Scott Farmer on economy
From Cintas CEO on stock hitting all-time high · · CNBCTelevision
“Well the economy obviously is in very good shape. The job market is very strong. One of the things when I talk to business people that I hear most is that they're having trouble finding people to fill the jobs that they have.”
On , Scott Farmer, Executive Chairman at Cintas Corporation, spoke about economy during Cintas CEO on stock hitting all-time high on CNBCTelevision.
About Scott Farmer
In an August 2018 interview, Scott Farmer, then Chairman and CEO of Cintas, discussed the company's performance and the broader economy. Farmer described the U.S. economy as "in very good shape" with a "very strong" job market, noting that business owners he spoke with were having difficulty finding workers. He stated that Cintas benefits from this environment because the company needs people to wear its uniforms and use its supplies. Farmer said Cintas sources products globally and that tariffs had not significantly affected the company, though he expressed concern about their potential impact on certain customer industry segments. Farmer highlighted the company's growth potential by stating that Cintas serves about one million business customers in the U.S. and Canada, while an estimated 16 to 18 million additional businesses do not currently use its products or services. He described this untapped market as "the great growth opportunity." Farmer also noted that Cintas is a family-founded business, with his great-grandparents having started a small laundry in Cincinnati and his father considered the company's founder. He mentioned that three family members in their early 20s—two nephews and his son—are working in the business as sales managers or sales representatives after completing the management training program.