Paperworld pivot to 
stationery museum?

Extinct ehibition or shifting to

craft, creative, gifts & Xmas?

Iron Mountain
peaking on price?

Deluded ceo distracts from
slow volumes w acquisitions

Iron Mountain ex-leader in document storage services reported strong Q4'25 results. CEO Bill Meaney's minimalistic, but hyped up report "We are pleased to report another record performance". An acquisition disguised volume slowdown? Report analysis here, first...

Sylvamo s i n k s
in serious tailspin?

New CEO distracts priorities
with hollow consultant speak

Papermaker Sylvamo's new CEO John Sims (18yr IP veteran) commented  "we will be Iegendary in relentless pursuit of world-class excellence". WOW! Meanwhile, sales volume demand is in freefall decelerating at a faster rate? Full report analysis here, first 

Newell Brands'
house collapse?

Is Writing on the Wall?
Maxing margins in decline

Newell Brands (inc.Rubbermaid) the $7Bn house of business & consumer brands' sales volume fell again in Q4'25 (down -50%+ v 2019 norm). Complacent CEO Chris Peterson commented  "we exited 2025 a stronger, more resilient company". Really? Can he create a growth strategy v the usual cost cutting projects? Full report analysis here, first...

UPM printer paper
deliveries plunge

CEO downsizing operations

with complacent comments

UPM Kymmene the world’s #3 papermaker, reported plunging printer paper volumes again and lower prices in Q4'25. CEO Massimio Reynaudo commented complacently again "Consumer demand stayed subdued and uncertainty remains".  Full report anaysis here first

Energizer's dead 
battery d e c l i n e

Declining volume, offset by
higher pricing yields losses

Energizer the battery and auto-care supplier to businesses, continued to lose market share in Q1'26 after a strong growth during the Covid WFH/Hybrid era. CEO Mark Livigne comments seem hollow "simple principles – restore growth, rebuild margins? Yet another decline? Report analysis here, first

Canada groups'
defensive move 

What's Novexco's plan to
beat Amazon w services?

Novexco the leading Canadian OP dealer group has doubled its membership with the consolidation of 2 other groups. We know size matters, but in today's business supply market dominated by Amazon it will be interesting to learn how ceo Denis Mathieu's plans to help his 140 members compete by providing 'customer productivity services' that differentiate from the giant. Full story here, first...

Xerox still fiddling
while home burns?

Sales down -63% in 10 years
Can Lexmark stop bleeding?

Xerox Corp sales continued in freefall in Q4'25. With RTO stalled and the hybrid 'officeless & paperless' trend accelerating prospects look dim. Efforts to turnaround the tailspinning old tech giant, even with the Lexmark $2.2Bn acquisition last July feels like a massive prolonged Kodak moment!? Full analysis here, first 

VOW's 'holesale
vulture exchange 

Aurelius' asset strip starts.
Expect EVO to drive direct?

As PP forecast over the past 2yrs, Exertis the IT/OP wholesaler has struggled with poor supplier relations and customer service, with closure or fire sale the inevitable option. It's happened with the disposal by new vulture owner Aurelius to vulture backed EVO under its VOW wholesale aegis. We fear this is another nail in the coffin for OP resellers who have not invested in their own warehouse space? Full story here, first...

EVO fiddles while
H o m e  b u r n s?

Self proclaimed 'knowhow'
at VOW feels very hollow

EVO Group the management owned OP distributor (inc. VOW, Banner, Staples UK, Complete) published poor financial performance for 2024. After 16yrs of decline: core sales halved, tiny profits, poor service levels and range development; the BIG persistent question is: how long will new 'vulture' lenders tolerate poor performance from ceoAndrew Gale's team? Full analysis here, first...