Grainger's Q2 profit nearly doubles as sales increase | Lawson Products sets quarterly record for total sales | MRC Global reports higher sales, smaller loss in Q2
Grainger reported $225 million in second-quarter net profit, up from $114 million in the year-ago period, on total sales of $3.21 billion. Sales of non-pandemic products increased by 31% compared with a year ago.
Lawson Products had second-quarter total sales of $106.5 million, up 47.7% from the year-ago period and setting a company record. Lawson reported quarterly net profit of $2.9 million, up from $0.6 million a year ago.
Distributors may think it's too late to introduce e-commerce or that such platforms are only good for branding, but both of those beliefs are false, say David Koenig of SAP and Angela Troccoli of Mirakl. Other things to remember are that e-commerce can generate top-line growth, be cost-effective and improve the overall business.
More than half of respondents to a survey for Pitney Bowes said they are nervous about package theft, and 49% said smart lockers provide more privacy. One in three millennials surveyed said they have used smart lockers, and many appreciate them for their security and sustainability.
Ramarketing founder Raman Sehgal outlines five classic mistakes made by business-to-business marketers and offers advice on how to fix them. Among the five are not prioritizing brand positioning, imitating others instead of forging a new creative path and focusing on the company, not the customer.
PowerPoint is synonymous with slide decks at this point, but you don't always need slides to get your point across, writes Stephanie Scotti. That said, Scotti offers advice for how to put together a concise, thoughtful slide deck and argues for presentations where the audience can "easily glance at your media, grab the key information, and turn their attention to what you are saying."
Encourage employees to take pride in creating an ethical and compliance-friendly culture by giving them autonomy and modeling values-driven behavior from the top down, writes HRCI CEO Amy Schabacker Dufrane. Train managers to lead discussions on how people might approach various hypothetical situations from an ethical standpoint to embed values within everyday decision-making, Dufrane writes.
Join the NAW Institute for Distribution Excellence and our partners, Ian Heller and Jonathan Bein of Distribution Strategy Group on, Aug. 10 at 2 p.m. ET for a free webinar. During this webinar we will review a variety of IT architectures based on various distribution business models, sizes and markets. We will also summarize the importance and potential of several emerging technologies to help your team prepare for what is coming next. Register today.
It has been a long time but, finally, we will be together again! Designed for C-suite executives, these roundtables provide actionable strategies that will increase your company's competitive advantage. Companies belonging to this community are from distribution firms that exceed $1 billion in annual sales. You'll engage in thought-provoking conversations with your peers and hear from industry experts on topics that will ultimately increase your profits! Register today.
