From Printer paper
Supermkt shames
Vulture voracity
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Ferguson plumbs
back from highs
Ferguson plumbsAcquisitions stream slows
as sales approach $30Bn
Ferguson (inc.Wolseley) the #1 US plumbing supplies wholesaler, reported a decline in sales in Q4'23 ottset by acquisitions. We speak with ceo Kevin Murphy about progress and plans in its equally split residential and commercial markets. Results analysis complete
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Costco: growth
grinds below +5%
Traffic up. Prices down!
Sales +60% v norm 2019
Costco the $230Bn+ international home & business supplier's growth slowed from its double-digit roll in 2022. "Store traffic steadied with flat ticket values" said ceo Craig Jelenik. However, its logistics acquisition drove lower cost and faster service". Report analysis here plus Q&A session tomorrow
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MillerKnoll's hybrid
work growth stalls
MillerKnoll's hybrid New concepts unable to
offset soft RTO demand
MillerKnoll the #1 furnituremaker maintained its focus on hybrid office demand, but the soft contract market showed no signs of recovery. Retail designs slowed too. Outspoken CEO Andi Owen seems complacent about the tough contract market prospects. Results analysis here
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FTC accuses AMZN
of illegal protection
Is chair Khan's attack
aping EU's aggression?
The Federal Trade Commission (FTC) is suing Amazon, stating that its online store, marketplace and services to merchants illegally stifled competition. “Today’s lawsuit seeks to hold it to account for these monopolistic practices and restore the lost promise of free and fair competition,” said Lina Khan, the chair of the F.T.C.
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From Printer paper
to Pizza boxes...
Business supply market
top sellers overturned
The #OPocalypse has happened! 15yrs ago communication papers and ink were dominating the top 10 selling products. Today? Gone!. The shift towards tech, hygiene, foodservice and packaging supplies has been relentless. Often wrongly described by bigbox relics as 'adjacencies', these categories are mainstream with e.g. Clorox, tissues and pizza boxes topping the business demand charts. Analysis later today
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Synnex s t a l l e d.
Losing mkt share?
#1 $60Bn tech wholesaler
integration slows progress
TD Synnex, the #1Global IT wholesaler has recovered from serious Asian supply problems, but is now suffering slower demand. Complacent CEO Rich Hume commented on positive "momentum" in spite of declining volume growth in its Q2'24 financial review. Report analysis complete inc Analysts' Q&A session
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Cintas' resilient
revenue recovery
Cintas' resilientUniform, Health & Safety
Services growth returns
Cintas the $10Bn uniform services specialist, continued its powerful sales recovery in Q1'24. CEO Todd Schneider plans to accelerate its 'Ready for the Workday' strategic services direction "enabling customers more time to focus on their business, that boosts mutual profitability". Report analysis here
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United N a t u r a l
Foods' slowdown
United N a t u r a lEx-Staples chief feeds
healthier WFH lifestyle
US #1 broadline food wholesaler United Natural Foods (UNFI) reported slower results in Q4'23 aided by price inflation. “As consumers continue to seek at-home food solutions, UNFI remains dedicated to providing our resellers with a competitive service" said ceo Sandy Douglas (ex-Staples)
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Aldi argues "Private
Label to dominate"
Biased based on <10%
range is original brand?
German owned supermarkets Aldi and Lidl have grown rapidly in recent tears to grab a 20% market share. Aldi UK chief Giles Hurley stated: "Britain is shopping very differently to how it did 18 months ago — fewer trips, more own-label products, and switching supermarkets in search of better value.” How are leaders Tesco and Sainsbury's responding?
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AMZN accelerates
AI collaboration
Jassy "customers will gain
huge productivity benefits
Amazon wis investing up to $4Bn in San Francisco-based AI startup Anthropic, as the two parties collaborate to advance generative AI. "Customers are quite excited about Bedrock, AWS’s new managed service and Trainium, its training chip; with Anthropic it should help customers get even more value" said CEO Andy Jassy
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