AD reports record-breaking third-quarter results
Member sales grew by 11% to $28 billion. Purchases from AD suppliers grew by 16%. Distributions to members were up 13%.
The AD buying/marketing group reported sales for all AD members across 12 AD divisions and three countries hit a new record during the third quarter of 2017 to $10.2 billion.
Through the first nine months of the year, Member sales grew by 11% to $28 billion. Purchases from AD suppliers grew by 16%. Distributions to members were up 13%.
On a same-store basis by industry, electrical sales were up 13% through nine months; PHCP was up 13%; industrial/PT up 10%; and building materials was up 16%. By country, same-store sales in the U.S. grew 10%. Canada was up 11% and Mexico grew 12%.
“The record-breaking numbers of the last nine months exceeded expectations and reflect the strong, smart and unwavering dedication of AD independents to outperform the market,” AD Chairman and CEO Bill Weisberg said. “Growth in Q3 accelerated over our strong first half.”Weisberg noted highlights in the third quarter included the creation of its 12th division, AD Decorative Brands, which supports the growing showroom industry, as well as the launch of the AD Disaster Relief Foundation to get relief to the people at AD member and supplier companies surviving disasters such as hurricanes Harvey and Maria, as well as the California wildfires.