ID contributing editor Jack Keough discusses Fastenal's 2014 – in which it closed 52 stores and opened 24 – as well as the factors that impacted revenue last year and will continue to going forward.
Coming off its biggest acquisition in company history last year, Kaman Industrial Technologies...
After a solid third quarter of growth, Airgas executive chairman Peter McCausland and CEO...
The word "customer," when describing the...
Jack Keough discusses the trends of what made companies rise or fall on our annual list of the top 50 industrial distributors by revenue.
How do we get entry-level students from high school to become interested and find out more about industrial distribution? The Industrial Careers Pathway program is helping to fill that void.
The case of a Northeast grocery chain will be studied for years as to how a family-owned company valued at some $3 billion can almost go out of business because of poor communication, a new management team considered greedy by employees, and an ousted CEO who was loved by his workers.
A new survey shows that manufacturers are being challenged in their ability to manage storerooms for their MRO/indirect supplies.
NTN Bearing has announced the results of a joint raid that it participated in with the Naval Criminal Investigative Service.
It was less than 18 months ago that MSC Industrial Direct made one of the biggest acquisitions in its history, acquiring Barnes Distribution North America (BDNA). Now MSC is re-branding BDNA to integrate the company, while still retaining its own identity.
The decision was reached after company executives discussed whether to consolidate some businesses into fewer locations in some markets and identify where more stores should be opened as local market conditions dictate.
Distribution could be in the midst of a consolidation phase. Industrial Distribution’s latest Annual Survey of Distributor Operations, for example, shows that 25 percent of industrial distributors would be agreeable to accepting a buy-out offer, up from 19 percent last year.
Jack Keough takes a closer look at employee theft - and asks if you have any checks and balances in place to avoid it.
Distributors that establish a proper e-commerce site could see big benefits, according to a study by TNS, a global marketing research company, in conjunction with UPS.
HD Supply is in the midst of rebranding to unify its business units under the HD Supply brand with new logos and business unit names, CEO Joe DeAngelo said in a conference call with financial analysts.
Over the years both as a business editor and editor of Industrial Distribution, I’ve interviewed hundreds of business owners and not one of them ever said they regretted their decision to start their own business.
If you were to ask someone to describe their perception of a robot, they might think of Robbie the Robot, the fictional figure that appeared in the 1956 B-movie, The Forbidden Planet. Robbie was a fictional 7-foot tall robot that walked on mechanical legs.
Eaton says that in the second quarter it will be restructuring its industrial segment, which could mean the loss of an unspecified amount of jobs. The industrial sector includes hydraulics, vehicle, and aerospace units.
Motion Industries had a challenging 2013 as it ended the year down 0.5%, but company executives reported last week that sales rebounded 4% in the first quarter despite the cold and stormy weather. GPC now expects industrial sales to increase 5 to 7% this year.
Jack Keough weighs in on MSC Industrial Direct's second quarter earnings, including MSC's President and CEO Erik Gershwind's comments to financial analysts that manufacturing, particularly the metalworking sector, has “improved considerably” from what had been occurring during the past 18 months.
It’s a waste of time for many companies to hire a manager who isn’t cut out for the job or try to adapt them to the role without proper mentoring and training.
The sale could fetch up to $4.5 billion. The segment has previously accounted for some $1.1 billion of Hertz revenues.
According to Jack Keough, the Kaman Distribution Group is well on its way to becoming of the largest distributors for Parker Hannifin. In addition to B.W. Rogers, Kaman has acquired several Parker distributors in the past few years.
When I walk into the restaurant, I’m always greeted with a warm good morning, my coffee is poured, and my order quickly entered. The food is good, the service is excellent, but its price is higher than the “new” diner located only a few streets away. Yet I choose to go to “my” restaurant, primarily because of the relationships I have developed.
Motion Industries, one of the largest industrial distributors in the country, faced a challenging year in 2013 with sales dropping slightly in each of the first three quarters. However, sales increased 3% in the final quarter, encouraging company executives to be optimistic for 2014.
Jack Keough: My friendship with John went back more than 20 years ago when we met at the annual convention of the National Association of Wholesaler-Distributors. We ended up working together on several projects.
As quarterly earnings reports roll in for publicly-traded companies, it is apparent that the last quarter was not a great one for many industrial distributors despite the rise in sales. Yet many distributors say they’re optimistic about 2014 and expect a number of sectors to rebound, including non-residential construction, petrochemical, and oil and gas.
Fastenal had warned in December that its sales and margins were deteriorating, and instead of improving as company officials had expected, the trend went in the opposite direction, causing the company’s stock to drop sharply after it reported fourth quarter earnings.
Manufacturing rebounded in 2013 and forecasters are predicting that 2014 could be another good one for the sector. In fact, manufacturing has grown for seven consecutive months, according to government reports.
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