Company leaders who do not understand the nuances of modern sales force effectiveness can inadvertently hinder the success of their organization. At a minimum, this lack of awareness results in less-than optimized results. In a worst-case scenario, it can cripple the effectiveness of a sales force.   After almost five years working in the wholesale distribution sector, despite much discussion at conferences about industry disruption and the need for sales transformation, I still see many companies working in what I call “the sales prevention business.” Meaning that there is tremendo ..read more

Core & Main, Inc. (NYSE: CNM), St. Louis, Mo., a specialized distributor with a focus on water, wastewater, storm drainage and fire protection products, announced sales for its fiscal 2023 first quarter were $1.57 billion, down 1.5% from the prior-year period. Don’t miss any content from Distribution Strategy Group. Join our list. Net income for the quarter was $133 million, down 2.9% from the prior-year period. “First-quarter net sales finished in line with our expectations, reflecting a return to more typical seasonality for the first quarter,” said Steve LeClair, CEO of Core & Main ..read more

Fastenal Company (NASDAQ: FAST) reported its May 2023 sales were $649.1 million, up 10.2% from the prior-year period. Don’t miss any content from Distribution Strategy Group. Join our list. Daily sales in the U.S. rose by 4%, while sales in Canada and Mexico rose grew by 14%. Sales in other global regions decreased by 1.7%. Manufacturing end-market sales rose 9.7%, while nonresidential construction fell 9.5%. Fasteners daily sales growth was down 0.6%; safety sales were up 6.8%. National accounts sales were up 9% on a daily basis, while non-national were unchanged.   The post Fastenal May ..read more

Motion & Control Enterprises (MCE), Zelienople, Pa., a supplier of technical fluid power, automation, flow, control, compressed air and lubrication products, repair and services and bespoke solutions, has acquired two companies: Power & Pumps, Inc., and Industrial Control Services, Inc. Don’t miss any content from Distribution Strategy Group. Join our list. Power & Pumps, headquartered in Jacksonville, Fla., distributes pumps, drives, blowers, vacuum and power transmission products to municipal and industrial customers across Florida and Georgia. Power & Pump distributes All Pr ..read more

Join us on June 7 for “Practical Post-Pandemic Pricing for Profit.” Or register to watch on-demand after the event.  Many experts and software companies offer to help distributors improve profitability. Those resources can be very helpful, but distributors should always take these basic principles into account when formulating their pricing strategies.  Margin Criticality   Gross margin is the single most impactful driver of profit. For example, a 2% improvement in gross margin would drive higher profit than a commensurate improvement in either sales or expenses.  Howe ..read more

The Institute for Supply Management reported that the Manufacturing Purchasing Managers Index declined to 46.9% in May, lower than the 47.1% recorded in April. This is the sixth consecutive month of contraction for the Manufacturing PMI following a 30-month period of expansion. Don’t miss any content from Distribution Strategy Group. Join our list. Here’s the breakdown of the May PMI: New Orders Index: 42.6%, a 3.1 percentage point decrease month-over-month Production Index: 51.1%, a 2.2 percentage point increase month-over-month Prices Index: 44.2%, a 9 percentage point decrease month-over-m ..read more

Sonepar, Charleston, S.C., a distributor of electrical, industrial and safety products, services and solutions, reported that its U.S. subsidiary, Cooper Electric, has acquired Billows Electric Supply. Don’t miss any content from Distribution Strategy Group. Join our list. Billows Electric Supply, headquartered in Delran, N.J., provides customers with electrical products and services in the Philadelphia, South Jersey and Wilmington markets. Billows Electric adds 19 branch locations and over 285 employees to Sonepar. “The addition of Billows Electric Supply will increase our coverage and densit ..read more

Total construction spending in April 2023 was up 1.2% from the revised March estimate, according to the U.S. Census Bureau. Spending in April was up 7.2% from the prior-year period. Spending in the first four months of 2023 was $566.7 billion, up 6.1% from the prior-year period. Don’t miss any content from Distribution Strategy Group. Join our list. Private construction spending was up 1.3% from March. Residential construction was up 0.5% from March. Nonresidential construction was 2.4% above March. The estimated seasonally adjus ..read more

Parts Town Unlimited, Addison, Ill., a distributor of OEM foodservice equipment parts, residential appliance parts, HVAC parts, consumer electronic parts and related parts, reported 20% organic growth in its fiscal 2023 first quarter. Don’t miss any content from Distribution Strategy Group. Join our list. Parts Town expects to reach $2.4 billion in sales in 2023, compared with $1.8 billion in 2022. “We have further amped up our ambition and investment in talent and technology in recent years,” said Steve Snower, CEO of Parts Town Unlimited. “We see an opportunity to innovate across several mis ..read more

Independent Electric Supply, Billerica, Mass., a distributor of products and services to the construction, industrial, commercial and municipalities industries, announced the changing of leadership. Don’t miss any content from Distribution Strategy Group. Join our list. Bob Trolander has been named the Senior Vice President of Sales and Marketing. Trolander joined the company in 2016 as the Vice President of Sales and has most recently served as the Vice President of Marketing and Business Development. Jeff Cronin has been named the Senior Vice President of Operations and Purchasing and a memb ..read more