Census Bureau Releases Two Advance Economic Indicators for September
The U.S. Census Bureau this week released advance indicators showing that the international trade deficit and wholesale inventories both decreased in September.
Type: News
SiteOne Sales Jump 15% in 3Q
Landscape supply distributor SiteOne Landscape Supply Inc. also saw net income increase 39% to $48.2 million as the company benefited from two acquisitions during the quarter.
Applied Industrial’s 1Q Sales Down 12.7%
Tough times continued for Applied Industrial Technologies in the company’s fiscal first quarter; the company’s sales dipped 12.7% and profit fell 10.3%.
Systemax Sales Up 17.1% in 3Q
Systemax, the parent of Global Industrial, reported profit nearly doubled to $24.1 million as the company notched all-time highs in quarterly operating profit and operating margin.
SKF Sales Down 11.6% in 3Q
Bearings manufacturer sees sales drop 14.7% in first nine months of 2020 as soft demand environment continued to hit the company’s top-line performance.
3M’s Sales Up 4.5% in 3Q
Health care sales were strong with 25.5% growth, while safety and industrial group sales of $3 billion were up 6.9%.
Advance Report: New Orders for Durable Goods Up 1.9% in September
Increase of manufactured durable goods is the fifth in a row following the double-digit growth in May, high-single-digit growth in June, double-digit growth in July and low-single-digit growth in August — all of which had been preceded by two decreases during the height of the coronavirus crisis.
MSC’s Sales Down 5.1% in Fiscal 2020
Industrial distributor’s sales decline 11.3% in the fiscal fourth quarter ended Aug. 29 compared to year-ago period while profit dips 21.2%.
Chicago Fed National Activity Index Declines to +0.27 in September
Latest Chicago Fed National Activity Index (CFNAI) shows that three of four broad categories of indicators used to construct the index made positive contributions in September, but all four categories decreased from August.
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.
Optimas Solutions Appoints Marc Strandquist as CEO
Strandquist promoted from his role as president of the Americas, succeeding newly elected Optimas board chair and AIP operating partner TJ Rosengarth.