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1 March 2023
Vistaprint Profit and Sales Down
WINDSOR , ONTARIO—
Cimpress, the printing company that owns VistaPrint and related businesses, have reported disappointing results in its second-quarter earnings report. Revenue fell 1% to $845.2 million, missing estimates. The company said the results were mixed, acknowledging currency headwinds and inflation in raw materials, energy, and labor. Vista, its biggest segment, which makes up roughly half of its revenue, was the worst performer with a 2% decline in reported revenue and a 13%
decline in gross profit, showing the impact of higher costs and an unfavorable shift in product mix.Cimpress didn't offer specific guidance for the current quarter or the rest of the fiscal year but did say that organic revenue growth had accelerated in January. It also said it planned to take steps to reduce its cost base to improve profitability. And it is targeting a return to its prior fiscal-year high of $400 million in adjusted EBITDA by fiscal 2024.
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