The seasonally adjusted Fastener Distributor Index (FDI) for August was 49.2, down from 54.6 in July, according to the latest analysis from Baird, FCH Sourcing Network and the Institute for Supply Management. The Forward-Looking Indicator (FLI) was relatively steady, staying in the ~53-54 range seen consistently over the past three months (August, 53.3). According to […]
Eric Smith
MSC Industrial’s Sales Dip 9.7% in August
Industrial distributor MSC Industrial Supply Co. (NYSE: MSM), Melville, New York, reported sales for the fiscal month of August — the third month of the company’s fiscal fourth quarter — were $240.3 million, a decrease of 9.7% compared to the same period in the prior fiscal year. MSC Industrial said that during fiscal August: “Average daily sales […]
Capital Electric Names New President
Sonepar USA, a Charleston, South Carolina-based subsidiary of Sonepar Group, announced Thursday that Drew Esce has been named president of Capital Electric, Upper Marlboro, Maryland. Esce, pictured right, joined Sonepar USA as a part of the City Electric acquisition in 2018. He has served as the vice president for New York and Eastern Pennsylvania for […]
AD Opens New Canada Warehouse, Meeting Center
Wayne, Pennsylvania-based buying group AD on Thursday announced the opening of its new Canada warehouse and meeting center, located in the greater Toronto area. The new facility provides Canada-based AD members with redistribution of over 75 product lines of industrial, safety and janitorial items, including private-label brand Tuff Grade. The original warehouse location came to […]
Pandemic Revenue Index Spikes 29.2% Due to Favorable Calendar Comp
Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Aug. 31 to Sept. 4 indicated a 29.2% increase compared with the same week a year ago, which is driven by Labor Day falling during this same week in 2019, thus, resulting in a five-day week in 2020 versus a four-day […]
What’s HD Supply’s Next M&A Move?
With all the cash that HD Supply Holdings Inc. is about to collect in exchange for its Construction & Industrial – White Cap division, it’s no wonder that one of the burning questions for the Atlanta-based company revolves around with whom and when will the company replace its latest portfolio departure. After all, $2.5 billion […]
What’s HD Supply’s Next M&A Move?
With all the cash that HD Supply Holdings Inc. is about to collect in exchange for its Construction & Industrial – White Cap division, it’s no wonder that one of the burning questions for the Atlanta-based company revolves around with whom and when will the company replace its latest portfolio departure. After all, $2.5 billion […]
What’s HD Supply’s Next M&A Move?
With all the cash that HD Supply Holdings Inc. is about to collect in exchange for its Construction & Industrial – White Cap division, it’s no wonder that one of the burning questions for the Atlanta-based company revolves around with whom and when will the company replace its latest portfolio departure. After all, $2.5 billion […]
NAW Appoints Eric Hoplin as CEO
The National Association of Wholesaler-Distributors (NAW) on Wednesday announced the appointment of Eric Hoplin as CEO, effective Oct. 19. NAW said in February that current CEO Dirk Van Dongen would retire after a 41-year tenure leading the organization. “Throughout the pandemic and recession, wholesaler-distributors have kept America’s supply-chain running, ensuring businesses have the goods they […]
DSG Appoints Plumbing Corporate Segment Manager
Dakota Supply Group (DSG), Fargo, North Dakota, on Wednesday announced that Scott Ausnes has joined the company as corporate segment manager of its plumbing business based out of DSG’s Plymouth, Minnesota, location. Ausnes, pictured right, will be responsible for the growth and development of DSG’s plumbing business across its entire footprint and work directly with […]
HD Supply’s Second Quarter Sales Down 4.4%
HD Supply Holdings Inc. (NASDAQ: HDS), Atlanta, Georgia, reported sales of $1.6 billion for the second quarter of fiscal 2020 ended Aug. 2, a 4.4% decrease compared to the second quarter of fiscal 2019. Net income decreased 3% to $131 million in the period. Construction and industrial, aka White Cap, sales decreased 0.3% to $793 million during the quarter. […]
‘Stable Fastener Sales’ in August Bodes Well for Fastenal
If “slow and steady” indeed wins the race, Fastenal Co. has found the right pace for navigating the nation’s ongoing coronavirus crisis. Winona, Minneosta-based Fastenal (Nasdaq: FAST) reported August sales of $465.2 million, down 2.2% over the year-ago period, but the fasteners and industrial distributor notched another month of righting its sales mix after an […]
Royal Supply President Launches New Bearings Distributor
Don Chargin, president of Royal Supply Co., on Tuesday announced the creation of his new bearings distribution company, Specialty Bearings. Specialty Bearings will distribute bearings and services to all industry segments, including original equipment manufacturers (OEM) and maintenance, repair and overhaul (MRO) markets. Specialty Bearings was created out of the need to provide customers with […]
Fastenal’s August Sales Down 2.2%
Fastenal Co. (Nasdaq: FAST), Winona, Minnesota, reported August sales of $465.2 million, down 2.2% over the year-ago period. The company reported daily sales of $22.2 million, up 2.5% versus a year ago. By region, U.S. sales grew 1.9% in July. By end market, manufacturing sales decreased 5% while non-residential construction sales decreased 13.5%, the company said. […]
NetPlus Transitions Annual Meeting to a Virtual Event
NetPlus Alliance, the Lockport, New York-based North American industrial and contractor supplies buying group, announced Tuesday it will move to a virtual 2020 annual meeting. “2020 will mark the first time in seven years that NetPlus has not held an in-person annual Meeting, however our goal to bring NetPlus distributors and suppliers together for mutual […]
MSC Industrial Supply Appoints New Director
The board of directors of MSC Industrial Supply Co. (NYSE: MSM), a Melville, New York-based MRO distributor, on Tuesday appointed Rudina Seseri to serve as a director, effective immediately. Seseri is the founder and managing partner of Glasswing Ventures, an early stage venture capital firm dedicated to investing in the next generation of artificial intelligence-powered technology companies. She […]
Goods and Services Deficit Up in July
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced Thursday that the goods and services deficit was $63.6 billion in July, up $10.1 billion from $53.5 billion in June, revised. Exports and imports increased in July but remained below pre-pandemic levels, reflecting the ongoing impact of COVID-19, as many businesses continued to operate at […]
IRCG Pandemic Revenue Index Up 2.6%
Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Aug. 24 to Aug. 28 indicated a 2.6% increase compared with the same week a year ago. This is the third straight week that the index has posted a gain. Five of the index participants saw a sales gain versus the […]
Foundation Building Materials Acquires Marriott Drywall Materials
Foundation Building Materials Inc. (NYSE: FBM), Santa Ana, California, announced that it has closed the acquisition of Marriott Drywall Materials Inc., an independent distributor of drywall and accessories, steel framing, insulation, tools and fasteners that has served the Greater Milwaukee, Wisconsin, area for 22 years. Financial terms of the transaction were not disclosed. “The addition […]
Brady Acquires Maryland Distributor Fitch Co.
Brady Industries, a Las Vegas-based full-line janitorial supply, equipment and foodservice distributor, on Wednesday announced the acquisition of Fitch Co., a Baltimore, Maryland-based distributor. Financial terms of the deal weren’t disclosed. Fitch Co.’s history dates back to 1898 serving the Mid-Atlantic region. In the mid-1980’s Lynne and Raymond Kirsner took ownership of the company and continued […]
