UK-based Wolseley plc announced it would be continuing to cut costs across the company, as sales continued to decline. In its pre-close period trading statement for the 11 months ended June 30, revenues from continuing operations were down 1.5% to £13.25 billion (US$21.86 billion). Profit from continuing operations was down 47%. More

While average revenues were down 16% in the second quarter year-over-year, respondents to the second-quarter Baird Industrial Distribution Survey expect to see some improvement in the third quarter, with revenues down and average of 11.6% year-over-year. …