The 2020 Mid-Year Economic Update_long

MSC Sales Up 6.8% in Fiscal 2Q

Sales for first six months of $1.4 billion up 7.3% from prior-year period.

Industrial distributor MSC Industrial Direct Co. Inc. (NYSE: MSM), Melville, NY, reported sales for its fiscal second quarter ended Feb. 28 of $706.4 million, an increase of 6.8 percent from the prior-year period. Profit for the quarter was $51.5 million, up 4.1 percent from the same quarter a year ago.

Sales for the first six months were $1. 4 billion, up 7.3 percent from the prior-year period. Profit was $108.9 million, up 0.4 percent.

"We have seen a significant and swift change in the demand environment since the start of the calendar year due to the impact of the rapid drop in oil prices, softening export demand and poor weather," said Erik Gershwind, president and CEO.

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