April 2020 News

Pentair sales increased by 3 percent
Pentair announced that first quarter 2020 sales of $710 million were up 3 percent compared to $688.9 million for the same period last year.

Stanley Black & Decker sales fall 6 percent
Stanley Black & Decker reported that net sales for the first quarter were $3.1 billion, down 6 percent from $3.3 billion in last year's first quarter.

Winsupply names top vendors
Winsupply Inc. has named its Vendors of the Year in their respective product categories.

Lawson Products sales decline .3 percent
Sales for the first quarter of 2020 were essentially flat for Lawson Products, coming in at $91 million, a .3 percent decline from $91.3 million in last year's first quarter.

WESCO International sales remain flat 
WESCO International reported net sales were $2.0 billion for the first quarter of 2020, unchanged from 2019.

Eaton reports 10 percent sales decline
Eaton Corporation plc said its first quarter sales of $4.8 billion were down 10 percent from the first quarter of 2019.

Applied sees 6.2 percent sales decline
Third-quarter net sales for Applied Industrial Technologies decreased 6.2 percent to $830.8 million from $885.4 million in the prior year.

Weekly Pandemic Revenue Index declined 14.8 percent
Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of April 20-24, 2020, indicated a 14.8 percent decline compared with the same week a year ago.

MRC Global posts 18 percent sales decline
First quarter sales for MRC Global were $794 million, an 18 percent decline from $970 million in the first quarter of 2019. 

GDP down 4.8 percent in first quarter
Real gross domestic product (GDP) decreased at an annual rate of 4.8 percent in the first quarter of 2020, according to the advance estimate released by the Bureau of Economic Analysis.

Fasteners Inc. names new president and CEO
Michael Mantis has been named president and CEO of Fasteners Inc./Southwestern Supply based in Las Vegas, internet retailer and Professional Contractors Supply with locations in San Diego, Hayward, and San Francisco, California.

Will the COVID-19 pandemic change factories of the future?
Manufacturing will look strikingly different in the post-pandemic era, says a Purdue University expert in supply chain and manufacturing management.

3M reports 2.7 percent sales gain
Strong growth in personal safety products helped 3M drive a 2.7 percent sales increase in the first quarter. Sales of $8.1 billion compared to $7.9 billion in last year's first quarter.

Rockwell Automation 2Q sales up 1.5 percent
Rockwell Automation said its second quarter sales were $1.6 billion, up 1.5 percent from $1.65 billion in the second quarter of fiscal 2019.

Epicor launches ECC Express
Epicor Software Corporation announced the launch of Epicor Commerce Connect Express (ECC Express), a new portal to its existing Epicor Commerce Connect solution.

Barnes Group sales decline 12 percent
Barnes Group's first quarter 2020 net sales of $331 million were down 12 percent from $377 million in the prior year period, with organic sales declining 8 percent.

Grainger chairman: We will come out stronger than before

by Rich Vurva

While acknowledging that Grainger is navigating a challenging business climate, chairman and CEO DG Macpherson said the company has a strong balance sheet and will survive the COVID-19 pandemic stronger than before.

Weekly Pandemic Revenue Index declines 6.9 percent
Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of April 13-17 indicated a 6.9 percent decline compared with the same week a year ago.

Grainger Q1 sales up 7.2 percent
Driven by sales of pandemic-related PPE items, Grainger reported sales of $3.0 billion in the first quarter, an increase of 7.2 percent from $2.8 billion in the 2019 first quarter.

Fasteners Inc. founder Mantis dies
Longtime industry leader Keith E. Mantis passed away unexpectedly on April 19.

Winsupply names Companies of the Year
Winsupply Inc. has named Odessa Winlectric (Texas), its Company of the Year, for the second straight year.

Monaghan Tooling names regional sales manager
Monaghan Tooling Group announced the promotion of Kelly Burns to regional sales manager for the East, North and Central regions of the U.S.

COVID-19 downturn won't match Great Recession

by Rich Vurva

Economist Alan Beaulieu of ITR Economics predicts that the economic impact of the COVID-19 pandemic won't be as severe as the Great Recession in 2008-2009.

Dentec Safety names VP of sales USA operations
Dentec Safety named Michael Bolden vice president sales for USA operations.

Snap-on sales drop 7.5 percent
Snap-on Incorporated said its net sales of $852.2 million in the first quarter of 2020 compared to $921.7 million in 2019, a decline of 7.5 percent.

Emerson sales decline 9 percent
Emerson reported net sales of $4.2 billion in the second quarter were down 9 percent as demand declined significantly in March due to the rapid spread of COVID-19.

PULSEROLLER names director of business development
PULSEROLLER has appointed Steve Inabnit as the director of business development for the company’s North American operations.

Chicago Fed National Activity Index in recessionary territory
Led by declines in production- and employment-related indicators, the Chicago Fed National Activity Index fell to –4.19 in March from +0.06 in February.

Surviving the COVID-19 cash crunch
In downturns, revenue and cash levels always fall faster than expenses. For most of us, Q2 is going to be tough from a financial performance point of view.

Weekly Pandemic Revenue Index declined 29.36 percent
Indian River Consulting Group’s weekly Pandemic Revenue Index for the work week of April 6-10, 2020, indicated a 29.36% decline compared with the same week a year ago.

February cutting tool orders down 4.2 percent
February 2020 U.S. cutting tool consumption totaled $188.2 million, down 4.2 percent from January's $196.5 million and down 8.5 percent compared with the $205.6 million reported for February 2019.

Beacon names new EVP and CFO
Beacon has named Frank A. Lonegro executive vice president and chief financial officer.

Industrial production plummeted in March
With many factories suspending operations in late March as a result of the COVID-19 pandemic, industrial production fell 5.4 percent for the month.

