April 12, 2021

Sales 

Since adjusting for seasonal variations and trading day differences but not for price changes, according to the US Census Bureau, merchant wholesalers’ February 2021 revenues were $538.3 billion, down 0.8% ((±0.7%) from the revised January amount but up 6.4% (±0.9%) from the revised February 2020 level. The percent improvement from December 2020 to January 2021 was changed from a tentative estimate of up 4.9% (0.7%) to up 4.4% (1.1%).

Inventories 

Total merchant wholesaler inventories, except manufacturers’ sales branches and offices, were $682.5 billion at the end of February, up 0.6% (±0.4%) from the revised January mark, after adjusting for seasonal variations and trade day differences but not for price changes. Total inventories increased 2.0% (±1.1%) from the updated February 2020 mark. The percent improvement from January 2021 to February 2021 was changed from an advance forecast of up 0.5% (±0.4%) to up 0.6% (±0.4%).

Inventories/Sales Ratio 

Based on seasonally adjusted data, the inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, was 1.27 in February. The ratio in February 2020 was 1.32.

Disclaimer:

Analyst Certification –The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.

Company Disclosure –The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.