The 2020 Mid-Year Economic Update_long

Interline Sales Down 2.1% in 1Q


Interline Brands, Inc., Jacksonville, FL, distributor and direct marketer of maintenance, repair and operations products, reported sales for the first quarter 2008 were down 2.1% from the prior-year period.
 
The current market environment has proven to be one of the more challenging in recent memory," said Michael Grebe, Interline's CEO. "While the first two months of the year were consistent with our initial expectations, revenues in March took an unexpected downturn in all three of our major end-markets. April results have improved, but market visibility still remains at a very low level."
 
Interline's facilities maintenance market, which comprised 68% of sales, grew 4.5% during the first quarter on an average daily sales basis. This growth was offset by ...

Interline Brands, Inc., Jacksonville, FL, distributor and direct marketer of maintenance, repair and operations products, reported sales for the first quarter 2008 were down 2.1% from the prior-year period.
 
The current market environment has proven to be one of the more challenging in recent memory,” said Michael Grebe, Interline’s CEO. “While the first two months of the year were consistent with our initial expectations, revenues in March took an unexpected downturn in all three of our major end-markets. April results have improved, but market visibility still remains at a very low level.”
 
Interline’s facilities maintenance market, which comprised 68% of sales, grew 4.5% during the first quarter on an average daily sales basis. This growth was offset by continued weakness in the pro contractor and specialty distributor end-markets. The pro contractor end-market, which comprised 20% of sales, declined 15.2% in the quarter. The specialty distributor end-market, which comprised 12% of sales, declined 12.6% for the quarter.
 
“First quarter results in our core end-markets were mixed. The multi-family market, which represents one-third of our overall revenue, remained relatively strong while the institutional facilities market began to soften late in the first quarter. Our pro contractor end-market remained weak as residential construction and remodeling activity continued to decline in the quarter. However, our national accounts and supply chain initiatives continued to score gains during the quarter, and we remain optimistic about the long-term prospects for our business,” said William Sanford, president.
 
First-quarter operating income decreased 9.7%,

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.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

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

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 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

1

article
left

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 mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

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