Distributor says the purchase will enhance its leadership position in metalworking and expand its aerospace industry presence.
Latest In MSC Industrial Supply Co.
MSC Industrial Supply CEO Erik Gershwind details how his company pivoted from being a legacy spot-buy company into becoming a mission-critical partner for its customers.
MSC Industrial Supply CEO Erik Gershwind details how his company pivoted from being a legacy spot-buy company to becoming a mission critical partner for its customers.
Industrial distributor’s sales decline 4% in the first six months compared to year-ago period while profit sinks 53.2% YTD.
With these cost-cutting moves, the industrial distributor aims to save $15 million to $18 million annually beginning in fiscal 2022.
Profit for industrial distributor MSC plummets 41.5% in the fiscal first quarter ended Nov. 28.
Distributor will move to a smaller location with more employees working from home.
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.”
Industrial distributor’s sales decline 11.3% in the fiscal fourth quarter ended Aug. 29 compared to year-ago period while profit dips 21.2%.
The industrial distributor MSC Industrial said preliminary fiscal fourth-quarter sales were down 12.7% and fiscal full-year sales were down 5.1%.
The board of directors of MSC Industrial Supply Co. (NYSE: MSM), a Melville, New York-based MRO distributor, has appointed Rudina Seseri to serve as a director.
MRO distributor MSC Industrial names Faisal Hussain to e-commerce post as part of plan to “deliver a world-class digital experience for our customers.”
MRO distributor MSC Industrial Supply Co. named Kristen Actis-Grande to executive vice president and CFO.
August has brought some more good news to the U.S. economy in general and distribution in general based on the latest round of data reports showing continued momentum, but the industry has plenty of work yet to complete.
The industrial distributor said fiscal fourth-quarter sales to date (June and July) were down 14% from the year-ago period.
The industrial distributor said preliminary fiscal third-quarter sales were $835 million, which would mark a 3.6% decrease from year-ago period.
Combined net sales for the fiscal months of March and April (the first two months of the Company's fiscal third quarter) were $565.4 million, a decrease of 7.8% compared to the same period in the prior fiscal year.
Greg Clark, the company's vice president of finance and corporate controller, will assume the position of interim CFO following Rustom Jilla's departure.
