Bad start for WESCO
Wesco International Inc. (Pittsburgh/USA), one of the five largest electrical wholesalers in North America, could only manage to increase............
its turnover by 0.3% in the 1st quarter 2015 to USD 1,816.3 m (EUR 1,629.3 m), while net profits fell by 9.4% against the comparable period of last year to USD 47 m (EUR 42.2 m).
Already at the beginning of the year the annual turnover target had been slightly reduced to minus 3% to plus 3% due to bad weather conditions and currency fluctuations, since a drop in demand on the industrial end markets was expected for the year as a whole.
The company now plans to take countermeasures by means of additional actions to accelerate their One WESCO sales initiatives, reduction of structural costs, consolidation of branches with personnel increases and better treatment of areas badly served until now and neglected customers.