Eric Smith

Senior Editor Eric Smith is an award-winning business journalist whose coverage focus includes economic news and insights, industry trends, M&A, and analysis of small businesses and public companies across the wholesale distribution marketplace. Reach him at eric@mdm.com or 720-207-0335.

Behind One Distributor’s Record 3Q, Future Growth Plans

In the latest MDM interview, Barry Litwin, CEO of Systemax — the publicly traded parent of Global Industrial and other businesses — discussed the company’s 3Q performance, what’s driving growth in 2020 and the “permanency” of pandemic-related products.

Research & Analytics

Real U.S. GDP Up 33.1% in 3Q According to ‘Second’ Estimate

The increase in real GDP reflected increases in PCE, private inventory investment, exports, nonresidential fixed investment, and residential fixed investment that were partly offset by decreases in federal government spending.

The Bossard Group Invests in Welding Business

Swiss fastener distributor The Bossard Group has invested a 40% stake in the startup company MultiMaterial-Welding AG, Stansstad, Switzerland.

Emerson Completes Acquisition of 7AC Technologies

Emerson says acquisition will help the company’s customers “further their sustainability goals through better air management.”

Research & Analytics

Is a Grim Winter Coming?

The news has mostly been good since our last update on the reports affecting wholesale distribution, manufacturing and the overall economy, but as coronavirus cases rise, so do fears of a so-called “COVID-19 cliff.”

Avnet Names Phil Gallagher CEO

Gallagher, who has been with Avnet for 37 years, had been serving as interim CEO since August

Research & Analytics

Chicago Fed National Activity Index Improves to +0.83 in October

Latest Chicago Fed National Activity Index (CFNAI) shows that three of four broad categories of indicators used to construct the index made positive contributions in October, and three of the four categories increased from September.

MSC Industrial Supply Names VP for Cross-Channel Growth

Industrial distributor appoints Mark Pickett to newly created role for “leading and driving a consistent brand experience for customers across all of MSC’s platforms and channels.”

Protective Industrial Products Adds Bolt-On PPE Supplier

PE-backed PPE manufacturer Protective Industrial Products Inc. has bought Primax Manufacturing & Trading Inc., a maker of safety gloves and other protective clothing.

Research & Analytics

Pandemic Revenue Index Slips 2.2%

Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Nov. 9 to Nov. 13 indicated an 2.2% decrease — but will more lockdowns further drag revenues in the coming weeks?

Beacon Roofing Supply Sales Down 2.3% in Fiscal 2020

Building materials distributor Beacon Roofing Supply also reported that fourth-quarter revenue of $2 billion marked a 0.6% decline from the same period in 2019.

ABC Supply Opens Location in Quincy, Mass.

Joe Camara, who has been with the company since 2007, will manage the building materials distributor’s newest location.

Research & Analytics

Residential Building Permits Up 2.8% in October

Housing starts also up compared to year-ago period and the previous month, according to the latest residential construction report from the U.S. Census Bureau.

Research & Analytics

U.S. Cutting Tool Consumption Down 20.5% in September

Latest report shows U.S. cutting tool consumption up 14.7% from previous month of August, while year-to-date total is down 23.1% from same period of 2019.

Lowe’s 3Q Sales Spike 28.3%

Lowe’s also posts a profit of $692 million as the company continues to ride the wave of home improvement growth amid the COVID-19 pandemic.

Research & Analytics

Fastener Distributor Index Up in October

The seasonally adjusted Fastener Distributor Index (FDI) for October was 56.5, up from 49.2 in August.

Research & Analytics

Manufacturing and Trade Shipments Up in September

The U.S. Census Bureau reported that the combined value of distributive trade sales and manufacturers’ shipments and inventories for September was up 0.8% from the same month last year.

Research & Analytics

Industrial Production Up 1.1% in October

According to the Industrial Production and Capacity Utilization Report, manufacturing output increased 1% during the month; industrial production was still 5.6% below its pre-pandemic February level.

Ferguson Acquires Two Companies

Plumbing and HVAC distribution giant Ferguson adds Old Dominion Supply Inc. and Atlantic Construction Fabrics Inc. to its portfolio.

Heritage Landscape Supply Group Expands into Kansas

The 11,000-square-foot location for Heritage Landscape brand HLS Outdoor will be led by Jamie Greenstreet, a nine-plus year industry veteran with experience serving in various operational roles.

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