Metalworking and MRO products distributor MSC Industrial Supply reported its July sales figures on Tuesday, showing that increased demand for the company's safety and janitorial products weren't nearly enough to offset considerable weakness in its core product lines.
MSC's July sales totaled $233 million, down 12.6 percent year-over-year (YoY) overall and on a daily basis. The company's combined June and July sales of $507.5 million were down 14.0 percent.
The Melville, NY-based company — No. 8 on Industrial Distribution's 2019 Big 50 List — said that July sales of non-safety and non-janitorial products continued to see significant YoY declines due to COVID-19 impacts and major declines in manufacturing activity, while sales of safety and janitorial lines remained positive for July in the double-digit growth range.
"In particular, industrial customers with exposure to end markets such as aerospace, automotive and heavy equipment were extremely soft," MSC said Tuesday, adding that the company's gross margins are performing as expected, inclusive of the seasonal contraction typical of the company's fiscal fourth quarter.
MSC shared its 2020 third quarter results back on July 8, showing that Q3 sales — covering March through May — of $835 million were down 3.6 YoY.
