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2020

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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Grainger Announces Leadership Change in Online Business

Grainger (NYSE: GWW), Chicago, has announced that David Rawlinson, senior vice president and president, Grainger Online Business, will be leaving the company effective February 1, 2020, to become the CEO of a newly formed public company. Rawlinson joined Grainger as Vice President, Deputy General Counsel and Corporate Secretary in 2012, and progressively expanded his experiences, taking on leadership of …

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WESCO International and Anixter International Announce Merger

WESCO International, Inc. (NYSE: WCC), a leading provider of electrical, industrial, and communications MRO and OEM products, construction materials, advanced supply chain management and logistics services, and Anixter International Inc. (NYSE: AXE), a leading global distributor of Network & Security Solutions, Electrical & Electronic Solutions, and Utility Power Solutions, today announced that their boards of directors have unanimously …

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shopping cart - e-commerce

Why Distributors are Revamping Their Sales Coverage Plans

B2B distribution sales managers generally believe that driving sales is all about hiring, retaining and managing the best account managers. You hire the most skilled outside account managers you can, and then pair them up with excellent inside sales support. Then, the more calls your skilled account managers can make on customers, the more the …

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Manufacturing Employment Fell by 12,000 in December

Total nonfarm payroll employment rose by 145,000 in December, and the unemployment rate was unchanged at 3.5%,according to the U.S. Bureau of Labor Statistics. Notable job gains occurred in retail trade and health care, while mining lost jobs. Manufacturing employment was down by 12,000. Employment in the industry changed little in 2019, growing by 46,000, after increasing in 2018 by 264,000. …

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News Digest 5001

Distributor WESCO International Inc., Pittsburgh, has confirmed that it is seeking to acquire Anixter International Inc., Glenview, Illinois. The offer is valued at $90 per Anixter share. The offer came one day after Anixter reported it had agreed to a bid worth $86 per share and $2.50 per share contingent value rights from private equity firm Clayton, Dubilier & …

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Motion Industries Names VP of Central Group

Motion Industries, Birmingham, Alabama, a subsidiary of Genuine Parts Company (NYSE: GPC), has named Chris Pacer to vice president of the company’s newly formed Central Group. Pacer has more than 24 years of experience within the industry and has spent the last 22 years with Motion Industries, which were dedicated to various key roles throughout the organization.

Acuity Brands Names President & CEO

Acuity Brands Inc. (NYSE: AYI), Atlanta, has named Neil M. Ashe as its next president and CEO, effective Jan. 31, 2020.  The Board of Directors also appointed Ashe as a member of the Board. Ashe will take over the CEO position from Vernon J. Nagel, who will remain with the company in the newly created role of executive …

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December’s Top Blogs Reveal How Market Changes Could Affect Distribution

The last month of 2019 saw MDM readers interested in advice for the new decade. From tips on competing with Amazon Business to discussing how to appeal to the next generation to the story of how one company reinvented itself, our readers were most interested in ways to get ahead of the curve. Follow the links …

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ORS Nasco and MEDCO Name President & CEO

ORS Nasco, a wholesaler of industrial and safety supplies, and MEDCO, a wholesale distributor of automotive aftermarket tools and collision repair products, have named Kevin Short as president and CEO. The two companies were acquired by One Equity Partners from Essendant in October 2019. Most recently, Short was president of Plaskolite, a global leader in plastic sheet manufacturing …

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