Counselor Top 40 firm 4imprint (asi/197045) reported on March 12 that its full-year 2024 North American sales increased 3% compared to 2023, reaching $1,342.7 billion – a sum that may, when final results of other distributorships are fully assessed, be an all-new single-company record for a promotional products distributor.

While 4imprint’s earnings and total company sales – which include North America and the United Kingdom/Ireland – also both rose on an annual basis in 2024, the publicly traded company noted that it was experiencing some headwinds in early 2025.

To wit, 4imprint Chairman Paul Moody said revenue at the order intake level was down slightly during the first two months of the year compared to the same time period in 2025. He noted that unstable market conditions, influenced possibly by potential fallout from trade war and tariff impacts, could hurt demand in 2025. Still, Moody said 4imprint was optimistic.

“From our experience,” Moody stated, “as business sentiment improves, demand for promotional products increases as does our ability to gain market share. Despite a challenging near-term environment, our view of the prospects of the business remains unchanged. The board is confident in [4imprint’s] strategy, competitive position and growth opportunity.”

Nonetheless, 4imprint’s stock was trading down about 14% March 12 in the wake of Moody’s comments on revenue being down. 4imprint’s “management have great experience of navigating more challenging periods, and we fully expect them to be good stewards of the business for the longer term,” Barclays said in a note. “FY24 FCF yield of 6.2% is attractive, but near term de-rating likely.” Put another, Barclays expects 4imprint's stock price to lose value, at least in the short term.

2024 Performance

Operating a direct-to-buyer ecommerce model, 4imprint is headquartered in London, U.K. but has its main operational footprint in Oshkosh, WI. The firm generates the majority of its business in North America. Total company sales across all its geographic markets – North America and U.K./Ireland -- rose 3% on an annual basis in 2024 to $1,367.9 billion.

The bottom line improved, too. Operating profit jumped 9% to $148.1 million, while profit before tax topped up 10% year over year to $154.4 million. In 2024, net income – after-tax profit – improved more than 10% over 2023’s total, reaching $117.2 million. Earnings per share leapt 10% to about $4.16. Broken down geographically, sales and operating profit in North America and Ireland/United Kingdom (U.K./Ireland sales were $25.2 million) were both up.

4imprint “delivered a strong financial performance in 2024, continuing to outperform the promotional products market as a whole and thereby taking further market share,” Moody asserted.

“Despite a challenging near-term environment, our view of the prospects of the business remains unchanged. The board is confident in [4imprint’s] strategy, competitive position and growth opportunity.” Paul Moody, 4imprint (asi/197045)

The Distributor Quarterly Sales Survey from ASI Research showed that North American promo distributors increased total industry sales by 1.8% year over year, to $26.6 billion, in 2024. The annual sales figure was a new industry record, ASI Research showed. 4imprint’s 3% year over year sales growth outpaced the industry average growth rate, as well as the average 1.7% increase executed by extra-large distributorships – those generating more than $5 million in revenue annually.

4imprint reported that its average order values in 2024 were 2% higher than in 2023. The firm also increased the total number of orders it processed by 2% year over year to 2,124,000. Orders from existing customers, which totaled 1,644,000 of the overall tally, rose 5% in 2024. Still, orders from new customers declined 9% on an annual basis amid what 4imprint characterized as a “cautious macroeconomic environment.”

2,124,000
Total number of orders 4imprint (asi/197045) says it processed in 2024, a 2% year-over-year increase.

“The relative slowdown in new customer acquisition correlates with the softening market conditions and industry demand patterns,” 4imprint stated in its financial report.

4imprint also pointed to certain operational highlights from 2024. For instance, the firm completed a 170,000-square-foot expansion of its flagship facility in Oshkosh – progress that included adding 1,488 solar panels, which increased solar capacity by 56%. The facility now totals 470,000 square feet. The expanded space will “support the anticipated growth in the apparel category of our product range for the next several years,” 4imprint said.

4imprint also made key personnel moves. Those included tapping Michelle Brukwicki, a telecommunications industry executive, to become the company’s new chief financial officer. Brukwicki is replacing longtime CFO David Seekings, who is retiring this year, likely no later than the end of May.

In addition to expanding the solar array in Oshkosh, 4imprint said it made other progress on sustainability initiatives in 2024. Those include what the firm described as more precise and extensive measurement of its carbon footprint, using more recycled and sustainable materials for its inhouse brands and expanding its “Better Choices” product designation program.

Based on reported 2023 North American promotional products revenue of $1,302.6 billion, 4imprint ranked first on Counselor’s most recent list of the largest distributors in the industry.