For a second straight month, none of the PMI's 10 subindexes registered monthly expansion.
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Lower volumes and last year's oil & gas divestiture weighted down on revenue growth, while the company continued to slash inventories.
Member sales in the first six months of 2023 reached a new record of $37.8 billion across 14 divisions and three countries.
The Conference Board Consumer Confidence Index rose again in July to 117.0, up from 110.1 in June and to the highest level since July 2021.
Amid cooling inflation, that figure is an acceleration from 1Q's 2.0% growth.
The industrial distribution giant's results seemed to outperform the rest of the sector, with a sequential revenue growth slowdown more subdued than what others have reported in this earnings cycle.
The increase follows a one-month pause in June and despite recent sharp declines in wholesale and consumer inflation rates.
“May is one of the most important months of the year for AC sales at HARDI distributors and the weather was not helpful," HARDI officials said.
A UPS worker strike could cause pandemic-like disruptions, the National Association of Wholesaler-Distributors President and CEO said.
The 2023 NAFCD + NBMDA Annual Convention will be held in Colorado Springs, Colorado, from Nov. 14-16.
Federal investigators also found the company made workers use their personal vehicles for deliveries and did not pay them when they did.
Operating margin improved year-over-year across all three key business units, while the pace of organic sales declined.
The industrial parts distributor's profit margin grew 190 bps year-over-year despite sales growth that was less than half that of 1Q.
Despite a sequential slowdown in organic sales growth, the bearings giant was able to accelerate its operating margin growth.
"This new chapter in Border States’ recruitment gives us tremendous access to great talent,” said Border States CEO David White.
The decline reflected a broad industrial deceleration, led by a contraction in consumer durable goods.
The program is designed to prevent hazards in warehouses, processing facilities distribution centers and high-risk retail establishments.
The enrollment success has been so robust that ISA has opened an additional certification course that is scheduled to start in mid-August.
Also known as AZ Partsmaster, the company reportedly had 2022 sales of approximately $155 million.
Kimball Midwest is No. 19 on Selling Power magazine’s 50 Best Companies to Sell For in 2023.
