6 May 2020
Vistaprint's Parent Company, Takes 65% Sales Hit
WINDSOR , ONTARIO—
Vistaprint's plant in Windsor Ontario
Vistaprint's plant in Windsor Ontario
 Cimpress , parent of Vistprint has sales crashed by 65% at the end of March as the effects of the Covid-19 pandemic hit their  small business customers around the world. Sales in March were down 30%, with orders collapsing by about 65% in the last week of March and first week of April. Cimpress stated that by the third week of April the rate of decline had reduced to 40% .
Canada's second largest printer
Canada's second largest printer
Cimpress results for the first quarter up to 31 March show sales down 10% at $598m and an operating loss of $88m. Cimpress has taken several measures to preserve cash and reduce its fixed costs by the equivalent of $140m a year, including redundancies, restrictions on new hires, travel and training. They have negotiated  delays of more than $20m of payments  due before June to its suppliers and landlords.
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