Eric Smith

Led by some moderation in the growth of production- and employment-related indicators, the Chicago Fed National Activity Index (CFNAI) declined to +1.18 in July from +5.33 in June. Three of the four broad categories of indicators used to construct the index made positive contributions in July, but all four categories decreased from June. The index’s […]

Good news came to wholesale distribution in the form of some upbeat economic reports during the first few weeks of August. But while this latest round of green shoots might be welcome, there is still a tough road to recovery for many companies and the industry as a whole. Let’s look at some of the […]

Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Aug. 9 to Aug. 14 indicated a 0.5% increase compared with the same week a year ago. IRCG’s distributor Pandemic Revenue Index gives distributors a weekly quantified view into how other distributors in the industry are faring as the global COVID-19 […]

Alibaba Group Holding Ltd., (NYSE: BABA and HKEX: 9988), Hangzhou, China, on Thursday reported revenue for the second quarter of RMB153.8 billion (US$21.8 billion), an increase of 34% year-over-year. Profit was RMB46.4 billion (US$6.6 billion). Non-GAAP net income was RMB39.5 billion (US$5.6 billion), an increase of 28% year-over-year. “Alibaba delivered excellent results this past quarter. […]

Nichols Paper & Supply Co., Norton Shores, Michigan, on Thursday announced the appointment of Jason Olthoff as vice president of business development and new markets. Olthoff, who joined Nichols on August 10, reports to Kevin Rahrig, COO. Olthoff (pictured right) spent 11 years at MKTG Inc., a brand marketing agency, which is part of the […]

Privately owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,495,000. This is 18.8% above the revised June rate of 1,258,000 and is 9.4% above the July 2019 rate of 1,366,000. Single-family authorizations in July were at a rate of 983,000; this is 17.0 percent (±1.2 percent) above […]

Myriad challenges have emerged across distribution in recent years, including how to compete with Amazon, how to meet evolving customer expectations and how to pivot to digital capabilities in today’s rapidly changing business landscape.  But with the coronavirus crisis ravaging the U.S. economy over the last six months, those problems have hit distributors harder than ever before. And they all hit simultaneously.  “What’s happened in […]

Lowe’s Cos. Inc. (NYSE: LOW), Mooresville, North Carolina, on Wednesday reported revenue for the second quarter of $27.3 billion, up 30% from the year-ago quarter. Comparable sales increased 34.2%, and comparable sales for the U.S. home improvement business increased 35.1% for the second quarter. The company reported profit of $2.8 billion and diluted earnings per share (EPS) of $3.74 for the […]

Kaman Distribution Group, Bloomfield, Connecticut, a distributor of bearings, power transmission, automation and fluid power products, has announced the appointment of Kevin Glorio as vice president of corporate accounts for the Kaman Industrial Technologies business unit. Glorio has more than 26 years of industrial distribution and manufacturing experience. Previous to joining Kaman Industrial Technologies, Glorio […]

Amazon (NASDAQ: AMZN), Seattle, Washington, on Tuesday announced plans to create 3,500 new tech and corporate jobs at its tech hubs in Dallas, Detroit, Denver, New York (Manhattan), Phoenix and San Diego. The company will invest more than $1.4 billion in these new offices, which will host teams supporting businesses across the company. Amazon’s tech […]

Core & Main LP, St. Louis, Missouri, a distributor of water, sewer and fire protection products, said Tuesday that it has closed on its previously announced agreement to acquire Water Works Supply Co., a New Jersey-based waterworks distributor. Financial terms of the deal weren’t disclosed. The acquisition marks Core & Main’s 11th transaction since becoming an […]

Building material distributor BlueLinx Holdings Inc. (NYSE: BXC), Marietta, Georgia, on Monday announced that it has completed a sale-leaseback transaction for its owned distribution facility in Denver, Colorado, for $10.6 million. The transaction closed on Aug. 14, and as a part of the transaction, the company entered into a lease agreement for the property with […]

Total industrial production rose 3.0% in July after increasing 5.7% in June, according to the Industrial Production and Capacity Utilization Report, released Friday by the Federal Reserve. Even so, the index in July was 8.4% below its pre-pandemic February level. Manufacturing output continued to improve in July, rising 3.4%. Most major industries posted increases, though […]

Northbrook, Illinois-based trade association ISSA announced Friday that its ISSA Show North America will move to a fully virtual event over the same dates, Nov. 16-19. “ISSA Show North America will remain the primary event to network, learn best practices, and discover new products and solutions for the commercial, institutional, and residential cleaning industry,” the association […]

The U.S. Census Bureau announced Friday that the combined value of distributive trade sales and manufacturers’ shipments for June — adjusted for seasonal and trading day differences but not for price changes — was estimated at $1.4 trillion, up 8.4 percent (±0.3 percent) from May 2020 but down 4.3 percent (±0.4 percent) from June 2019. […]

The North American Building Material Distribution Association (NBMDA), Chicago, Illinois, this week released the results of the NBMDA Quarterly Sales Trend Survey for the second quarter of 2020. The research and benchmarking tool collects data from industry distributors on sales results from the prior quarter along with forecasts for the upcoming quarter. Profitability trends are […]

Lowe’s Cos. Inc. (NYSE: LOW), Mooresville, North Carolina, this week announced a host of supply chain transformation initiatives to improve home delivery and support growing demand from DIY and Pro customers. Over the next 18 months, the company said it plans to open 50 cross dock delivery terminals, seven bulk distribution centers and four e-commerce […]

Heritage Landscape Supply Group Inc., McKinney, Texas, a wholly owned subsidiary of SRS Distribution Inc., on Friday announced it has added another asset to its portfolio with the acquisition of Boise, Idaho-based Silver Creek Supply. Financial terms of the deal weren’t disclosed. Silver Creek Supply is an independent distributor of irrigation, outdoor lighting, plumbing, fencing, […]

It’s a “new era” at WESCO International Inc. That’s how John Engel described the mindset at the Pittsburgh, Pennsylvania-based distributor where he serves as chairman, president and CEO. And the company he leads is indeed sporting a nifty new look. After acquiring Anixter International Inc. for $4.5 billion (the deal closed in June), WESCO now […]

It’s a “new era” at WESCO International Inc.  That’s how John Engel described the mindset at the Pittsburgh, Pennsylvania-based distributor where he serves as chairman, president and CEO. And the company he leads is indeed sporting a nifty new look.  After acquiring Anixter International Inc. for $4.5 billion (the deal closed in June), WESCO now boasts […]