The 2020 Mid-Year Economic Update_long
Latest
Avnet warehouse
Operations

Avnet Sales Down 9.7% in Fiscal 2020

Fourth quarter sales down 7.5% year-over-year for electronics distribution giant Avnet.

Beacon
Operations

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.

Manitowoc Company
Leadership

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 Enterprises
Operations

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
Operations

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
Research & Analytics

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.

Veritiv
Operations

Veritiv Sales Down 28.3% in 2Q

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.
Operations

NOW Inc. Sales Plummet in 2Q

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
Operations

Amazon to Build Fulfillment Center in Tampa Bay Area

Amazon's new fulfillment center in Temple Terrace and new delivery station in Lutz will create hundreds of new full-time jobs

White Papers
Reports
Podcasts

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.

Webcasts
Balance sheets with calculator
Join us at 1p.m. Eastern on August 20th for this MDM Webcast. With business disruptions coming from all directions, maintaining a stable balance sheet is critical to profitability. This MDM webcast will address how distributors can manage accounts receivable to keep cash flowing, even while dealing with unpredictable supply and demand.
Spotlight Videos
Business Team Meeting
This MDM Spotlight video breaks down the areas where distributors have the most opportunity to build a more agile organization to leverage the disruptive market conditions that the pandemic has accelerated in 2020. Ranga Bodla, NetSuite Vice President, Field Engagement and Marketing, joins MDM CEO Tom Gale to discuss the core elements of how distributors are creating competitive advantage today with the combined levers of technology, analytics, talent and more adaptive financial and sales models.

Partner Resource Center

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