NORTH AMERICAN NEWS Report finds sales
growth slows in April The Fastener Distributor Index (FDI) dipped slightly in April, coming in at 53.8 compared to 55.9 the prior month.
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ales, which had been the strongest component for fastener distributors in March, slipped to 55.1 from 69.4 the previous month, suggesting “more tepid growth to begin Q2 2012.”
Other factors, such as slower supplier deliveries and low
customer inventories, support a “still healthy view” of sales activity, according to the FDI. “Why April was not so robust is hard to say.” The FDI noted that: “A reading of 53-55 still constitutes
sequential growth” for North American fastener distributors. For the first three months of 2012, the index averaged 56.4. Just over 61% of respondents expect activity to be “higher” in
six months, while 10.3% predicted “lower” sales. “This is a good reading, but one cannot ignore that the spread has narrowed over
the last months. Respondents feel good about things, but not as good as they did to start the year.” In March more than 66% of respondents expected activity to be “higher” in six months while just 5.6% said “lower.” Year-to-year, point-of-sale pricing is up (48.7% of
respondents) or “flattish” (43.6%); the rate of change slowed to 2.5% to 3% from 3.2% to 3.7% the previous month, the FDI found. The FDI is a monthly survey of North American fastener
distributors that aims to provide insight into current trends/ outlooks. As a diffusion index, readings above 50 signify strength and below 50 weakness. The FDI is a joint production of BB&T Capital Markets and the FCH Sourcing Network, the online network for industrial fasteners.
NFDA names Vickie Lester
as executive director The National Fastener Distributors Association’s board of directors voted unanimously to retain Vickie Lester of Lester Management Services to serve as executive director.
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he NFDA said transition of the group’s office from Chicago to Los Alamitos, CA, will occur in the next few months. “NFDA has received high-quality, professional services since 2007,” said 2011-12 president Matt Ulrich. “However, the NFDA board believes it is time to head in a different strategy direction, and we feel Vickie Lester’s background and abilities will help us achieve our vision.”
Lester started her management company in 1986, with the Western Association of Fastener Distributors as her first
client. Later that year she added the Los Angeles Fastener Association. In 2009 those two associations combined to become the Pacific-West Fastener Association. In addition to Pac-West and its Fastener Training Institute, Lester and her team provide services for organizations throughout Los Angeles. Jay Queenin stated: “As the new executive director of NFDA, Vickie will assist the board in providing our members
with exciting new professional development opportunities, networking experiences and a national policy voice.” He added: “In addition we believe that Vickie is uniquely positioned in the fastener industry to advance the NFDA’s strategic vision of coordinating more closely with other fastener associations.”
Grainger posts record
results in all segments Grainger reported record results for the opening quarter of 2012, with sales climbing 16% to US$2.2 billion (1.7 billion euros). Q1 net earnings grew 19% to US$188 million (144 million euros), while earnings per share increased 18% to US$2.57.
EO Jim Ryan stated: “We continued to aggressively invest in growing the business through product line expansion, sales force expansion, eCommerce, inventory management services and international expansion.” Sales in the U.S. rose 11% to US$1.7 billion (1.3 billion euros), including 9% volume growth and three percentage points from price, offset by a one percentage point drag from lower sales of seasonal products due to the unusually
warm weather. Quarterly operating earnings jumped 17% to US$298.9 million (229 million euros), driven by strong sales and “positive expense leverage.” Gross profit margins increased 10 basis points. “All customer end markets in the United States posted sales growth versus the 2011 first quarter, led by a strong increase in heavy manufacturing and natural resources,” Grainger stated.
Fastener + Fixing Magazine • Issue 75 May 2012
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