Dymo's parent having a hard time in Europe

Newell Rubbermaid, owner of the Dymo brand, has said macro-economic conditions in Europe have hit sales at its Fine Writing business unit with EMEA region sales down more than 20% in Q2.

Speaking during Friday's quarterly conference call, CEO Mike Polk said that sales were worst at traditional stationery stores which make up roughly 40% of Newell's Fine Writing sales in Europe. However, high-end products were selling well.

Sales in Asia and North America made up for the fall in Europe, partly due to the launch of the new InkJoy brand.