News

Breaking news in Wholesale Distribution

Economic Trends

Real U.S. GDP Down 4.8% in 1Q According to Advance Estimate

In the fourth quarter of 2019, real GDP increased 2.1%.

Operations

Anixter’s Sales Down 2% in First Quarter

Profit was $35.7 million, down 9% over 2019.

Operations

Avnet’s Sales Down 8.3%

The company reported an operating loss of $115.8 million.

Operations

PPG Industries Sales Down 7% in 1Q

Sales were down nearly 5% in constant currencies.

Operations

Crane Co. Sales Fall 4.1% in First Quarter

Sales in its fluid handling segment decreased 6%.

Operations

ABB’s Sales Fall 9% in Q1

The company reported profit of $376 million, a 30% drop when compared to the year-ago period.

Operations

3M’s Sales Up 2.7% in 1Q

Safety and Industrial group sales of $2.9 billion were down 1% in U.S. dollars.

Strategy

Coronavirus Accelerates Timeline for Changes at Stellar Industrial

The industrial distributor is encouraging a company-wide focus on opportunities to improve operational efficiencies, including making some COVID-19-induced changes permanent. President and CEO John Wiborg is also elevating ROI expectations from existing technology investments.