HD Supply, Atlanta, GA, has launched its two new proprietary brands, Seasons and Brigade. The Seasons brand will be carried on products such as kitchen and bath fixtures and ceiling fans, ultimately used by consumers, while Brigade will be carried on heavy duty products, such as tools and hardware, ultimately used by professional contractors and trades people on the job.
Seasons branded products are positioned in the better” quality tier; products with elevated features and functionality in the “best” quality tier carry the Seasons Gold brand.
Brigade is used with better quality professional-grade products, and Brigade 5-Star is reserved for best quality products. Currently, Seasons and Brigade branded products are primarily being sold through HD Supply’s …
Huttig Building Products, Inc., distributor of millwork, building materials and wood products, reported a net loss of $9.8 million for the first quarter 2008, compared with a net loss of $3.4 million in the year-ago period.
Sales fell 25% to $166.8 million.
While seasonally one of our slowest quarters, the 2008 first quarter was also significantly impacted by the 29% year-over-year decline in annualized housing starts,” said Jon Vrabely, president and CEO.
“Given this challenge, we continue to pursue all avenues aimed at controlling expenses, improving operating efficiencies, reducing inventories and generating cash. Although we incurred an operating loss in the quarter, our year-over-year sales decreased less than the overall decline in housing starts, …
A slew of economic indicators out this month don’t portend well for the U.S. economy. Many economists are uttering the R” word, but it is noteworthy that many are preceding it with “mild.”
An overview: While industrial production increased this month, for the quarter it fell slightly. Housing starts plummeted nearly 12% in March, and 37% from last year at this time. The Institute for Supply Management’s monthly purchasing managers’ report on manufacturing continues to indicate contraction in the sector. Oil prices continue to skyrocket, and prices at the pump are following suit. (Take this brief survey on the impact fuel costs are having on your business by clicking …
Privately-owned housing starts in March were at a seasonally adjusted annual rate of 947,000. This is 11.9% below the revised February estimate and 36.5% below the March 2007 rate, according to the U.S. Census Bureau and the Department of Housing and Urban Development.
Single-family housing starts in March were at a rate of 680,000; this is 5.7 percent below the February figure of 721,000. The March rate for units in buildings with five units or more was 247,000.
Illinois Tool Works Inc., Glenview, IL, reported 11.4% growth to $4.139 billion in the first quarter 2008. The increase was due to a 6.3% contribution from acquisitions and a 4.8% contribution from currency translation.
Organic growth was 0.4%, with international base revenues growing 4.6% and North American revenues falling 2.5%.
Overall profit of $303.6 million was down 24.6% from the year-ago period.
We are very pleased with our operating performance in the 2008 first quarter, especially in light of difficult end market conditions in North America and the modest slowing but still positive growth in international end markets,” said David B. Speer, CEO. “We believe end markets will continue to be challenging in North America over the foreseeable …
Sales of goods manufactured rose 1.6% to $50.1 billion in February, due in part to a gradual bounce-back by Canada’s motor vehicle industry.
This marked the second successive increase in manufacturing sales, as manufacturers continued to make up ground lost after a tough December (-3.7%).
The volume of goods manufactured also improved in February. At 2002 prices, manufacturing sales rose 2.7% to $49.0 billion, following a 2.2% increase in January. Again, contributing to the boost in volumes produced were several automotive manufacturers who continued to ramp up production during the month.
Despite the consecutive increases, manufacturing sales were …
The chief economist for the National Association of Home Builders says the deepening slump in the U.S. housing markets has seriously eroded consumer sentiment” and pushed the economy into a mild recession.
“The worse-than-anticipated housing downturn, combined with systematic weakening of the labor market and rapidly rising energy and food prices, has taken a heavy toll on American consumers,”said NAHB’s David Seiders. “It’s now clear that we have entered what we anticipate will be a mild recession, running through the first half of this year, and there are substantial downside risks to this economic scenario.”
