4imprint (asi/197045), the largest distributor by revenue in the North American promotional products industry, says sales have continued to improve following a COVID-induced plummet in the spring.

Caption: Kevin Lyons-Tarr, CEO, 4imprint

In a trading update issued Friday, Oct. 30, the London, U.K.-headquartered firm, which has its main operations in Oshkosh, WI, stated that its average weekly order intake ran at 60% of the prior year level’s over the previous four weeks.

While that means that order intake is still down about 40% compared to the same period the prior year, the rate is an improvement over August, when the run rate was about 50% of 2019’s number, and April, when the intake rate was less than 20% of 2019 – which translates to down 80% year-on-year.

Notably, 4imprint said, average order values also improved in October, hitting levels that are higher than historical comparatives. This translated to average weekly revenue for last month registering in at about 65% of 2019’s levels.

“The apparel category has performed well compared to other categories during the pandemic,” 4imprint detailed in its trading update. “Decorated apparel unit volume at the Oshkosh Distribution Centre is now running at close to prior-year level and, as a result, the utilization of permanent labor capacity has now returned to 100%.”

The Top 40 firm maintains that it’s acquiring “new customers at a relatively promising rate, with the new-to-existing customer ratio running in a stable band. This customer activity has been driven by a careful and precise re-introduction and re-allocation of marketing funds, particularly toward our brand marketing program.”

4imprint noted that its cash balance stood at $40.1 million at the end of October 2020. The company was carrying no debt. How will the rest of 2020 and 2021 play out for promo’s biggest distributor? There’s too much uncertainty to say.

“Although we have seen encouraging signs in recent weeks,” the trading update read, “the inherent uncertainty resulting from the COVID-19 situation means that it is too early to provide any forward guidance at this point.”

The potential reintroduction of societal shutdown measures in the U.S., such as is being seen currently in parts of Europe, including England, could have a chilling effect on sales for 4imprint – and promo as a whole.

In 2019, 4imprint’s worldwide sales were $860.84 million, a nearly 17% rise over 2018. Of that, $839.3 million in revenue was generated in North America, with the remainder coming from the U.K./Ireland market. 4imprint ranked first on Counselor’s most recent list of the largest distributors in the industry.