Apple Services
Apple, the ultimate personal productivity tool designer, reported a sales & profits decline in Q2'23 in concert with slower tech demand following the Covid highs. CEO Tim Cook was pleased about continued growth in Services now running at $80Bn+ annually.
Acco skid masked
Acco Brands, ex-OP brand leader, reported weak results in Q1'23. Complacent ceo Boris Elisman still shows little grasp of the broader business supply market opportunities inc. hybrid office needs; and continues to double down on the extinct OP segment or ancillary gaming distractions?
Diversey divested;
Diversey, the $2.8Bn in sales, international hygiene & infection protection provider reported disappointing results for Q1'23. It has changed ownership again to privately owned via Platinum Equity chemicals making subsidiary. CEO Philip Wieland credited new contract and higher prices for sales increases.
One Wesco wired
WESCO the enlarged $22Bn (inc.Anixter) #1 US provider of electrical, security and MRO supplies, reported increased sales in Q1'23, boosted by price increases. CEO John Engel reported on powerful strategic progress in portfolio expansion inc. acquisitions.
Iron Mountain hikes
Iron Mountain ex-global leader in document services reported steady Q1'23 results. CEO Bill Meaney's opaque, minimalistic, but hyped up reporting seems geared to disguise reactionary late moves in digital & cloud storage. Acquisitions and high price increases continue to hide real volume declines
Berry in decline
Leading $13Bn protective packaging maker Berry Global reported declines in volume in all 4 market segments inc. health & hygiene division in Q2'23. CEO Ted Salmon's opaque commentary and confused analysis on declining profits, volumes and prices .
Shopify still strong
Shopify, the specialist MCommerce platform for business supply entrepreneurs grew less rapidly in Q1'23 with 1M+ independent partners. It has invested in distribution services but is bleeding cash. Can ceo Tobi Lutke match Amazon's delivery execution with Deliverr?
Arrow missing
Arrow Electronics, the $36Bn in sales global provider of IT products, services achieved strong sales growth from a tough market in 2019/20 . But now, new ceoSean Kerins reported a weak demand performance in spite of higher prices.
Wayfair weakening
Wayfair, the $12Bn US/UK home & office furnishings etailer, reported its 8th consecutive quarter sales decline in Q1'23. The Covid lockdown proved a huge WFH sales boost, now sliding back. Can ceoNiraj Shah turnaround its losmaking amidst takeover interest?
Stanley tools down
Stanley the $16Bn tools, storage & OP maker's sales volume declined, offset by price increases and acquisitions in Q1'23. Ex-CFO, CEO Donald Allan commented on weaker demand and details of the new additions.
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