© Stocksak. FILEPHOTO: Logitech mice can be seen in the Zenica, Bosnia & Herzegovina computer shop on October 20, 2020. REUTERS/Dado Ruvic
(Stocksak) – Logitech International (NASDAQ:) International reported a large drop in quarterly sales. This was due to tough comparisons, a strong US dollar, and fragile consumer confidence as global economies slow down.
The sales of headsets, keyboards and mice fell by 12% to $1.15 Billion in the three months ended September 30. Sales fell 7% in constant currencies (which removes the effects of exchange rate swings).
Logitech also stated that Nate Olmstead, its chief financial officer will be leaving the company.