AD member sales grow 7% in Q1
The AD buying/marketing group reported a 7% increase in member sales across 12 AD divisions, totaling $10.2 billion. Purchases from AD suppliers grew by 8% in Q1, the group reported.
On a same-store basis by business unit, PHCP sales were up 5% in Q1; Industrial/PT sales were up 4%; Electrical sales were up 3%; and building materials was up 5%. By country, same-store sales in the U.S. grew 5%; Canada was up 3% and Mexico grew 5%.
“Coming off record-breaking back-to-back years, we are pleased with the growth we achieved in Q1,” AD Chairman and CEO Bill Weisberg said. “Canada was a little softer than expected as were parts of our U.S. electrical operations. However, our industrial, HVAC and PVF businesses were well above plan. Our membership is growing organically. We are adding far more members than we are losing to consolidation. This enables us to invest back into the business with new member services. The trajectory looks good.”