the Orafol Group - Competitors in graphics and reflective products .
- 3M; Tesa-SE, a subsidiary of Beiersdorf AG; Nitto Denko Corporation - Competitors in performance tapes products .
Recent developments and announcements about AVY.
Corporate Leadership
Board Change
Danny G. Allouche has been elected as the company's Senior Vice President and Interim Chief Financial Officer, effective November 15, 2024. He will retain his current role as Chief Strategy and Corporate Development Officer in addition to his new responsibilities .
CFO Change
Gregory S. Lovins, the Senior Vice President and Chief Financial Officer of Avery Dennison Corporation, began a medical leave of absence on November 14, 2024, and ceased serving as the company's principal financial officer as of that date. Danny G. Allouche has been elected as the Interim Chief Financial Officer, effective November 15, 2024 .
Leadership Change
Ken C. Hicks is leaving Avery Dennison Corporation to focus on his new role as President and Chief Executive Officer at PetSmart LLC. His resignation was effective immediately and was not due to any disagreement with the company .
Board Change
Ken C. Hicks, a 17-year member of the Board of Directors of Avery Dennison Corporation, resigned from the board effective immediately on November 7, 2024, to focus on his new role as President and CEO at PetSmart LLC. His resignation was not due to any disagreement with the company .