4imprint (PPAI 107200, Platinum), PPAI 100’s No. 1 distributor, has maintained modest revenue growth despite fewer orders in 2026, according to its just released half-year results.

  • Revenue increased 1% to $666.4 million, driven primarily by higher average order values rather than order growth.
  • Total orders declined 1% to 1.04 million, compared with 1.054 million during the first half of 2025.


While existing customer orders remained stable at 838,000, new customer orders declined 7% to 202,000. However, the trend improved from a 9% decline in the first quarter to a 5% decline in the second quarter.

  • Average order value increased 3%, primarily because of carefully considered price adjustments.
  • The higher average order value more than offset the decline in order count and supported the 1% revenue increase.
The board remains confident in [4imprint’s] strategy, competitive position and long-term growth opportunity.”

Paul Forman

Chairman, 4imprint Group

The gross margin declined from 32.8% to 31.5%, as customer price adjustments only partially offset higher supplier costs associated with tariffs. Furthermore, 4imprint highlighted collaboration with its major suppliers as an important factor in controlling tariff-related product costs and protecting gross margin.

  • Adjusted operating profit declined 12% to $62.5 million, while adjusted operating margin fell from 10.7% to 9.4%.
  • Reported profit before tax declined 19% to $59.6 million.


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“The board is encouraged by the Group’s first half performance, in particular, the improvement in new customer orders through the period and the effective management of gross profit margin pressure resulting from tariff-related cost increases realized in the period,” said Paul Forman, chairman of 4imprint Group.

Signal For The Industry

4imprint’s half-year results are consistent with PPAI’s Mid-Year Trends & Outlook findings, which identified modest growth, cautious demand conditions and ongoing tariff-related concerns across the branded merchandise industry.

While 4imprint shouldn’t be viewed as a proxy for the entire market, the company’s performance provides an important real-world signal supporting those broader industry trends.

In that case, it’s encouraging for all merch professionals that 4imprint management raised its full-year expectations, now projecting 2026 revenue to be slightly above the $1.35 billion recorded in 2025, with adjusted profit before tax of approximately $130 million.

“In my first few months as chairman, I’ve been impressed by the quality of the business and management team,” Forman said. “The resilience and cash-generative nature of the business model is evident, and the board remains confident in the Group’s strategy, competitive position and long-term growth opportunity.”