Kuriyama names new president
Hose manufacturer Kuriyama of America announced executive leadership changes, effective April 8.

3M sues to fight N95 respirator price gouging
3M has filed a legal action in federal court in Florida against an Orlando-based defendant that twice attempted to fraudulently sell tens of millions of likely nonexistent 3M N95 respirators at grossly inflated prices.

Industrial Supply Company renews AS9120 Certification
Industrial Supply Company announced that it has successfully completed its recertification audit for its AS9120 certification for its Salt Lake branch.

Fastenal Q1 sales up 4.4 percent
Fastenal Company reported first-quarter 2020 sales of $1.37 billion, a 4.4 percent improvement over $1.31 billion in the same period last year.

Monaghan Tooling rushes custom ventilator tooling project
Custom tooling requests are not unusual at Monaghan Tooling Group, and each gets special attention.

Total Specialties USA adds to marketing & services division
Total Specialties USA announced four new additions to the Marketing & Services Division Lubricants team at company locations in Texas and New Jersey.

Eaton uses 3D printing to produce face shields for COVID fight
Eaton is using its manufacturing, 3D printing expertise and partner network to fulfill a JobsOhio order for rapid production of 360,000 reusable face shields to strengthen the state’s fight against the COVID-19 virus.

Digital Tips to Reduce the Impact of COVID-19

By Dean Mueller, Partner, Real Results Marketing

The COVID-19 pandemic outbreak is affecting industries across the globe, including distributors. Many of us have thrown our 2020 business plans out the window as we face a new reality.

Anixter stockholders approve merger with WESCO
In a special meeting of Anixter stockholders today, the merger between Anixter and WESCO International was approved by 99.42 percent of the votes cast.

Weekly Pandemic Revenue Index shows 13.6 percent decline
Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the week of March 30-April 3, 2020, indicated a 13.6% decline compared with the same week a year ago.

ISA introduces The Channel

by Rich Vurva, Industrial Supply magazine

The Industrial Supply Association announced a new communications tool called The Channel to keep members abreast of information pertinent to their businesses.

MSC 2Q sales decline 4.5 percent
MSC Industrial Supply reported that its second-quarter sales of $786.1 million declined 4.5 percent from $823 million in the same period last year.

Pandemic wreaks havoc on industrial distributors

By Rich Vurva, Industrial Supply magazine

Distributors report that business plunged by as much as 35 percent since states began issuing stay-at-home orders to combat the coronavirus pandemic.

Barnes Group donates protective masks to local hospitals
Barnes Group Inc. has donated approximately 6,000 protective masks to Connecticut’s healthcare industry in an effort to supply the state’s healthcare professionals with the protection they need to treat patients with the coronavirus.

Industrial Scientific names VP of engineering
Industrial Scientific announced that Saldy Antony has joined the company as vice president of engineering.

3M works with Trump administration to import respirators
3M and the Trump Administration announced a plan on Monday to import 166.5 million respirators over the next three months to support healthcare workers in the United States.

Winsupply acquires May Supply
Winsupply Inc. has acquired assets of May Supply, a wholesale and retail distributor of plumbing and water system materials, and kitchen and bath design and fixtures.

Rotor Clip steps up support for COVID related production
Rotor Clip Company Inc. announced that it is giving its full support to customers that produce medical components or equipment needed to treat or halt the spread of COVID-19.

Trump invokes DPA to boost respirator production
President Donald Trump invoked the Defense Production Act on Thursday to push 3M and six major medical device companies to produce protective masks and ventilators needed for the coronavirus outbreak.

Sales leaders embracing digital tools

by Michelle Richardson

In their bid to keep commerce inching through the sales pipeline during the COVID-19 pandemic, a startling percentage of sales professionals have quickly traded pressing the flesh for meeting by Zoom as the way forward, according to the Brooks Sales Leader survey for the week ending March 27.

Employment falls by 701,000 in March
Total nonfarm payroll employment fell by 701,000 in March, and the unemployment rate rose to 4.4 percent, the U.S. Bureau of Labor Statistics reported today.

DOL issues new paid leave regulations
The U.S. Department of Labor today issued a new regulation, effective immediately, implementing the paid leave provisions of the Emergency Paid Sick Leave Act and Emergency Family and Medical Leave Expansion Act, both part of the Families First Coronavirus Response Act (FFCRA).

Manufactured goods orders decreased in February
New orders for manufactured goods decreased $0.1 billion in February to $497.4 billion, the U.S. Census Bureau reported today.

February construction spending fell by 1.3 percent
Construction spending during February 2020 was estimated at a seasonally adjusted annual rate of $1,366.7 billion, 1.3 percent below the revised January estimate of $1,384.5 billion.

Beacon to draw from credit facility
Beacon announced today that it elected to draw down approximately $725 million from its revolving credit facility.

IRS develops info on tax relief related to coronavirus
The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus.

Fastenal acquires Apex Industrial Technologies assets
According to a recent report, Fastenal has acquired certain assets of Apex Industrial Technologies.

Manufacturing contracted in March
The manufacturing sector contracted in March according to the nation's supply executives in the latest Manufacturing ISM Report On Business.

Associations offer help in time of need

By Rich Vurva

Distributor associations are working to get information to members that will help them make management decisions to get through the current coronavirus situation.

Pandemic causes distributor revenues to decline
Distributor revenues for the week of March 23-27 declined by 23.51 percent compared to the same week in 2019, according to Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index.

The CARES Act - What you need to know now
While distributors within the industrial supply channel are scrambling to adjust to changes in how they do business as a result of the coronavirus pandemic, many are also investigating their options for business loans and other available assistance.