Staples' 5th Anniv
In June'17 vulture capitalist Sycamore Partners bought Staples for $6.9Bn. The industry quaked! What has happened since? Proficiency Post chronicled its demise from $16Bn down to a current $8Bn with the ex-powerhouse a shell of its former self. What do leading vendors and IDC think? We surveyed and report here to date
Essendant: Big call
Leading business supplies wholesaler Essendant's leadership team justhosted dealers and suppliers at a virtual Town Hall event. It proved a great opportunity to connect and share latest market perspectives; top economist Brian Beaulieu's view; plus new initiatives. We spoke with president Harry Dochelli on key takeaways...
Mason's Blizzard
Warren Buffett owned Dairy Queen (DQ) had issues with business supplier WBMason's labeling of its 'Blizzard' branded water, but the Minnesota federal judge ruled 'no customer confusion'. DQ sued in 2018 but WB's lawyers were always confident claims were "ridiculous". PP dives inside the saga...Updated
Create cool hybrid
Even before Covid some organizations began experimenting with mobile work, shifting ownership for spaces and offering more choice for people to move where they worked based on their activities. Some companies allowed hybrid work, giving employees flexibility to WFH. Now, the practice has become the mainstream even those who believed it wasn’t a fit for them.
The Proficiency
The Q1'22 reporting season is complete. Proficiency Index have analysed results and separated out the price inflation element, from real volume performance. HPInc, HPE, ABM, UNFI and Costco were the last companies to report inflated profits fueled by high price hikes; a total of 90 companies analysed
Bunzl boosted
Bunzl, the $13Bn in sales, international business supplies wholesaler, reported decelerating volume growth in Q1'22. Moreover, following 14 acquisitions in 2021 growth has slowed markedly relying on double digit price increases to combat pressure from Amazon in the emerging hygiene, foodservice & packaging distributors
Foodservice fights
Foodservice supply leaders to business & restaurants Sysco & US Foods reported rapid recoveries in their latest quarterly reports. Activist shareholders pressure at USF caused ceo to resign last week and be replaced bya an ex-IT giant ceo. We compare results....Updated
Cascades Pckng
Leading Canadian tissue & packaging board maker Cascades reported mixed results in Q1'22. CEO Mario Piourde's optimism was dented by Covid's negative affect on business tissue sales but balanced by stronger packaging demand especially in foodservice
KP Tissue rolls
KP Tissue (ex-Kruger) the Canada based leading international brand tissue maker, has recovered strongly from a huge drop in demand in both consumer & business supply markets during Covid, boosted by high industry price inflation
Konica's MPS
Konica Minolta the $10Bn Japanese MPS/printer group published flat results in Q4'22. It looks unlikely that it will resume an acquisition drive to compete with Xerox/HP's moves for the few large MPS providers remaining?
CCL label sales'
CCL Industries, the $6Bn in sales specialist labelmaker, reported a sustained recovery in Q1'22. Sales were particularly strong in the 'essentials' WFH health and personal care markets. CEO Geoff Martin commented on record results across all divisions
PFG/Vistar: food
Performance Food Group, the leading US food & beverage services wholesaler reported a huge organic sales increase in Q3'22 as businesses/restaurants returned towards normal. The major acquisition of fresh food broadline leader boosted sales in addition to double digit price hikes
Brother bounces
Brother International the $6Bn document services & printermaker, reported a commendable recovery in Q4'22 primarily in the Europe & Asia markets as the Covid crisis eased; and WFH activities spurred growth e.g. sewing machines and color printing
Diversey's drive
Diversey, the $2.6Bn in sales, international hygiene and infection protection provider reported flat results in Q1'22. Growing strength in the food and beverage market was offset by weak institutional demand. CEO Phil Wieland however, was optimistic about future growth as international markets recover from Covid...
Aramark advances
Aramark the $15Bn business services provider in Food, FM & uniforms reported a powerhouse recovery from depressed revenues in Q2'21. CEO John Zillmer's plan to "elevate the hospitality culture" and transform customer orientation are underway
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