Although sales decreased, the full-year gross margin increased by 70 basis points compared to the previous year, reaching 41.2%.
The company’s 3Q results showed stronger unit sales and digital growth, despite slight decreases in gross and operating margins.
Year-over-year sales and profit continued to slide at Motion, reflecting challenges in the industrial sector.
The second of this three-part series examines the HVACR distributor’s decade-transformation of its digital commerce offering, which the company says is still in the early stages of organizational adoption.
Following statements from Orgill and the Hardlines Distribution Alliance, Do it Best reassured True Value retailers of its commitment to stability and support.
U.S. cutting tool consumption hit $209.3 million in August 2024 amid ongoing market challenges and uncertainty for 2025.
The hardlines wholesaler pledged to support True Value retailers and cited hundreds of them who converted to Orgill in the past several years.
It would join United Hardware as another major acquisition for Do it Best this year.
The company enhanced its distribution network in the industrial and specialty gases sector with acquisitions in July, September and October.
Get a complete breakdown of the distributor’s September and 3Q financials, which point to a demand uptick for the industrial supply sector.
They’ll be the 10th and 11th deals in 2024 for the infrastructure and industrial supplies distributor.
A company memo says the policy will help corporate staff understand the challenges and opportunities that store workers face every day.
