Deere & Co. is laying off nearly 600 workers as the farm equipment manufacturer deals with declining demand. In its second-quarter earnings release in May, Deere reported a more than 15% decline in revenue, the third straight quarter of year-over-year sales declines. Company executives said at the time that they expected further sales declines in the second half of the fiscal year. https://yhoo.it/4cCfG5u
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For trucking executives hoping for a transition to a stronger demand environment in the next few months, an article today from Bob Tita at The Wall Street Journal provides company-level evidence of concerns I've been noting regarding demand conditions (article at https://lnkd.in/gSz9P4F5). Some examples to consider: •Existing single-family home sales remain weak (https://lnkd.in/g-sViD_8), which is crimping demand for large appliances (https://lnkd.in/gjm7bzZz). •Lower agricultural commodity prices are dragging down farm equipment demand (e.g., John Deere recently announced production layoffs in IA and IL). •Cracks are starting to appear with motor vehicle sales, something I pointed out about a month ago based on the behavior of the PPI for automobile dealers (https://lnkd.in/eqg5DM2S). Implication: Combining these examples with this reporting from Bloomberg that many firms in interest rate sensitive sectors are eyeing layoffs if the FOMC doesn't start cutting in September (https://lnkd.in/gFwsXQj7), I'm not seeing a major increase in trucking demand in the second half. The Bloomberg article suggests a 6-month lag between cuts and more activity, which is in-line with the Q2 2025 time period I've previously highlighted as the chance for the next trucking bull market to start. #supplychain #supplychainmanagement #freight #trucking #logistics
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https://lnkd.in/gTvMkA89 Former President Donald Trump threatened John Deere with a 200% tariff if the agricultural manufacturer moves some of its production to factories in Mexico. John Deere plans to shift production of some of its models to Mexico, a move that has resulted in layoffs at some facilities in #Iowa. Shares of #Deere dipped about 1.6% in after-hours trading. Trump made the threat shortly after the closing bell. John Deere Blog – Policy Review – Agriculture and Farming Income Production Capital Cashflow and Operational Costs - https://lnkd.in/gbFrhb3Y
Trump threatens '200% tariff' if John Deere moves production to Mexico
cnbc.com
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In its first quarter 2024 earnings, John Deere reported that, as a percentage of trailing 12 month retail sales, its dealers inventories of over 100 horsepower tractors and combines were back to pre-pandemic levels.
Deere Reports Dealer Inventories Approaching Pre-Pandemic Levels
agequipmentintelligence.com
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In the News: AGCO ramps up Hesston manufacturing plant 🌟 Discover the latest in the world of FDI and Business! Check out this insightful piece. 💡🌍 AGCO starts upgraded systems at its Hesston Manufacturing Facility and begins to welcome employees back to production areas. 🔗 [Learn more: https://lnkd.in/eGQ-ne62] 🗨️ Join the Discussion! Your opinions are invaluable. #Comment below to share your views, ask questions, or start a conversation. We're excited to engage with each comment and hear what you think! Join as a Partner and Professional: FDI Alliance: www.fdialliance.com Valqus Accounting and Business: www.valqus.com #FDI #Invest #Trade #TradeandInvest #InvestmentPromotion #Markets #Business #Accounting
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Market share is an important metric to track to gauge ongoing performance and Tractor Supply is losing market share, according to our latest analysis. Read more below
🚜 More data flowing in: Tractor Supply has seen a notable erosion in market share in the days following the company's announcement that they are abandoning DEI roles and commitments to carbon emissions. After a single day spike the day after the announcement, share dropped to the lowest level in three months on July 4th. Read more: https://lnkd.in/eAdW258e
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🚜 'Growth In Late-Model Inventory Impacts Tractor Market Values' 📈 Read the blog post here ➡️ https://ow.ly/OA8350Soq40 #TractorHouse #Tractors #MarketReports
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📣 We have data on the initial impact of the announcement by Tractor Supply Company! On June 28th, the day after the the company announced it would eliminate diversity-focused roles and abandon its carbon-emission targets, sales on TractorSupply.com rose 23% versus the previous Friday and marked the best single sales day in a month for TSC. That good news was short lived though: After an uneventful, typical weekend, sales on Monday July 1st were down 10% week-over-week suggesting that as news of the decision spread, a backlash may be mounting. We need more time to determine the long-term impact, but initial data suggests that TSC customers are just as polarized as the rest of the nation. Read more: https://lnkd.in/eAdW258e #tractorsupply #diversityandinclusion #climatechange
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Sales on TractorSupply.com were down 5% yesterday July 2nd versus last Tuesday. That means that in the five days since TSC gave into conservative demands, online sales are essentially unchanged from the week prior. But if sales continue to on the current downward trend, they may see a net drop in revenue by the end of the week.
📣 We have data on the initial impact of the announcement by Tractor Supply Company! On June 28th, the day after the the company announced it would eliminate diversity-focused roles and abandon its carbon-emission targets, sales on TractorSupply.com rose 23% versus the previous Friday and marked the best single sales day in a month for TSC. That good news was short lived though: After an uneventful, typical weekend, sales on Monday July 1st were down 10% week-over-week suggesting that as news of the decision spread, a backlash may be mounting. We need more time to determine the long-term impact, but initial data suggests that TSC customers are just as polarized as the rest of the nation. Read more: https://lnkd.in/eAdW258e #tractorsupply #diversityandinclusion #climatechange
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Management Consultant - Draup | Ex - OYO l Strategy Consulting l Project Management l Change Management l Market Research
Many companies have experienced the challenges of centralized decision-making, leading to inefficiencies in operations. In the 1980s, Caterpillar, an industrial equipment manufacturer, faced the consequences of centralization. Pricing decisions were solely made at the corporate headquarters in Peoria, Illinois, causing delays and disadvantages in the market. This hindered the company's competitiveness against rivals like Komatsu. To address this, Caterpillar underwent significant reorganizations in the 1990s and 2000s, aiming to enhance decision-making agility and market responsiveness. #changemanagement #workforceoptimazation #peopleanalytics ##organisationalstructure
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🔧 𝐔𝐧𝐯𝐞𝐢𝐥𝐢𝐧𝐠 𝐎𝐮𝐫 𝐋𝐚𝐭𝐞𝐬𝐭 𝐀𝐫𝐫𝐢𝐯𝐚𝐥: 𝐉𝐨𝐡𝐧 𝐃𝐞𝐞𝐫𝐞 6920𝐒 🚜 Since 1982, we've been salvaging damaged maschine for spare parts. Each machine that comes through our doors tells a story — some have served their time, while others have faced significant setbacks. But even if a machine retires, it leaves behind a treasure of quality spare parts with plenty of operational hours left. 🔍 𝐄𝐱𝐩𝐞𝐫𝐭 𝐈𝐧𝐬𝐩𝐞𝐜𝐭𝐢𝐨𝐧: Our experienced team is gearing up to thoroughly inspect and assess the John Deere 6920S. Every salvageable part will be carefully cataloged, ensuring that you have access to top-notch secondhand components from John Deere 6920S including useful product data. Data you can easily access from our ‘scrapped’ section on our website. 🔄 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬: Choosing used parts not only makes economic sense but also aligns with our commitment to sustainability. Reusing components from machines like the John Deere 6920S is a step towards a greener and more efficient future. #JohnDeere6920S #SustainableSolutions #UsedTractorParts
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2moDeere & Co.'s layoffs reflect a tough reality for the farm equipment industry. With declining demand and consecutive drops in revenue, they're tightening their belt to weather the storm.