Not all Doom and Gloom Continued

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Distributors around the country are reporting mixed results. Before convincing yourself the whole industry is tracking downward, you should check the latest results of a few of the big boys. Motion Industries just reports a 7% sales gain. Grainger 10% sales gain.
I invite my readers to take the recession proof pledge.

"I promise to make sure my competitors have a recession - not me"


Motion Industries Sales Up 7% in 2Q
Genuine Parts Company, Atlanta, GA, reported sales of $2.87 billion for the second quarter ended June 30, 2008, up 4% from the prior-year period. Profit for the quarter was $133.1 million, up 2%.EIS, the Electrical Group, recorded sales growth of 11% for the quarter. Motion Industries saw a sales jump of 7%. And the Automotive Group reported a 2% sales increase. S.P. Richards, the Office Products Group, reported flat sales relative to the second quarter last year.For the first six months, sales were $5.61 billion, up 4% from the same period in 2007. Profit was $256.6 million, an increase of 2%.

Grainger sees 10% sales growth amid slowing economy
NAW SmartBrief 07/18/2008
Second-quarter profit for Chicago-based W.W. Grainger rose 8% from the year-ago period from $105 million to $113 million, buoyed by a 10% growth in sales in that span. "We are making market share gains in a slowing economy," President-CEO James T. Ryan said. Daily Herald (Chicago) (07/16) Modern Distribution Management (07/15)

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