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  • Designation of McKemy Distribution Center increases global logistics flexibility and efficiency for customers

    PHOENIX--(BUSINESS WIRE)--Leading global technology solutions provider Avnet (Nasdaq: AVT) has secured Foreign-Trade Zone authorization from the United States Bureau of Customs and Border Protection (CBP) for its McKemy Distribution Center in Chandler, Ariz. The designation reduces tariff recovery fees for its international customers as well as for domestic customers shipping abroad. Foreign-Trade Zone authorization also increases the company’s global logistics efficiency and improves its cash flow. Supervised by...
  • PHOENIX--(BUSINESS WIRE)--Avnet, Inc. (Nasdaq: AVT), a leading global technology solutions provider, today announced that on August 14, 2019, its Board of Directors approved an increase in Avnet’s current share repurchase authorization by $500 million. Avnet now has $675 million available for share repurchases when combined with prior authorizations. In addition, Avnet’s Board of Directors approved a 5% increase in the quarterly cash dividend to $.21 per share. The dividend will be paid on September 25, 2019, to...
  • Quarterly sales of $4.7 billion within guidance despite macroeconomic headwinds and tariffs

    Fiscal year sales rose 3%, SG&A expenses were reduced by $117 million, or 6%, and cash flow from continuing operations totaled $591 million

    PHOENIX--(BUSINESS WIRE)--Avnet, Inc. (Nasdaq: AVT) today announced results for the fourth quarter and fiscal year ended June 29, 2019. Fiscal Fourth Quarter Key Financial Metrics Sales of $4.7 billion, which were in line with guidance, declined 7.5% from a year ago and 0.4% from the prior quarter. Sales guidance for the fiscal fourth quarter anticipated lower-than-historical seasonality and emerging macroeconomic headwinds across all geographies. GAAP diluted loss per share from...

Story Makers Blog

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    We’ve just rolled out a brand new resource for business leaders looking to transform their organization by harnessing the incredible potential of the Internet of Things (IoT). While IoT spending is expected to reach $745 million this year, 3 out of 4 organizations get stuck in proof of concept purgatory—because they’re just not ready to unlock the technology’s potential. There are more than a few pitfalls and stumbling points on the path to successful IoT implementation, but, fortunately, we

  • Man surrounded by LED lighting displays in trade show booth

    Avnet has been attending LIGHTFAIR International for more than a decade. This year, we showcased some truly illuminating technological developments, including our high-performance LHM201 Horticultural LED Module, designed to optimize plant growth and facilitate precision agriculture. 

    With a lot of ingenuity behind this advanced lighting solution, it wasn’t the only standout in our booth. Several suppliers with whom Avnet works closely also brought their best and brightest lighting

  • image of Avnet Female Leader of the Year Award, Heather Fulara (center)

    Avnet’s Rise program provides career and leadership development and celebrates achievements while promoting diversity of women in the workplace. Each year, the Rise committee celebrates and honors the company’s women through networking opportunities, recognition, events and more. Recently the Avnet Rise committee hosted a celebration and award ceremony for this year’s selection of the 2019 Female Leader of the Year Award and first-ever recipient of the Shining Star Award.