Xerox: Past Customer Inventory Levels Not Coming Back

Xerox Corp. (XRX) Chief Executive Anne Mulcahy said that customers have cut the amount of supplies they hold in inventory and won't be returning to those levels.

"We're not counting on a return to the past in any way," Mulcahy said in a conference call to discuss first-quarter earnings. "People are going to manage with less for some time to come."

On Friday, Xerox cut its full-year earnings target.

Mulcahy said that developing markets, especially Russia and Eurasia, had hurt business as customers are unable to access credit. However, she added that Xerox's leasing business in the U.S. and Western Europe "plays well in touch economic times," adding that it hasn't moved to offer aggressive financing strategies such as no-interest leases.

Read Full Article from Wall Street Journal

- Posted: 2009-04-24 10:45:57

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