The distribution giant noted that Ferguson continues to outperform the market and benefit from its business diversification.
Following the announcement
by Wolseley (Reading, UK) last week that it plans to dispose of
or exit its Stock Building Supply operations by August 1, the distribution
giant noted that Ferguson (Newport News, VA) continues to outperform the market
and benefit from its business diversification. Ferguson’s business
groups span five sectors including residential/builder, waterworks, HVAC,
commercial and industrial. The company’s diversification through the commercial
and industrial sectors contributed to its strong performance given the downturn
in the residential construction market.
“Wolseley has indicated, of their businesses today, Ferguson has the most
impressive sustained performance and continues to outperform the competition
providing strong returns, even in this challenging market,” said John
Stegeman, president and CEO.
Ferguson credits its large-scale distribution center model and branch
network coupled with its associates’ extensive local knowledge as key to
“Ferguson’s culture today is a reflection of great individuals working together
as one,” said Stegeman. “The character of a great company is truly defined in
the toughest times. The cycle we are in will pass, and we will surface stronger
Wolseley: Ferguson Remains Strong
March 10, 2009