WESCO posts higher sales, net income for Q2 | Profit up despite net sales decline for Builders FirstSource | Systemax to open Dallas-area distribution center
WESCO International reported $2.2 billion in sales and $63.5 million in net income for the second quarter, both up compared with a year earlier. Organic sales also increased.
Builders FirstSource reported lower net sales of $1.90 billion for the second quarter because of poor-performing lumber and lumber sheet goods sales. Profit of $66.6 million increased from a year earlier.
Systemax will open a distribution center near Dallas as it focuses on its industrial products group. "The facility will allow us to better service customers and provide additional capacity as we invest now to support future growth," CEO Barry Litwin recently said.
Employees need to feel involved in new ideas and believe that the company is able and willing to innovate, says Jesse Nieminen, chairman of Viima Solutions. "Once you start to see some quick and easy 'wins,' you can build on that momentum and start taking bigger steps -- one at a time," he says.
B2B sites aren't connecting with buyers in a meaningful way, according to a Forrester report evaluating 60 websites across 12 industries. Website content needs to focus on customers' needs instead of solely on product and service capability, the report says.
Businesses in declining industries can accept the downward trend by rewarding shareholders or selling assets, or they can leverage existing talent and knowledge toward other purposes and markets, writes Bill Conerly. "Implementing a diversification plan based on current talents and assets will be risky, but all business entails risk," he writes.
Frequent updates, connecting your message to strategy and reducing the length and frequency of meetings are three ways to add energy and urgency to a company's day to day, writes Stephanie Overby. "As a leader, your focus and cadence contribute significantly to the urgency of the organization, and the more you systematize and reinforce it, the stronger the performance of the team," says Grand Rounds executive Wade Chambers.
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