MSC reports gross margin of 46.8 percent for the quarter.
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Latest In MSC Industrial Supply Co.
MDM Associate Editor Jenel Stelton-Holtmeier recently spoke with MSC Industrial Supply President & CEO David Sandler and COO Erik Gershwind about trends in the industry, MSC’s recently announced succession plan, company culture, and plans for expansion. MSC Industrial Supply had $1.69 billion in sales in fiscal 2010.
MDM: Economic recovery finally seems to be gaining a real foothold in the U.S. How did MSC manage through the recession?
David Sandler: The last couple of years really provided one of the best opportunities to position MSC for long-term growth …
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CEO: U.S. still has ‘tremendous growth opportunity’ for the MRO distributor.
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43,000 personal and facility safety-related products are in MSC’s 2011 catalog.
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Manufacturing sales helped offset slower government sales, MSC reports.
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Manufacturing production and new orders continued to expand in November, according to the latest Purchasing Managers Index, signs that the recovery is underway. But not every distributor has been able to take advantage of increased demand, says Erik Gershwind, COO of industrial distributor MSC Industrial Direct, Melville, NY. Gershwind recently presented at the Robert W. Baird Industrial Conference.
The cuts many “mom-and-pop” local and regional distributors have had to make put them in a precarious situation now that demand in increasing, Gershwind says. “They face severe pressure on working capital in the form of inventory and receivables,” he says. “So many …
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Lawson Products says Rutland sale is in line with plan to focus on MRO business.
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Erik Gershwind, COO, is slated to take top role in a couple of years.
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Fourth-quarter sales were up 30.3% for MSC.
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New metalworking and MRO product catalog will be available Sept. 1.
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MSC reports ‘cautious restocking’ by customers.
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Reid Supply Company talks to Jack Keough about return it’s seen on its new Web site.
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MRO supplies distributor MSC says overall growth driven by large accounts.
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The MRO supplies distributor says ‘share-gain opportunities’ are more compelling now than in the recession.
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CEO Sandler: MSC ‘continues to operate in challenging environment with limited visibility.’
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MSC’s fourth-quarter sales declined 21.1%; distributor maintains profitability.
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Industrial distributor also names new COO.
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MSC Industrial Direct Co., Inc., Melville, NY, a distributor of metalworking and maintenance, repair and operations supplies to industrial customers throughout the U.S., reported sales of $350.5 million for the third quarter ended May 30, 2009, a decrease of 23.3% from the prior year. Profit declined 45.9% to $27.8 million.
For the first nine months of fiscal 2009, sales were $1.135 billion, down 14.7% from the first nine months of fiscal 2008. Profit fell 32% to $99.1 million.
"While our performance in the fiscal third quarter was better than anticipated, visibility remains limited as we continue to operate in one of the most severe economic downturns our industry has ever experienced. Feedback from our customers indicates that market conditions have remained weak without any …
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MSC Industrial Direct Co., Inc., a distributor of metalworking and maintenance, repair and operations supplies to industrial customers throughout the United States, reported sales for the second quarter ended Feb. 28, 2009, were $351.9 million, a decline of 19.4% from the second quarter a year ago. Profit declined 44.6% to $26.3 million.
Fiscal year-to-date, sales were $784.9 million, down 10.2% from the first half of fiscal year 2008. Profit was down 24.3%.
By carefully controlling our costs, we were able to achieve margins that were above our expectations despite the soft sales environment. We remain focused on controlling our costs, and recently took additional steps which will allow us to significantly reduce our expenses and drive further reductions …
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The Melville, NY-based distributor of metalworking and MRO supplies, MSC Industrial Direct Co. Inc., is facing an audit by the General Services Administration related to government sales and compliance with the Trade Agreements Act. According to an SEC filing of its quarterly results, "the U.S. Department of Justice has advised the company that GSA OIG’s audit identified non-compliant sales and potential liability arising therefrom." MSC reported however that it does not anticipate its potential liability, if any, to have "any material adverse effect on the company’s consolidated financial position, results of operations or liquidity."
And that’s all we know. MSC is one of many companies that do business with the government, which has stringent rules …
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