News
Breaking news in Wholesale Distribution
Avnet Names Phil Gallagher CEO
Gallagher, who has been with Avnet for 37 years, had been serving as interim CEO since August
Chicago Fed National Activity Index Improves to +0.83 in October
Latest Chicago Fed National Activity Index (CFNAI) shows that three of four broad categories of indicators used to construct the index made positive contributions in October, and three of the four categories increased from September.
MSC Industrial Supply Names VP for Cross-Channel Growth
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.”
Protective Industrial Products Adds Bolt-On PPE Supplier
PE-backed PPE manufacturer Protective Industrial Products Inc. has bought Primax Manufacturing & Trading Inc., a maker of safety gloves and other protective clothing.
Pandemic Revenue Index Slips 2.2%
Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Nov. 9 to Nov. 13 indicated an 2.2% decrease — but will more lockdowns further drag revenues in the coming weeks?
Beacon Roofing Supply Sales Down 2.3% in Fiscal 2020
Building materials distributor Beacon Roofing Supply also reported that fourth-quarter revenue of $2 billion marked a 0.6% decline from the same period in 2019.
ABC Supply Opens Location in Quincy, Mass.
Joe Camara, who has been with the company since 2007, will manage the building materials distributor’s newest location.
Residential Building Permits Up 2.8% in October
Housing starts also up compared to year-ago period and the previous month, according to the latest residential construction report from the U.S. Census Bureau.
U.S. Cutting Tool Consumption Down 20.5% in September
Latest report shows U.S. cutting tool consumption up 14.7% from previous month of August, while year-to-date total is down 23.1% from same period of 2019.
Lowe’s 3Q Sales Spike 28.3%
Lowe’s also posts a profit of $692 million as the company continues to ride the wave of home improvement growth amid the COVID-19 pandemic.
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