Rexel (OTCMKTS: RXEEY), Paris, France, reported its first-quarter sales for 2022. North American sales were $1.89 billion in the first quarter, up 21.6%, while global sales were €4.4 billion (US$4.68 billion), up 16% on a same-day basis.
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Growth was supported by both volume increase and high selling prices driven by strong inflation, as well as increasing demand for electrical products in all geographies.
“Rexel’s strong start to the year demonstrates that we continue to benefit from solid underlying demand and electrification trends, which should accelerate in the current environment. It also highlights our ability to transform supply chain tensions into an opportunity to help customers navigate product shortages while ensuring pass-through of supplier price increases,” Rexel CEO Guillaume Texier said.
