January 15, 2020 - Modern Distribution Management

Day: January 15, 2020

State Electric Supply CEO Clarence Martin Dies

Clarence Martin, the Chief Executive Officer and Chief Financial Officer at State Electric Supply, has died. Martin was hired at State Electric Supply in 1972 as the company’s comptroller, when the company only had 41 employees and two branches. With Martin’s guidance and leadership, State now has 44 branches across seven states, with nearly 800 …

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MSC’s Sales Down 1% in Fiscal First Quarter

Industrial distributor MSC Industrial Direct Co. Inc. (NYSE: MSM), Melville, New York, reported fiscal 2020 first quarter sales of $823.6 billion, a 1% decrease compared to fiscal 2019. Annual profit was $65.4 million, a 11.8% decrease compared with the first quarter last year. Ecommerce sales inched up barely in the quarter, which ended Nov. 30, but remained …

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Builders FirstSource CEO to Retire in 2020

Builders FirstSource Inc. (Nasdaq: BLDR), Dallas, has announced that CEO Chad Crow will retire this year after 20 years with the company. Crow will leave after assisting the company’s board of directors in hiring his replacement. He will also continue to work with Builders FirstSource in a consulting capacity for a period of time following the appointment …

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Fortive Names New Global Industrial Company

Fortive Corp. (NYSE: FTV), Everett, Washington, has announced that the name of the new global industrial company which is expected to separate from Fortive later this year will be Vontier Corporation. Vontier will focus on transportation and mobility markets and will be comprised initially of a portfolio of leading retail and commercial fueling, fleet management, and …

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7 Ways for Distributors to Start the Year Off Strong

As we all recognize, changes are coming faster, manufacturers are spreading out geographically, customers are expecting rapid response and technology continues to bypass the breakthrough visions of a just few years ago. Add to that the volatility in ownership patterns (mergers, private equity, public offerings, spin offs and more), and we often find that most …

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