Home Depot has announced $4.23 billion in first-quarter profit on sales of $38.91 billion, fueled by rising sales to home-improvement professionals. Professionals make up 40% to 45% of the company's customers.
The Cass Shipments Index declined by 0.5% from a year ago in April, although it rose 0.6% from a month earlier. "The prospect of freight recession is now considerable, as substitution from goods back to services spending picks up pace, and as inflation slows overall spending, particularly via higher fuel prices and by pressing up interest rates," says ACT Research's Tim Denoyer.
April trailer orders totaled 16,800 units, up a modest 4% over April 2021, but 53% below March, according to ACT Research. Don Ake, FTR Transportation Intelligence vice president of commercial vehicles, says manufacturers are only taking orders for trucks they're able to deliver and estimates there are more than 100,000 units in "pent-up demand."
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Using a data-driven approach can be an effective way for distributors to increase sales, presuming that sales teams have input and aren't overwhelmed by data, writes Brent Johnstone, managing director and co-founder of Actvantage. "It should be easy for a sales rep to discern what the numbers are 'telling' them so they can quickly identify risks and opportunities," Johnstone writes.
Before increasing prices, reconsider your approach to design, packaging and distribution, and consider searching for different suppliers, writes Jay Fuchs. If you have to raise prices, consider sending messages directly to customers and explaining the rationale behind the move.
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Teams need a common goal and a shared purpose to function well, and for process, strategies and resources to reach them, writes Martin Zwilling, founder and CEO of Startup Professionals. "High performance teams are not freestanding -- they must exist in a matrix, a larger social system, and you must optimize the business processes that are cross-functional," Zwilling writes.
Leaders can build better relationships with their reports by showing appreciation, seeking their input and showing them the larger purpose of their work, writes Kevin Eikenberry. "When we as leaders help them see where the work leads, who it helps, how they are making a difference, they are less likely to leave," Eikenberry writes.
