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MSC’s Sales Dip 1.5% in Fiscal 2Q

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https://www.mdm.com/news/operations/mscs-sales-dip-1-5-in-fiscal-2q/?utm_source=rss&utm_medium=rss&utm_campaign=mscs-sales-dip-1-5-in-fiscal-2q

Industrial distributor MSC Industrial Supply Co. (NYSE: MSM), Melville, New York, reported sales of $774 million for its fiscal second quarter, a 1.5% decrease compared to the year-ago period. Quarterly profit was $18.1 million, a 67.4z% decrease compared with the second quarter last year.

For the first six months the company reported sales of $1.5 billion, down 4% over the same period in 2020. Profit fell 53.2% to $56.5 million.

“Our fiscal second quarter reflected solid execution in a choppy, but improving environment,” said Erik Gershwind, president and CEO at MSC. “Improvement in sales levels of our non-safety and non-janitorial product lines continued through the quarter and turned positive in March. Sales of our safety and janitorial products grew in the mid-teens. Execution of our Mission Critical initiatives was solid, and I am pleased with the progress that we are making with our share capture programs.”

The post MSC’s Sales Dip 1.5% in Fiscal 2Q appeared first on Modern Distribution Management.

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