The 2020 Mid-Year Economic Update_long

MSC Industrial’s Sales Rise 6.3% in May

The industrial distributor said preliminary fiscal third-quarter sales were $835 million, which would mark a 3.6% decrease from year-ago period.

Industrial distributor MSC Industrial Direct Co. Inc. (NYSE: MSM), Melville, New York, reported preliminary, unaudited sales for the fiscal month of May — the third month of the company's fiscal third quarter — were $269.6 million, an increase of 6.3% compared to the same period in the prior fiscal year.

The company said the May sales increase was driven by the fulfillment of the large safety and janitorial backlog that had built in prior months. At the same time, booking levels for safety and janitorial orders decreased during May from the elevated levels of March and April. As a result, order backlog decreased and now stands at approximately $100 million, which is below last month but still above historic levels.

Combined net sales for the fiscal third quarter ended May 31 were $835 million, a decrease of 3.6% compared to the same period in the prior fiscal year.

MSC Industrial will report 3Q earnings on July 8.

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