A decrease in BlueLinx’s 4Q23 sales reflects a decline in specialty and structural product sales, primarily driven by price deflation.
In 2023, the distributor paid down $160 million of debt and reduced inventory by $100 million while maintaining fill rates above 94%.
CEO Ted Decker noted that 2023 was “a year of moderation” for the DIY and contractor supply retail giant.
North American full-year sales reached nearly $8.9 billion for a 4.0% annual gain. See our in-depth breakdown of Rexel’s financials.
The restructuring includes a voluntary retirement offer and “rationalization and optimization” of certain DCs, stores and other facilities.
Overall 4Q and full year profit spiked on a deferred tax benefit, while sales continued low single-digit annual growth.
Meanwhile, gross margin at Resideo’s manufacturing business unit saw solid improvement during 4Q23.
Watsco’s 2023 follows two years of record-setting performances and faces softer comparative market conditions.
While 4Q volume fell in certain verticals, Wesco said it saw growth in industrial, utility, data center and network infrastructure.
The company saw a sharp deceleration in daily sales, hampered by weather impacts during the month.
The figures reflected a broader industrial supply demand slowdown, though Grainger’s 4Q growth deceleration was less than most public firms that have reported so far. Get our full breakdown here.
SBD’s Tools & Outdoor segment drove the overall margin improvement, as Industrial dipped slightly.
