The Proficiency
The Q2'22 reporting season is reaching a conclusion. Proficiency Index has analysed results to date and separated out the price inflation element from real volume performance. For example, Stora, Grainger, Navigator, IP, UPS, & Veritiv, all reported inflated profits fueled by high price hikes; a total of 80+ companies analysed to date...Updated
Healthy Hygiene
The #Paperless #Officeless #Touchless future is happening bigtime! Now hygiene is the #1 business supply category alongside tech. Progressive business suppliers: brand makers, dealers & MSP's have pivoted to sell customers hygiene, safety, foodservice & packaging, WFH-tech and wellness services.. We analyse Q2'22 reports, inc. this week Veritiv, KP Tissue & Suzano
Normal economic
"How this economic moment rewrites the rules. Jobs aplenty. Sizzling demand. If US headed for recession, it's taking an unusual route, with many markers of a boom" writes NY Times Ben Casselman. We discuss the article as it affects the business supply market...
Depot's deceitful
Beleaguered bigbox ODP Corp (aka-Office Depot-OfficeMax) reported another double-digit organic decline in Q2'22; -22% down on pre Covid 'norm' Q2'19; and down $5Bn since 2017. We analyse ceo Gerry 'Bizarro' Smith's deceptive report; the hollow and vague Varis&Veyer diversions plus his verbose BS commentary and Q&A session attended by the same one analyst again!
If Economy shaky,
Consumers are gloomy, but mostly working; the economy is slowing down to 2019 norms; the Fed wants it to keep slowing; and the recession obsessed Wall Street analysts are convinced the end is nigh. Meanwhile, strong profits are being reported in Q2'22 by Corporate America inc. business supply leaders, with optimistic outlooks for FY'22
Home Depot higher
Home Depot the $150Bn+ home & small business improvement supplier reported Q2'22 results. It's still benefiting from the WFH, but slower volumes were over compensated by price increases including a recovery in its PRO supply activity to SMBs.
Mondi packages
Mondi the $7Bn paper and packaging group has acquired a major paper mill from an Italian competitor based in Trieste. CEO Andrew King “We are excited by this opportunity to invest in the growth of our packaging business, build on our integrated platform and broaden our geographic reach.”
Job & Gig work
US & UK workers are experiencing one of the best job markets ever. The unemployment rate is low. Job listings are at historic highs. Wages are rising at their fastest pace in decades. "So why are more people doing gig work e.g. Uber" writes NYTimes Lydia DePillis. We discuss her findings....
HP AMPLIFIES
HP Inc. has launched an initiative involving reseller partners to promote the recycling of ink and toner cartridges across Australia, NZ & Asia. The problem with HP's sustainability efforts is they hide that continued use of old communications methods: producing and using paper and ink are high on toxic carbon emissions
Top10 O/Supply
News of Viking's iconic leader Irwin Helford's passing sparked Proficiency Post to review of the Top 10 OP industry legends over the past 40 years. We suggest the following personalities have been the most progressive, innovative, disruptive game changers during a golden age that has now transformed into a business supplies market...
Best Buy 'boom
Leading US electronics & tech retailer Best Buy said it is cutting jobs across about two weeks after it warned of weaker sales than expected. This follows similar moves from Walmart and Shopify as consumers shift spending towards experiences and services...
The Proficiency
The Q2'22 reporting season is reaching a conclusion. Proficiency Index has analysed results to date and separated out the price inflation element from real volume performance. For example, Stora, Grainger, Navigator, IP, UPS, & Veritiv, all reported inflated profits fueled by high price hikes; a total of 80+ companies analysed to date...Updated
Papermakers price
Most leading OP, Paper, Printer & Packaging makers have reported Q2'22 results. Printer paper and ink usage is down 75%+ since 2008 yet makers are increasing prices between +25-40% as demand dives. The shift to hygiene, food service & packaging supplies is huge. The Covid crash caused users to accelerate the move towards digitization as print diminished. We analyse latest reports this week Veritiv, Acco, Brother, Resolute, Sylvamo, CCL/Avery & KP Tissue
Foodservice fights
Foodservice supply leaders to business & restaurants Sysco & US Foods reported strong recoveries in their latest Q reports, boosted by higher price increases. Activist shareholders pressure at USF caused ceo to resign and be replaced by an ex-IT giant ceo. We compare results...
IP spinoff Sylvamo
Top packaging maker International Paper spun off its paper business to a separate public company named Sylvamo (sounds like shampoo!). In Oct'21 it debuted on the NYSE and now it reports Q2'22 growth results with no mention of falling demand
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