What HD Supply’s Latest Move Means for Industrial Distribution
Now that HD Supply has shifted gears to sell White Cap to private equity firm Clayton, Dubilier and Rice for $2.9 billion, look for more shifts within the industrial distribution landscape.
MSC Industrial’s Sales Dip 12.6% in July
The industrial distributor said fiscal fourth-quarter sales to date (June and July) were down 14% from the year-ago period.
HD Supply Shifts Gears, Opts to Sell White Cap to CD&R for $2.9B
HD Supply had originally planned to spin off the Construction & Industrial – White Cap business into a separate publicly traded company.
IRCG Weekly Pandemic Revenue Index Shows 1.4% Increase
PRI for the week of July 27-31 registers largest increase since March 9 with half of respondents indicating sales growth.
Avnet Sales Down 9.7% in Fiscal 2020
Fourth quarter sales down 7.5% year-over-year for electronics distribution giant Avnet.
Beacon Roofing Supply Sales Down in 3Q
The company also reported a third-quarter loss of $6.7 million, compared with a $31 million profit in the year-ago period.
The Manitowoc Co. Appoints New President, CEO
Aaron H. Ravenscroft named president and CEO of crane manufacturer, effective immediately; he replaces Barry L. Pennypacker.
DXP’s Sales Down 24.6% in 2Q
Net income for DXP Enterprises was $2.1 million, compared to $13.4 million in the year-ago period.
Fastenal’s July Sales Up 2.6%
The company reported daily sales also up 2.6% versus a year ago based on strength in safety (38% growth).
Goods and Services Deficit Down in June
Year-to-date, the goods and services deficit decreased $23.1 billion, or 7.8%, from the same period in 2019.
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In this June 12, 2020 segment of MDM LIVE, John Caplan, President, North America & Europe, Alibaba.com, urges distributors to drive digital in their businesses and the need for a marketplace strategy going forward. Hear much more from Caplan — including inspiration for taking your business digital, tips on getting started with Alibaba.com and practical advice on how to sell internationally.
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