Global Industrial sales up by 12.6 percent
Global Industrial Company said its second-quarter consolidated sales increased 12.6 percent to $272.6 million compared to $242.1 million last year.
Net income of $22 million, or 57 cents per diluted share, compared to $16.4 million, or 43 cents, in the same period last year.
"Customer demand was healthy throughout the quarter, with solid performance across core categories, and within Global Industrial branded products. We were very pleased with profitability as we delivered gross margin gains on both a year over year and sequential basis, reflecting continued execution on our Accelerating the Customer Experience ("ACE") strategy, completion of the transition to a new third party logistic partner and proactive efforts to mitigate supply chain pressures which remain elevated," said Barry Litwin, chief executive officer.
For the first six months of 2021, sales increased 11.6 percent to $523.7 million compared to $469.4 million last year.
INDUSTRIAL SUPPLY MAGAZINE
The November/December issue of Industrial Supply magazine features an in-depth cover story about Kimball Midwest. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Mike Marks, as well as interviews with numerous product and distribution industry experts.
