MSC Fastener Expansion Boosts Sales
MSC Fastener Expansion Boosts Sales
Jasons Sandefur
After adding a 40% increase in its fastener offerings, MSC Industrial Supply Co. reported a sales gain of 8% to $436.5 million during the second quarter of fiscal 2008. Net earnings jumped 17% to $47.5 million. Sales through the MSC websites totaled $116.6 million for Q2, representing 26.7% of consolidated net sales.
Meanwhile its sales force grew 13% to 857 associates at March 1, 2008, boosted by MSC’s strategy to acquire new accounts and expand existing accounts across all customer types.
Six-month sales rose 8.4% to $874.1 million, while profit soared 17% to $94.3 million.
MSC now offers 42,000 fastener products among its 550,000 industrial products from 3,000 suppliers. MSC sales for fiscal 2007 rose 28% to $1.7 billion.
Founded in 1941 by Sid Jacobson as Sid Tool, MSC Industrial published its first catalog in 1964. Today MSC has 95 branch sales offices with 857 salespeople; four fulfillment centers: Atlanta; Elkhart, IN; Harrisburg, PA; and Reno, NV; and is headquartered at 75 Maxess Rd., Melville, NY 11747-3151. Tel: 516 812-2000 or 800 645-7270 Web: mscdirect.com �2008 FastenerNews.com
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