It has been a little lonely at times being a Rexel (RXEEY) [RXL.PA] bull, and not just because this is an almost-unknown name to U.S. investors (and the U.S. ADRs have very low day-to-day liquidity). Although the company has been making meaningful progress in restructuring its go-to-market effort (becoming more multi-channel and digital-friendly and meeting the customer on the customer's terms) and repositioning its U.S. business, the quarter-to-quarter financial results haven't always showed unequivocal progress.
I still believe there's more upside to be gained from Rexel's restructuring efforts, growth in commercial and industrial