Friday, July 25, 2008

Not all Doom and Gloom Continued

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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