The Rising Influence of Rising Affluence

[DewDiligence]

3M Preannounces Strong 2Q10 Sales

[MMM put up stellar numbers in 1Q10, including 54% year-over-year growth in Asia ex Japan (#msg-49567233). According to today’s PR, 2Q10 will be even better with sales 4-6% higher than 1Q10 despite the headwind of a strong dollar.

MMM, which derives almost 60% of its sales outside the US, is one of the premiere beneficiaries of The Global Demographic Tailwind and is one of the world’s greatest technology companies, IMO. The company is holding a 2-hour webcast today at 9:15am ET focusing on the office and consumer segments. ]

http://finance.yahoo.com/news/3M-Reaffirms-Commitment-to-bw-3048246063.html?x=0&.v=1

›3M Reaffirms Commitment to Investing for Long-Term, Sustainable Growth
-- Company Also Comments on Second Quarter Sales Trends --

Monday June 28, 2010, 4:15 pm EDT

ST. PAUL, Minn.--(BUSINESS WIRE)--At an institutional investor and analyst meeting tomorrow at the company’s Cynthiana, Kentucky manufacturing facility, 3M chairman, president and CEO George Buckley will reiterate the company’s commitment to investing in its core businesses to accelerate sales growth. He will cite a number of factors contributing to faster growth including new products and continued strong demand in emerging economies.

Buckley will also report that second quarter 2010 sales are projected to be in the range of $6.6 billion to $6.75 billion, reflecting an estimated 16 to 18 percent growth in organic sales volumes versus the second quarter of 2009. Total-dollar sales are expected to rise between 4 and 6 percent versus first quarter of 2010 [this includes the negative effect of stronger US dollar in 2Q10 vs 2Q09]. 3M will report its complete second quarter results and 2010 full-year outlook on July 22, 2010.

In addition, Joe Harlan, executive vice president of 3M’s Consumer and Office Business, will describe ongoing actions to accelerate sales to 3M’s retail customers around the world, including investments in brand building, new products and international markets. 3M’s Consumer and Office Business is home to a number of coveted, category-defining brands such as Post-it®, Scotch®, Filtrete™ and Scotch-Brite™.

The company will conduct a webcast of this conference tomorrow morning at 9:15 a.m. Eastern Time and ending at approximately 11:00 a.m. Eastern Time. Investors can access the webcast, along with related charts and materials, at http://investor.3M.com.‹