Though the fallout for distributors from COVID-19 continued to be a hot topic in April, news on Amazon Business garnered the most attention from MDM readers during the month. New data show the enormous number of SKUs available on the platform and that it may be poised to become the top industrial distributor in the U.S.
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Year-to-date, the goods and services deficit decreased $28.1 billion, or 17.8%, from the same period in 2019.
First quarter Electronic Instruments Group sales were $774.2 million, down 4% compared to the same period in 2019.
Net product sales accounted for $41.8 billion, up 22% year over year from $34.3 billion.
The company reported sales of $2.1 billion for the first quarter, up 0.4% compared to a year ago.
For the first nine months, sales totaled $1.5 billion, down 15% over the same period in 2019.
The company reported a loss of $8.9 million for the quarter compared to a loss of $3.2 million in the first quarter of 2019.
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The company has welcomed a new CEO, David White, and president, Jason Seger. The change comes after CEO Tammy Miller retired from her role on March 31.
The intent of the pay cut is to help mitigate the Coronavirus potential impact on BlueLinxs business and industry and the economy in general.
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Please join us for our live program this Friday, Mar. 27, 2-4 pm Eastern, where our guests will share their experiences and impacts of the Covid-19 pandemic on customers, suppliers, operations and team. Your co-hosts will be Tom Gale and John Gunderson of MDM, and Mike Marks of Indian River Consulting Group.
New orders placed in January 2020 fell 34% from January 2019, the lowest since January 2017.
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Executive vice president Regions, Jason Seger, will be taking over as president for David White, who will be promoted to CEO.
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