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While inflation is a major tailwind, a sustained increase in average order value above inflation continues to point to increased demand.
It comes about two months after distributors completed their merger to create a company with more than $10 billion in annual revenues and 13,000 employees.
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The now-combined company also provided an update on MRC’s integration, and ERP system migration that has seen major challenges since launched in November.
The company’s Innovative Pumping Solutions segment continues to see substantial year-over-year expansion.
Solid housing construction spend more than offset a second straight nonres decline. Get the full numbers and growth/decline changes here.
Sales and margin growth well-exceeded the market's expectations and that of Grainger itself, with the company attributing it to both pricing and volume.
Ferguson formed a strategic alliance with Contractor Commerce to help contractors modernize online sales, offering self-service buying tools, AI-powered search visibility and eCommerce capabilities directly through contractor websites.
Same-day sales were up mid-single digits vs. February alongside a solid year-over-year gain.
It was the company's 10th straight month of double-digit daily sales grwoth year-over-year and its best month since August 2022 in the height of post-COVID market recovery. We give a full breakdown of Fastenal's April sales metrics here and the context around them.
