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In its first earnings report since completing the $4.5 billion acquisition of Anixter International Inc., WESCO notched a loss of $34.5 million.
Roofing distributor names Samuel Guzman Jr. to role, replacing interim CAO Thomas Schmitz.
The seasonally adjusted Fastener Distributor Index (FDI) for July was 54.6, consistent with improving momentum (above 50 reading) but at a slower rate versus the improvement seen in June.
Like most companies, Applied was impacted in the period by the COVID-19 crisis and saw fourth-quarter sales fall 17.9% over the same period in 2019.
The industrial distributor said fiscal fourth-quarter sales to date (June and July) were down 14% from the year-ago period.
HD Supply had originally planned to spin off the Construction & Industrial – White Cap business into a separate publicly traded company.
PRI for the week of July 27-31 registers largest increase since March 9 with half of respondents indicating sales growth.
Fourth quarter sales down 7.5% year-over-year for electronics distribution giant Avnet.
The company also reported a third-quarter loss of $6.7 million, compared with a $31 million profit in the year-ago period.
Aaron H. Ravenscroft named president and CEO of crane manufacturer, effective immediately; he replaces Barry L. Pennypacker.
