A pull-back in DIY spending, flat Pro customer sales and unfavorable January winter weather impacted Lowe's comparable sales numbers.
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Thirty-three major work stoppages began in 2023, the most since 2000 when there were 39, according to the U.S. Bureau of Labor Statistics.
However, the year-over-year sales declines improved throughout the year and were down only 4.7% in the fourth quarter.
A decrease in BlueLinx's 4Q23 sales reflects a decline in specialty and structural product sales, primarily driven by price deflation.
In 2023, the distributor paid down $160 million of debt and reduced inventory by $100 million while maintaining fill rates above 94%.
CEO Ted Decker noted that 2023 was "a year of moderation" for the DIY and contractor supply retail giant.
Following his three-part article series, we had John Gunderson on the podcast for a deeper dive into Fastenal’s move from a company dependent on a nationwide branch network to one that emphasizes embedded customer service.
For the sixth consecutive year, an intersection in New Jersey topped the list as the worst truck bottleneck in the U.S.Â
North American full-year sales reached nearly $8.9 billion for a 4.0% annual gain. See our in-depth breakdown of Rexel's financials.
The restructuring includes a voluntary retirement offer and "rationalization and optimization" of certain DCs, stores and other facilities.
Overall 4Q and full year profit spiked on a deferred tax benefit, while sales continued low single-digit annual growth.
Meanwhile, gross margin at Resideo's manufacturing business unit saw solid improvement during 4Q23.
However, lower volume driven by deferred activity in the gas utilities sector didn't stop the company from modest full-year growth.
Watsco's 2023 follows two years of record-setting performances and faces softer comparative market conditions.
While 4Q volume fell in certain verticals, Wesco said it saw growth in industrial, utility, data center and network infrastructure.
In a step toward vertical integration, independent industrial distributor B&D Industrial acquired a Michigan-based gear manufacturer.
The portable and power products maker has added Macromatic Industrial Controls (Waukesha, WI) and Primax Technologies (Point-Claire, Quebec).
Full-year 2023 total sales were $4.73 billion, up 5.3% from 2022.
The manufacturers say the deal will create a scalable growth platform that expands Owens Corning’s addressable market to $27 billion.
The results showed a continued slide in year-over-year and sequential sales growth that reflected an industry-wide demand slowdown.
