Global Industrial's 2024 sales increase was predominantly driven by its 2023 acquisition of Indoff, though decelerating in the back half.
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Anesa Chaibi, a veteran executive with experience in MRO distribution, was tapped for Global Industrial's top post.
The company attributed its decline in sales to a challenging demand environment and continued softness in its core customer base.
The company launched a multi-year marketing deal to enhance brand awareness and support community initiatives.
The industry veteran joins Global with over 20 years of strategy and marketing experience, most recently at Resideo.
The distributor noted cautious customer purchasing and mixed monthly revenue performance.
Barry Litwin has been the distributor’s top executive since early 2019 and has overseen considerable company innovations in his tenure.
That's down from 5.1% in 4Q, as Global's 2Q23 acquisition of Indoff Inc. continued to inflate its year-over-year results.
The distributor saw healthy 4Q organic growth, too, with comparable sales up 5.1% excluding GIC's May 2023 acqusition of Indoff.
Gary Michel fills a vacancy on Global Industrial's board left by Thomas Suozzi, who resigned after being elected to the U.S. House.
The distributor returns as a multi-race primary partner in the NASCAR Xfinity Series and will debut in the Cup Series.
Vizient is the largest provider-driven healthcare performance improvement company in the US.
The company's Spring 2023 acquisition of office products distributor Indoff powered most of the growth, while volume also improved.
Mike Hockett recounts his fireside chat with Barry Litwin at MDM’s SHIFT conference, where the CEO detailed how the company actioned its many recent initiatives.
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Mike Hockett dives into the distributor’s sponsorship of a NASCAR XFINITY Series race car, focusing on the many benefits the distributor is seeing from it.
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Excluding Global's $69 million acquisition of Indoff that closed in May, 2Q sales were down 5.2% year-over-year.
Global Industrial CEO Barry Litwin shares what made Indoff the perfect fit to be the industrial distributor’s first acquisition since 2015.
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Global Industrial says the acquisition expands the industrial distributor’s one-to-one sales reach to new customers and markets.
The company reported 1Q 2023 gross profit of $98.4 million, down from the $107.8 million reported during the same quarter in 2022.
The company said 4Q sales were $260.5 million — down 0.6% from the same quarter in 2021 — while total-year sales increased 9.7%.
