MRO and metalworking supplies distributor MSC Industrial Supply reported double-digit sales growth for the fifth consecutive quarter.
The company announced net sales of $1 billion in the third quarter of fiscal 2023, which ended May 31.
The NetPlus Alliance Industry Outlook tracks business results and trends in the industrial and contractor supply markets.
For its full fiscal 2023 year, the company reported net sales of more than $5.3 billion, a 15% increase over fiscal 2023.
The company made the decision based on the recommendation of a special committee composed entirely of independent directors.
UNFI’s net income decreased 89.6% to $7 million, the Providence, Rhode Island-based company said.
Mentions of reshoring were substantially more common in 1Q earnings calls compared to a year earlier. What are the factors driving the hype?
The sales decline was within expectations, according to Ferguson.
Net sales decreased 1.5% over last year, but increased 49.2% compared with the first quarter of fiscal 2021, the company said.
It was the distributor’s weakest daily sales growth month since June 2021.
Known as Wesco Aircraft until 2020, the company looks to right-size its debt amid reduced demand and ongoing litigation.
Lowe’s reports a more positive outlook on Pro customer sales as projects shrink and Pros work through backlogs.
