PRI for the week of July 27-31 registers largest increase since March 9 with half of respondents indicating sales growth.
Eric Smith
Senior Editor Eric Smith is an award-winning business journalist whose coverage focus includes economic news and insights, industry trends, M&A, and analysis of small businesses and public companies across the wholesale distribution marketplace. Reach him at eric@mdm.com or 720-207-0335.
Posts By Eric Smith
Fourth quarter sales down 7.5% year-over-year for electronics distribution giant Avnet.
The company also reported a third-quarter loss of $6.7 million, compared with a $31 million profit in the year-ago period.
But industrial distributor also sees headcount continue to decline and the number of “selling personnel” is down nearly 10% compared to the same time last year.
Aaron H. Ravenscroft named president and CEO of crane manufacturer, effective immediately; he replaces Barry L. Pennypacker.
Net income for DXP Enterprises was $2.1 million, compared to $13.4 million in the year-ago period.
The company reported daily sales also up 2.6% versus a year ago based on strength in safety (38% growth).
Distributors leave up to 5% of profit on the table during price negotiations, but an automated system can take human judgment out of the picture and add more dollars to the bottom line.
Year-to-date, the goods and services deficit decreased $23.1 billion, or 7.8%, from the same period in 2019.
Veritiv, whose six-month sales dipped 20.6% year-over-year, saw its “ongoing efficiency programs and the temporary actions … to mitigate the impact of COVID-19 led to improved margins,” says CEO.
NOW Inc., which reported a loss of $30 million for the quarter and a loss of $361 million for the first six months of 2020, is enacting cost-reduction measures.
Amazon's new fulfillment center in Temple Terrace and new delivery station in Lutz will create hundreds of new full-time jobs
With trio of new DCs designed to "meet the changing delivery needs of our DIY and Pro customers," The Home Depot is committing to an additional 1,000 new jobs in Greater Atlanta area.
Jeffrey R. Lavers has been appointed executive vice president, Consumer Business Group, replacing Paul Keel.
Electronics distributor Avnet names Phil Gallagher as interim replacement for outgoing CEO Bill Amelio and also announces preliminary fourth-quarter financial results.
Heating, Air-conditioning & Refrigeration Distributors International’s monthly TRENDS report shows a huge spike in HVAC distributors’ revenue, marking a “solid start for the cooling season,” says HARDI analyst Brian Loftus.
Nationwide Plastics Inc., a division of Curbell Plastics Inc. since its acquisition last August, on Monday announced it has rebranded as Curbell Plastics Arlington.
Buying group AD, however, grew its rebate distributions 1% despite the softness of the market due to the COVID-19 pandemic.
Motion Industries, a subsidiary of Genuine Parts Co., announced Monday it has acquired Canada-based TRC Hydraulics and California-based F&L Industrial Solutions.
Heritage Landscape Supply Group, a subsidiary of SRS Distribution, adds Stone Center’s two locations to its portfolio.
