News
Breaking news in Wholesale Distribution
U.S. Cutting Tool Consumption Drops 33.5% in August
Latest report shows U.S. cutting tool consumption down 0.2% from previous month of July, while year-to-date total is down 23.4% from same period of 2019.
Optimas Solutions Opens DC in St. Louis
Fasteners manufacturer and distributor Optimas Solutions enhances PPE and MRO product distribution with 30,400-square-foot facility.
Motion Industries Sales Dip 18.6% in 3Q
Genuine Parts Co., the parent of Motion Industries, reported that the distributor’s 3Q sales of $1.4 billion were down 18.6% year-over-year, or down 8.7% excluding the EIS divestiture.
Pool Corp. Sales Up 27% in 3Q
In addition to setting a revenue record of $1.1 billion, the pool supply distributor saw profit increase nearly 50% for the quarter.
Border States Electric Announces New Regional Structure
Fargo, N.D.-based electrical distributor Border States Electric unveils new regions designed to “better serve customers and support manufacturers.”
Watsco Sales Increase 10.2% in 3Q
Year-to-date sales grow 5.5% from same period in 2019 as company posts profit growth for both the quarter and the first nine months of 2020.
Grainger’s 3Q Sales Up 2.4%
Industrial distributor Grainger says its U.S. segment sales were up 3.1%, outgrowing the U.S. MRO market which declined an estimated 5% to 6%.
SureWerx Acquires Geroline Inc.
Safety products manufacturer SureWerx, Vancouver, B.C., has acquired Geroline Inc., the St. Catharines, Ontario-based company behind the K1 Series brand of winter traction aids.
Pandemic Revenue Index Ticks Up 2.6%
Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Oct. 12 to Oct. 16 indicated a 2.6% increase compared with the same week a year ago.
Residential Building Permits Up 8.1% in September
Housing starts also up compared to year-ago period and the previous month, according to the latest residential construction report from the U.S. Census Bureau.
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