Rexel 1Q Sales Decline 4% - Modern Distribution Management

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Rexel 1Q Sales Decline 4%

CEO: Electrical supplies distributor starting to see 'encouraging signs in its business.'

Paris-based electrical supplied distributor Rexel reported sales for the first quarter 2010 were €2.7 billion (US$3.4 billion), a decline of 4 percent from first quarter 2009. On a same-day organic basis, sales were down 5.7 percent. Profit was €29.3 million (US$37 million), compared to €0.8 million (US$1 million) a year ago.

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\”Although the market remains challenging, Rexel is starting to see encouraging signs in its business,\” CEO Jean-Charles Pauze said. \”With focused and motivated teams, we continue to seize opportunities as markets rebound, building on our strong positions in key growth segments such as lighting retrofit, renewable energies and major projects.\”

In Europe (60 percent of Rexel’s sales), sales were down 3.4 percent. Germany, Austria and Switzerland posted strong growth of 16.1 percent, 9.7 percent and 4.7 percent respectively. Sales in France and the UK declined 2.3 percent and 4.2 percent.

In North America (28 percent of sales), sales were down 13.5 percent, with U.S. sales declining 16.7 percent. Canadian sales were down 4.5 percent, with the commercial and manufacturing sectors showing some signs of improvement.

Asia-Pacific sales (9 percent) increased 7.4 percent, driven primarily by strong development in China.

Rexel closed 15 branches during the quarter, bringing the total to 137 branches closed over the last 12 months.

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