Given the ongoing erosion in housing finance markets and buyer demand, Seiders has adjusted NAHB’s official housing forecast to indicate continuing …
Swagelok Company, Solon, OH, has acquired Coreflex LLC, Bowie, MD, a manufacturer of hose products used mostly in semiconductor, biopharmaceutical, and other applications.
The Coreflex product line broadens the Swagelok Company’s portfolio of hose products.
Swagelok is a developer and provider of fluid system solutions, including products, assemblies, and services for the research, instrumentation, pharmaceutical, oil and gas, power, petrochemical, alternative fuels, and semiconductor industries. Its manufacturing, research, technical support, and distribution facilities support a global network of more than 200 authorized sales and service centers in 57 …
SKF sales for the first quarter 2008 were up 8.5% in SEK, with 4.9% attributable to volume, 1% to structure, 3.8% to price and mix, and -1.2% to currency effects.
In the first quarter, sales in Europe were higher, in North America they were relatively unchanged and in both Asia and Latin America they were significantly higher.
For the Industrial Division and the Service Division sales in the first quarter were significantly higher and for the Automotive Division they were slightly higher.
The manufacturing level for the first quarter of 2008 was relatively unchanged compared to the fourth quarter 2007 and higher compared to the first quarter last year.
Industrial production rose 0.3 percent in March after having dropped 0.7 percent in February. For the first quarter as a whole, output declined at an annual rate of 0.1 percent after edging up at a rate of 0.4 percent in the fourth quarter of last year.
Manufacturing production rose 0.1 percent in March. Factory output was held down by a large decline in the output of motor vehicles and parts; a shortage of motor vehicle parts that resulted from a strike at a parts manufacturer idled a number of motor vehicle assembly plants.
Outside of motor vehicles and parts, manufacturing production moved up 0.4 percent after having fallen 0.5 percent in February. In March, the output of mines increased 0.9 percent, and the output of utilities advanced 1.9 …
Atlanta, GA-based Industrial Distribution Group’s board of directors announced it was prepared to accept WESCO Distribution Inc.’s offer of $11.75 per share, or $130 million, and withdraw its recommendation of the pending acquisition by Platinum Equity. WESCO was the previously unnamed bidder in the war for the industrial distributor, which had $537 million in sales last year.
If the WESCO deal goes through, under the Platinum merger agreement, IDG would have to pay a 3% break-up fee. WESCO has agreed to reimburse the company for that fee.
WESCO Chief Financial and Administrative Officer Stephen Van Oss said IDG was a good fit for the company. Like IDG, WESCO also has a substantial integrated supply business.
WESCO’s last-minute catch of Industrial Distribution Group is a good fit with its Bruckner Supply business, focused on integrated supply, together with its strong electrical distribution business into industrial accounts. It’s also a good fit from a broader perspective in terms of where WESCO is positioned with international competitors in North American markets.
Most industry observers look at IDG’s checkered ten-year history as a public company, specifically its sluggish earnings reports, and see an …
Revenues of wholesaler-distributors grew by 8.6% in 2007, marking another year of strong overall performance, according to Pembroke Consulting’s The 2008 Wholesale Distribution Economic Factbook,” the third edition of its comprehensive market data reference guide to the $4.2 trillion U.S. wholesale distribution industry.
The new report contains detailed economic statistics on the 112 distinct sub-sectors within the wholesale distribution industry.
“The performance of individual sub-sectors varied more than in previous years,” said Pembroke President Adam J. Fein, the study’s author. “The ongoing surge in commodity prices continues to ripple through wholesale distribution. Some sectors actually shrank in 2007 after revenues are adjusted for price …
Wholesale prices increased 1.1% in March, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported. This advance followed a 0.3% rise in February and a 1.0% increase in January. The rise in the index for finished goods less foods and energy (core inflation) slowed to 0.2% from 0.5% in February.
For the 12 months ended March 2008, wholesale prices rose 6.9%. Over the same period, the index for finished energy goods increased 20.4%, prices for finished consumer foods moved up 5.8%, and the index for finished goods less foods and energy advanced 2.7%. For the 12 months ended in March, prices received by manufacturers of intermediate goods rose 10.5%, and the crude goods index advanced 31.4%.
