Bouncebackability
Reports are all in for Business Supply players in Q4'22. Predictably they show inflated profits but weak sales recovery v pre-Covid 'norm' Q4'19. Proficiency Index reports the Leaderboard of makers, wholesalers & dealers' 'Bouncebackability' performance. It covers 100 leading paper & printer makers, hygiene, foodservice and packaging suppliers, OP/furnituremakers and retailers Updated
Healthy Hygiene
Hygiene is now #1 business supply category alongside technology. Progressive business suppliers: brandmakers, dealers have pivoted into hygiene, safety, foodservice & packaging, WFH-tech & wellness services. Proficiency Index Q4'22 analysis is almost complete with brand volumes slowing, boosted by double-digit price hikes. Updated for KPTissue, Sappi & Suzano. Diversey delayed to 22Mar
Top 50 Women
Marketing to businesses by brandmakers & resellers was traditionally dominated by men. As we celebrate International Women's Day, Proficiency Index recognises the most successful women leaders. This is 16th edition of 'Top 50 Women in Business Supply', the market's real growth achievers, including new entrants from progressive independent dealers.
Office Mkt Legends
It's 10yrs since the top OP mega-independent dealer champs Lyreco's Eric Bigeard and WBMason's Leo Meehan met with Staples CEO Ron Sargent in Boston. We reflected on past glories, Covid, digital transformation and looked forward to a 'hybrid office productivity' future..Updated
Hybrid work future
The contrast in opinions over the 'hybrid work future' & the 'return to work', is stark. New thinking is positive about the huge rise in entrepreneurial productivity. Old thinking believes a return to corporate office control is inevitable. Are corporations underestimating the hollowing out of office space; the time waste and the need to trust workers' motives? Updated
Ace Hardware the leading dealer owned, home improvement cooperative, reported strong organic growth boosted by double-digit price inflation in Q4'22. The best practice model group, increased market share v major competitors Home Depot & Lowes, proving the power of personalized marketing and convenience over a buying group mentality
Salesforce soars
CRM #1 provider Salesforce ceo Mark Benioffbrimmed with enthusiasm about growth trends in Q4'23 and a magical $30Bn+ revenues achieved in 2023. Yet Wall St was not impressed, nor by recent co-ceo and Slack chief exits plus activist shareholders interest? The lone wolf leader seems unfazed...
Lowes slows down
Lowesthe US #2, $100Bn sales home improvement retailer reported Q4'22 financial results. CEO Marvin Ellison commented on a better than expected performance especially its PRO business with SMB-trades people, but made no reference to lost market share with main rivals.
Drowning Depot's
Beleaguered bigbox ODP Corp (aka-Office Depot-Office Max) reported another disguised -18% volume decline in Q4'22; -50% down on pre Covid 'norm' Q4'19; 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,including the faux Q&A analysts session. No anaysts in attendance!?. Updated
Imperial's triple
After a 1 month hiatus (!), VC Advent owned Imperial Dade, resumed the rapid roll-up of regional hygiene, food service & packaging suppliers in US-Canada. This latest triple play in Canada, building on its Veritiv platform, has re-ignited the takeover stakes v main rival Envoy Solutions. The persistent question remains: will Advent really invest in systems and brand integration?
Reckitt rebounds
Reckitt the £14Bn ($18Bn) UK based international consumer hygiene & health products giant, reported powerful Q4'22 results, boosted by double digit price hikes, as consumers "resumed 'normal' pre Covid wellness and nutrition trends" commented new ceo Nicandro Durante. Updated
NPD OfficeSupply
Reputable research group NPD just published a report on the US Office Supplies market (excluding hygiene & refreshments) for 2022. What is it smoking? It reckons sales volumes are only down -10 to 12% v 2021 & 2019!? All factual evidence from industry leaders confirm at least -30% shortfall v 2019 pre Covid norms?
Haughty HP inks
Old tech giant, HP Inc's printer & ink sales volume continued to decline double digits in Q1'23, mitigated by high inflationary price hikes. PC demand sank and losing market share to Dell & Lenovo.Can complacent, in denial, ceo Enrique Lores really reinvent the fading force whilst resorting to protectionism. Updated
Wayward Wayfair
Wayfair, the $12Bn in sales, home & office furniture etailer, reported Q4'22 results last week. "They were a complete disaster" said Seeking Alpha analyst Dave Kranzler. "It's close to insolvency, yet if not unethically, management (ceo Niraj Shah) compensation soared" We review analyst's comments.
Envoy cleans up
NEWS SHOCK! FEMSA's hygiene & packaging distribution subsidiary Envoy Solutions, that it announced 15Feb was under divestment review, has resumed its rapid rollup activity. Today, ceo Mark Fisher confirmed the acquisition of #33 a cleaning reseller; and #34 a chemicals maker, both based in Arizona.
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