MSC Industrial Supply Co. reported sales declined 1% to $823.6 million in the first quarter of fiscal 2020, which ended November 30.
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Franksville, WI-based AIS distributes industrial fasteners and components, MRO supplies and assembly tools for commercial and consumer products.
“Conditions steadily improved in the quarter as manufacturing continued to firm,” stated CEO Erik Gershwind.
“As the manufacturing economy recovers and sales growth rates improve, the expense leverage latent in the business is beginning to demonstrate itself,” stated CEO Erik Gershwind.
“Most of our customers continue to express an improving outlook, particularly those in our core metalworking market,” stated CEO Erik Gershwind.
“As we moved into December, the start of our fiscal second quarter, we saw growth in sales, as well as improvement across all of our customer types," stated CEO Erik Gershwind.
"Our fiscal 2016 first quarter performance reflected continued share gains, sustained gross margin stabilization, and another quarter of strong expense controls," stated CEO Erik Gershwind.