Looking to reinforce its position in emerging countries, French manufacturer Legrand has acquired Estap, manufacturer of VDI enclosures and cabinets in Turkey,
The move underscores Legrand’s accelerating expansion on emerging markets, which accounted for 50% of its organic growth in 2007.
Deriving close to 60% of sales from exports, in particular to Eastern Europe and the Middle East, Estap also consolidates Legrand’s positions on these markets.
In addition, this acquisition enables Legrand to continue expansion in VDI systems for commercial applications, a market where Legrand’s sales showed a double-digit rise in 2007. In this area, Legrand says Estap brings it a new production base that will allow it to accelerate the development of its …
PrimeSource Building Products Inc., Carrollton, TX, will buy Miami, FL-based Coast to Coast Building Products Inc., according to the Dallas Business Journal.
The acquisition expands PrimeSource’s network into the Southeast as well as the Caribbean and Central America. Coast to Coast has 75 employees and serves Florida, Georgia, North and South Carolina and Alabama in the U.S.
In February, PrimeSource reported it purchased 3-G’s Supply, Strongsville, OH, marking PrimeSource’s entry into the Cleveland, OH, regional market.
With 35 distribution centers throughout the U.S. and Canada, PrimeSource is a distributor of building materials serving residential and industrial new-construction and remodeling …
February U.S. manufacturing technology consumption totaled $308.50 million, according to the Association For Manufacturing Technology and the American Machine Tool Distributors’Association. This total, as reported by companies participating in the USMTC program, was down 4% from January, but up 4.4% from the total of $295.39 million reported for February 2007. With a year-to-date total of $624.28 million, 2008 is up 1.2% compared with 2007.
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.
Industry forecasters called for a first-half downturn in manufacturing technology orders,”said John B. Byrd III, AMT president. “The economic stimulus package has kept orders from falling in …
Diversified industrial manufacturer Eaton Corp., Cleveland, OH, reported sales for the first quarter 2008 were $3.5 billion, 12% above the same period in 2007. Profit was $247 million.
Sales growth was the results of 2% organic growth, 6% from acquisitions and 4% from higher exchange rates. End markets for Eaton grew 2%.
Eaton reported it anticipated growth of 4% in its end markets in 2008, with international markets modestly stronger” than expectations in January and U.S. markets “slightly weaker.”
Sales for the Electrical segment were $1.3 billion, up 20% over 2007. This includes 11% growth from acquisitions. Eaton reported end markets in electrical grew 7% in both U.S. and non-U.S. markets.
Chicago, IL-based facilities maintenance distributor Grainger has started meeting with the U.S. Department of Justice to discuss alleged contract and Trade Agreement non-compliance claims.
Grainger is accused of overcharging the U.S. government as well as illegally relabeling products manufactured in non-trade agreement countries so they could be sold to the U.S. government, a violation of the Trade Agreements Act.
In a press release, Grainger said the timing and outcome of this matter are uncertain and could include a settlement or civil litigation, and while this matter is not expected to have a material adverse effect on Grainger’s financial position, an unfavorable resolution could result in material payments by Grainger.” Grainger said the contract with the …
Chicago, IL-based Grainger reported sales of $1.7 billion for the quarter ended March 31, 2008, up 7% from the prior-year first quarter. Profit for the quarter was up 12% to $114 million.
We are off to a strong start,” said CEO Richard L. Keyser. “We are encouraged by the market share gains achieved in a slowing economy.”
Daily sales increased 8% in January, 7% in February and 7% in March. For the quarter, sales were positively affected by foreign exchange, which contributed 1percentage point. Sales were negatively affected by 1percentage point due to the timing of Easter.
Grainger Branch-based segment Sales in this segment, which includes branch-based businesses in the U.S., Mexico and China, increased 6% in the 2008 first quarter. Daily …
By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.
