The 2020 Mid-Year Economic Update_long

HARDI Distributors Report 2.7% Revenue Growth in August

The average annualized sales growth for the 12 months through August 2019 is 7.6%.

Sales for HARDI distributor members increased by 2.7% percent during August, according to its monthly TRENDS report. The average annualized sales growth for the 12 months through August 2019 is 7.6%. 

“There are two important factors to consider with the sales this month,” said HARDI Market Research & Benchmarking Analyst Brian Loftus. “It was warmer during August of 2018 in four of our economic regions and about flat year-to-year in two others.  There was one less billing day across all seven regions.  We estimate the sales growth for the month would have been closer to 7% with the same number of billing days, and that would be a strong result given the poor cooling degree day comparison.”

The Days Sales Outstanding (DSO), a measure of how quickly customers pay their bills, is now 44.2 days. “The DSO is consistent with performance for this time of year,” said Loftus.  “I was wondering if a slower sales rate this year would lead to a lower DSO but that has not been the case.”

“This is the Tom Brady of economic expansions in terms of duration and continued success,” said Loftus.  “We have 107 months, almost nine years, of consecutive job growth.  The unemployment rate continues at the formerly unimaginable rate of 3.7%.  Consumer confidence has eased a little [Peyton Manning was slower in his Super Bowl winning final season] but remains at nothing short of very high levels.  Some of the economic reports are generating concern, but the overall economic performance is excellent, especially at this advanced age.”  This economy is not done winning and either are the Patriots.

View the HARDI July report here.

Related Posts

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events


articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.