The unemployment rate (3.5% at the end of 2019) has decreased every year since the height of the 2008 financial crisis, according to the Bureau of Labor Statistics. With the labor market expected to follow its current trajectory into 2020, now is the time for distributors to consider strengthening recruiting efforts to tap into the […]
How to Get Your Hiring on Track Read More »
Crane Co. (NYSE: CR), Stamford, Connecticut, reported 2019 sales of $3.3 billion, down 2% from 2018. Full year 2019 operating profit was $210 million, compared to $441 million in 2018. Fourth quarter 2019 sales were $838 million, a slight decline compared to the fourth quarter of 2018. Fourth quarter 2019 operating loss was $135 million, compared to operating
Crane Co. Sales Down 2% in 2019 Read More »
Pentair plc (NYSE:PNR) has announced that Mark Borin has informed the company of his intention to resign as executive vice president, CFO and chief accounting officer and that he has accepted an operational leadership opportunity at a private, employee-owned company. Pentair has commenced a search for the company’s next CFO, and Borin plans to remain
Pentair plc Announces the Resignation of CFO Mark Borin Read More »
3M (NYSE: MMM), St. Paul, Minnesota, reported sales for 2019 of $32.1 billion, a year-over-year decrease of 1.9%. Organic local-currency sales decreased 1.5%. Profit for the diversified manufacturer decreased 14.6% to $4.6 billion. For the fourth quarter, sales rose 2.1% to $8.1 billion. Organic local-currency sales fell 2.6%. Profit decreased 28.1% to $969 million. Total sales
3M Sales Down 1.9% in 2019 Read More »
In the movie and TV series The Equalizer, the main character helps people even the odds in difficult situations. He “equalizes” things. In distribution or any business, the odds often seem to be against the little guy. Larger companies get larger, mergers and acquisitions seem to undercut your efforts. What’s a distributor to do? The internet
Will Promoting Content Over Product Help to Grow Your Business? Read More »
Milwaukee Tool, Brookfield, Wisconsin, has announced plans for a new vertically integrated manufacturing plant in West Bend, Wisconsin. The facility will manufacture hand tools for professional electricians and utility linemen. “With a focus on core users in the electrical, plumbing, and mechanical trades, our strategy for hand tools from the beginning has been to disrupt
Milwaukee Tool to Build New Manufacturing Plant Read More »
This report is researched and produced by MDM editors. View the Third Quarter report here. These product groups provide a snapshot of inflation trends based on the Producer Price Index from the U.S. Bureau of Labor Statistics. Fourth quarter 2019 pricing levels are compared with third quarter 2019 and fourth quarter 2018. Annual 2019 levels are compared to annual 2018 levels.
MDM Pricing Trends Report: Fourth Quarter & Annual 2019 Read More »
Wholesale revenues in November were $500.7 billion, up 0.8% from November 2018 and up 1.5% over October. November sales of durable goods were up 0.9% over last month and down 1.1% from a year ago. Sales of nondurable goods were up 2% over October and up 2.6% over last November. Inventories were $674.9 billion at
Monthly Wholesale Trade Data: November 2019 Read More »
In this report, available to download below, we feature data on merger and acquisition trends and financial metrics for the largest publicly traded distributors across diverse sectors during the fourth quarter of 2019. In partnership with Houlihan Lokey, an investment banking firm, the report includes data on M&A activity trends across all industries (not just
Fourth Quarter 2019 Financial Metrics & Trading Multiples Read More »
Distributor Ohio Transmission Corporation, Columbus, Ohio, has acquired Laron Inc., Kingman, Arizona, a leading service provider of mechanical and electric motor repair and engineering in the southwestern United States. More. MSC Industrial Direct Co. Inc., 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
Avnet Inc. (NYSE: AVT), Phoenix, AZ, reported sales for the second quarter of $4.5 billion, down 10.2% over the same period a year ago. Profit decreased from $36.4 million to $3.7 million. For the first six months of the year, sales decreased 8.9% to $9.2 billion. Profit decreased from $120.1 million to $45.4 million.
Avnet Sales Fell 10.2% in Fiscal 2Q Read More »
Sonepar North America, a subsidiary of the privately held France-based Sonepar Group, has named Chuck Delph as president of its subsidiary Vallen North America. Delph has been president of Vallen US since March 2018.
Sonepar Appoints President of Vallen North America Read More »
Industrial distributor Applied Industrial Technologies (NYSE: AIT), Cleveland, reported fiscal second-quarter sales of $833.4 million, down 0.8% compared to the year-ago period. Net income fell 1.8%to $38 million. Excluding a 3.2% increase from acquisitions, sales decreased 4% on an organic basis reflecting a 3.5% decline in the Service Center segment and a 4.9% decline in the Fluid Power &
Applied Industrial Sales Fall 0.8% in Fiscal Second Quarter Read More »
AD, Wayne, Pennsylvania, the largest contractor and industrial products wholesale buying group in North America, has announced a new director and two reelected directors among its complement of 12 board members and committee chairs. President of Border States Electric David White is AD’s newest director. White served on the board previously while he was president of Shealy Electrical
AD Elects 2020 Board of Directors Read More »
Led by declines in production-related indicators, the Chicago Fed National Activity Index (CFNAI) fell to 0.35 ;in December from +0.41 in November. Three of the our broad categories of indicators that make up the index decreased from November, and three of the four categories made negative contributions to the index in December. The index’s three-month
The Chicago Fed National Activity Index Fell to -0.35 in December Read More »
Evergreen Marketing Group CEO Kevin Higginbotham has announced plans to retire in mid-2022. As a result of the announcement, the Evergreen Board of Directors has named a Succession Steering Committee to lead the transition. Higginbotham joined Evergreen in June 1995 as executive director and was named CEO in 2006. Keith Turtenwald, chairman of the Evergreen board of directors, said,
Evergreen Marketing Group Outlines Succession Plan Read More »
Optimas OE Solutions LLC, Glenview, Illinois, has named three industry executives to the company’s leadership team, including Marc Strandquist as president of the Americas, Mike Tuffy as president of International and Kate Daly as senior vice president of Global Human Resources. These industry veterans will focus on business growth and organizational strategy while strengthening operations and
Optimas OE Solutions Names Three Executives to its Leadership Team Read More »
Emuge Corp., West Boylston, Massachusetts, has named Scott Lowe as national accounts manager for the U.S. and Canada. In his new position, Lowe is responsible for developing and managing channel partner relations with key customers, distributors and integrated suppliers of Emuge products. “I am very pleased to welcome Scott to Emuge to further strengthen our sales organization
EMUGE Appoints Kennametal Veteran as National Account Manager Read More »
Not long ago, the B2B distribution business presented a fairly simple equation: The more calls your skilled account managers could make on customers, the more those customers would buy. You built your sales process on this foundation of face-to-face interactions. You won by having the best team, with the right inventory in branches near the
Fastenal Quarterly Report Reinforces How Customer Dynamics are Changing Read More »
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