4imprint (asi/197045) says the skies are starting to clear.

The North American promotional products industry’s largest distributor based on 2019 revenue reported on May 18 that “the first four months of 2021 have shown very encouraging progress in the recovery of the business from the effects of the COVID-19 pandemic.”

Kevin Lyons-Tarr, CEO, 4imprint

In April, for instance, order intake was running at more than 80% of levels experienced in the same month of 2019 – the year before the pandemic torpedoed the firm’s business. 4imprint further noted that in a three-week period that includes early May, order counts were averaging 85% of the rate of the same period two years ago.

While the figures mean order intake is still down roughly 15% to 20% compared to the levels seen in the comparative pre-pandemic time, the showing represents improvement over January and February 2021, when orders were down about 35% from the same two months in 2019. It’s also a massive improvement over a point in spring 2020 when, as societal and business shutdowns took hold and events disappeared, 4imprint’s order counts were down more than 80% year over year.

As one of promo’s largest distributors, 4imprint’s performance can potentially bellwether broader trends within the industry.

In a trading statement, 4imprint noted that it has a net cash balance of $44 million at the end of April 2021, up from $39.8 million in December 2020.

4imprint’s Board of Directors said it’s “very pleased with the recent trading performance. Our confidence in the market position and prospects of the (company) has been reinforced; as the economy and business activity continue to recover, we anticipate further progress in the months ahead.”

4imprint’s 2020 global full-year sales declined 35% compared to 2019, falling to $560.04 million. While headquartered in London, U.K., 4imprint has its main operations in Wisconsin and generates most of its business in North America. In 2020, North American sales for 4imprint fell more than 34% year over year – from $839.28 million in 2019 to $549.87 million in 2020.

Overall, North American promotional products distributors’ sales declined, on average, by 19.8% in 2020. The drop would have been even more precipitous had many distributors not pivoted to selling personal protective equipment (PPE), a category that generated billions of dollars in revenue for the promo industry. 4imprint has reported to ASI Media that it did not sell any blank PPE in 2020. The company’s website currently has brandable face masks, hand sanitizers and touchless tools for sale.