MSC August sales fall 9.7 percent
MSC Industrial Supply reported total net sales for the month of August declined 9.7 percent to $240.3 million.
"Overall, fiscal August average daily sales improved slightly in comparison to fiscal July, reflecting continued month-over-month improvement in manufacturing activity," according to a company statement. Average daily sales of non-safety and non-janitorial products also improved sequentially from fiscal July, while average daily sales of safety and janitorial products remained stable month-over-month. On a year-over-year basis, fiscal August average daily sales of non-safety and non-janitorial lines declined in the mid-teens, while average daily sales of safety and janitorial lines grew in the twenty percent range.
MSC also released preliminary, unaudited results for the fourth quarter and full year. Net sales for the fiscal 2020 fourth quarter were $747.7 million, a decrease of 12.7 percent compared to the same period in the prior fiscal year. Net sales for the fiscal year ended August 29 were $3.2 billion, a decrease of 5.1 percent compared to the prior fiscal year.
"These results reflect the continuing impact of COVID-19 and significant year-over-year declines in manufacturing activity. The company's gross margins are performing roughly as expected, inclusive of the seasonal contraction typical of the fiscal fourth quarter," MSC said.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
