Logitech’s quarterly sales down 12%, CFO to depart

Oct 25 (Reuters) – Logitech International (LOGN.S) reported a big drop in quarterly sales and profit on Tuesday, as the computer peripherals maker was hit by tough comparisons, a strong dollar and fragile consumer confidence as economies slow down around the world.

The maker of keyboards, mice and headsets posted a 12% decline in sales at $1.15 billion in the three months ended Sept. 30. In constant currencies, which removes the impact of exchange rate swings, sales was down 7%.

Logitech also said its chief financial officer, Nate Olmstead, will be leaving the company. Olmstead will stay on in his role as Logitech launches a search for his successor.

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Non-GAAP operating income plunged 26% to $156 million in the period, the second quarter of Logitech’s financial year.

The Swiss-American company is facing a slowdown from last year, when COVID-19 restrictions drove

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