MSC Industrial reported sales declined 1% to $823.6 million in the first quarter of fiscal 2020, which ended November 30.

“Softness in industrial demand was broad-based and we continued to see customers and suppliers eliminate shifts and, in some pockets, announce layoffs and restructurings,” stated CEO Erik Gershwind.

Gross profit fell 3.1% to $347.2 million, while operating income dropped 12.3% to $90.3 million during the period. Net income declined 11.8% to $65.4 million, with an operating margin of 11%.

Founded in 1941, Melville, NY-based MSC Industrial distributes 685,000 metalworking and MRO supplies. Web: MSCdirect.com