Phillips Pet Food to combine with Animal Supply Co. | Patterson Cos. reports profit for fiscal Q3 | Veritiv announces Q4 profit, appoints board members
Phillips Pet Food & Supplies will merge with Animal Supply Co. in a deal expected to close next quarter. "We are confident that a combination with ASC will enhance support for our many pet specialty retailers," says Phillips CEO Todd Shelton.
Patterson Cos. recorded $23.2 million in net income for the fiscal third quarter on revenue of $1.46 billion, with sales up and profit down compared with the year-ago period. Animal health accounted for 56% of revenue.
Veritiv recorded a $3.4 million profit during the fourth quarter but a full-year loss of $29.5 million. The company separately named Shantella Cooper and Stephen Macadam to its board this month.
State of the Wholesale Supply Chain Industry in 2020 For the third straight year, Blue Ridge asked wholesale supply industry leaders about their challenges, how they're thinking about solving them and how they're dealing with the pace of technological change. One key finding for the 2020 survey is the adoption of new machine learning, such as A.I., which is on the rise as a strategy to combat supply chain disruption. Get the report to read more.
A changing retail landscape and industry consolidation pose the greatest threats to today's master distributors. Meanwhile, distributors of all types are facing the pressure to be a prime destination for talented employees.
Over 70 vertical B2B marketplaces exist today, including GoDirect Trade, CheMondis and Farmers Business Network, as such platforms meet the needs and preferences of younger buyers. "If for one second you think Generation Z workers will place an order by calling someone on the phone, then you are in for a shocker," says Lisa Butters of GoDirect Trade, which connects buyers and sellers of used aerospace parts.
MultiView CEO Andy Keith acknowledges artificial intelligence's importance in business-to-business marketing for superior data aggregation at scale but cautions against it being used for analysis, creative or relationship-building. "Developing brands and the relationships that are so important in B2B businesses require human and emotional connections," he writes.
Burnout is a "workplace phenomenon," not an individual problem, according to the Harvard Business Review, and entrepreneur Aytekin Tank writes about a three-step system to beat it. Start by examining leaders' unhealthy expectations, address exhaustion before it causes problems and ask employees what they need, he recommends.
Watch Barry Lawrence. This first-of-its-kind "Sales and Marketing Optimization" research study, with an accompanying Sales and Marketing Framework wall map, provides 30 best practices for improving these critical business processes: market segmentation, value proposition, business development, sales process and sales force stratification. Every distributor should adopt and execute these best practices successfully if the business is to adapt to the new realities in today's economy and still achieve competitive advantage.
Wholesaler-distributors can enjoy (1) everyday savings of up to 25% off Hertz car rental base rates*; (2) bonus coupons; and (3) premier travel perks when signing up for Hertz Gold Plus Rewards. Learn more. *Taxes excluded. Terms apply.
We are at a historically high level of merger-and-acquisition activity among wholesaler-distributors. "Mergers and Acquisitions for Distributors: Expert Advice for Buyers and Sellers" provides information that probably can't be found anywhere else as it navigates M&A in wholesale distribution. It covers the importance of getting professional guidance, selecting the best people to assist with M&A and bringing advisers into the buying or selling process as early as possible. Download our free pocket guide for a peek.
