 |
Lock in savings now before June 1 rate increase! |
 |
Electrical MRO and construction materials distributor WESCO International Inc., Pittsburgh, PA, reported sales for the
second quarter 2009 were $1.2 billion, compared with $1.5 billion in the second quarter 2008, a decrease
of 27%.
Profit for the second quarter was $26.4 million, about half that of the comparable quarter
2008.
"We are taking quick and decisive actions to manage the company through the global
economic downturn," said John J. Engel, senior vice president and COO. "WESCO is currently facing
weaker end market demand across most of our served markets. We continue to focus our energies on a series
of sales and cost reduction programs and LEAN productivity initiatives to efficiently serve our customers and take market
share in this challenging environment."
WESCO ...
Electrical MRO and construction materials distributor WESCO International Inc., Pittsburgh, PA, reported sales for the
second quarter 2009 were $1.2 billion, compared with $1.5 billion in the second quarter 2008, a decrease
of 27%.
Profit for the second quarter was $26.4 million, about half that of the comparable
quarter 2008.
"We are taking quick and decisive actions to manage the company through
the global economic downturn," said John J. Engel, senior vice president and COO. "WESCO is
currently facing weaker end market demand across most of our served markets. We continue to focus our energies on a series
of sales and cost reduction programs and LEAN productivity initiatives to efficiently serve our customers and take market
share in this challenging environment."
WESCO reported that cost reductions continue, focused on "branch
optimization, staffing adjustments and further elimination of discretionary expenses."
In the second quarter, the company reduced its work force by 900 positions, compared with last year.
For the six months ended June 30, 2009, sales were $2.3 billion, down 23.4% from the year-ago
period. Profit year-to-date was $49.7 million, about half that of last year's first six months.
WESCO
also reported it will continue building up its national accounts and integrated supply businesses. The distributor also is
targeting government spending and stimulus plan opportunities into 2010.
 |
 Download
the Top 40 Industrial List -FREE |
| View the Top Distributors in 12 Sectors: | |
| 2011 Distribution Landscape Report: Access Now | |
Join MDM's Independent Distributor
Network 
Follow MDM on Twitter
 Critical Profit Driversin Distribution Al Bates, Profit Planning Group, speaks frankly about the most important factors to driving profit. Watch now. iPad users: click here to view. |
 Economic Update:Behind the Moderation MAPI Economist Cliff Waldman discusses some of the factors behind the slowing economic recovery. Watch now. |
 7 Minutes With ...Bell Electrical Supply CEO Burt Schraga discusses the importance of building a strong culture in his organization. Watch now. |
More Audio and Video Features from MDM: |
Think About It: |
|
Training Resources
 |
 |
 |
 |
|||
|
Featured Article: What AmazonSupply.com Means for Independent Distributors $34.95 |
Inventory Management Best Practices with Jon Schreibfeder: DVD + Book $119.00 |
The State of E-Commerce and Catalogs in Distribution $44.95 |
Benchmarks & Best Practices: The Answer Book for Growth-Minded CFOs & Controllers $249.00 |
| Title | Company | Location |
|---|---|---|
| Digital Strategy Manager | Border States Electric | Fargo North Dakota |
| Risk Manager | Border States Electric | Fargo ND |
| Purchasing Manager | PCA SKIN | Scottsdale, AZ |
| BUSINESS DEVELOPMENT MANAGER | Graybar Electric Company | Denver, CO |
| INDUSTRIAL OUTSIDE SALES REPRESENTATIVE | Graybar Electric Company | Phoenix, AZ |
| General Manager | Applied Industrial Technologies | Norfolk, VA |
| Rubber Specialist | Applied Industrial Technologies | Baltimore, MD |
| View ALL Wholesale Distribution Job Listings |
|
|
 |
|
|
|
 |
Leave a Comment