W.W. Grainger of Lake Forest/Illinois, one of North America's leading wholesalers...
W.W. Grainger of Lake Forest/Illinois, one of North America's leading wholesalers, reported sales of 3.0 bn USD (2.54 bn USD) for the third quarter of 2020, an increase of 2.4% over the comparable quarter of last year. This increase was mainly due to higher volumes of products related to the Corona Pandemic. Net earnings increased by 3% from 233 m USD (197 m EUR) to USD 240 m (203 m EUR).
ETIM announced that IMARK has joined ETIM NA...
ETIM announced that IMARK has joined ETIM NA to improve and advance product classification in North America.
IMARK consists of more than 1,400 independent wholesalers in the United States and Canada with more than 7,000 locations.
Today the group consists of IMARK Electrical and IMARK Plumbing, and through the merger in January 2019 in the plumbing and air conditioning sector with Omni Corporate Services and Equity Plumbing, is the most influential organization in the electrical, air conditioning and plumbing sector.
IMARK is led by its President John Aykroyd and the members of the group have an annual turnover of over 28 bn USD (24 bn EUR).
IMARK is a member of the international marketing association IMELCO.
The Spanish Association of Electrical Manufacturers AFME...
The Spanish Association of Electrical Manufacturers AFME expects a decline in 2020 annual sales of around 15%, with the last few months in particular going very well, which has had a slightly positive effect on the result. In Spain, too, it will be important to return to a certain recover next year, with tourism playing an important role.
Solar from Denmark, the leading wholesaler in the Scandinavian region...
Solar from Denmark, the leading wholesaler in the Scandinavian region has revised its forecast for 2020. Earnings (EBITA) are now expected to increase by around 9% to DKK 435 million (EUR 58.4 million) with a slight decrease in sales of around 1% to DKK 11,300 million (EUR 1,518 million). The third quarter of 2020 was already promising, and the Better Business project that was started at the beginning of the year certainly helped a lot and led to the revised assumption.
The prerequisite is, of course, that the resurgence of COVID-19 does not lead to new significant lockdowns in their markets.
Chint Electrics, SL has hired a new sales director...
Chint Electrics, SL has hired a new sales director, Jorge Esteban, who will be responsible for the entire Iberian Peninsula and reports to the managing director Leon Li. Established in 1984, Chint is headquartered in Yueqing and employs more than 30,000 people. Worldwide sales are over 9 bn EUR
Lowe's from Mooresville / NC, the second largest home improvement retailer in the US...
Lowe's from Mooresville / NC, the second largest home improvement retailer in the US after Home Depot, was able to increase its sales in the second quarter (May-July 2020) by over 30% from USD 21.0 bn. (EUR 17.8 bn.) to USD 27.3 bn. (EUR 23.1 bn.).
Net earnings even increased by 69% from USD 1.68 bn. (EUR 1.42 bn.) to USD 2.83 bn. (EUR 2.39 bn.).
At the beginning of August, Lowe's also announced that it would install tool rental departments nationwide in all of its branches, where e.g. professionals and do-it-yourselfers can rent branded products such as Husqvarna, Bosch and Metabo, to complete their projects. The first opening was in Lowe’s branch in Charlotte/ NC on August 20th.
Paul Sebastian Schwenk will take over the position of CEO...
Paul Sebastian Schwenk will take over the position of CEO from September 1st. Paul Schwenk, a great-grandson of the company's founder, has been a member of the board since 2016 being responsible for Human Resources, Marketing, Business Development and Finance.
The management duo Schwenk and Thomas Sell, who has headed the sales department as a member of the Management Board since 2013, will become an executive trio on September 1 through the new engagement of Michael Matthesius. As the new Technical Manager, Mr. Matthesius, will now be responsible for the technical side of Theben in the future. He comes from the Harting Group and gained experience, among other things at Weidmüller Interface and was a member of the VDMA advisory board for many years.
Fagerhult had to cope with a 16% drop in sales in Q2 2020...
Fagerhult had to cope with a 16% drop in sales in Q2 2020 from SEK 2,055 m (EUR 198 m) to SEK 1,726 m (EUR 167 m). The operating result was SEK 153.6 m (EUR 14.8 m), a decrease of 12.1%.
The managing director Ms. Bodil Sonesson announced that the second competence center started operation in Linköping / Sweden in August.