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Goodman Building Supply celebrates milestone

BY HBSDealer Staff

Goodman Building Supply Co. of Mill Valley, California, has launched a new campaign to celebrate its 60th anniversary.

The Ace dealer’s 60 Years of Serving Our Community campaign will kick off June 10 with the annual BusinessToBusiness Barbecue. On July 8 the store will host its big bash that will combine the 60th Anniversary Celebration with its annual Friends and Family Day — and include deep discounts on the shelves. Goodman’s final event will be its annual Women’s Day on Sept.r 9 with plans to make it bigger and better than ever, the company said.

“When the late Richard Harris opened Goodman Building Supply in 1955, he knew from the very beginning the key to lasting success was quality customer service and happy employees,” reads the release announcing the anniversary plans. “Since he retired 15 years ago, nothing has changed in the management’s philosophy.”

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10 things hardware stores and LBMs need to know about POS

BY HBSDEALER Staff

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Valspar boosts earnings despite sales decline

BY HBSDealer Staff

Valspar had a mixed story to tell in its second fiscal quarter — one that involved a blow to its revenues, but progress related to its bottom line.

Net sales were down 7% — or 2% in local currency — to $1.08 billion in the second quarter, down from $1.16 billion in the prior-year period. This was driven in part by a decrease in total volumes of 3%, namely by an "expected" decline in the Paints segment amounting to a 15% net sales decrease.

However, net income for the quarter came in at $90.3 million, up from $86.0 million the year before.

"Our results for second quarter were in line with our expectations," said chairman and CEO Gary Hendrickson. "EPS (as adjusted) grew 4%, despite the negative impact of currency translation and the expected volume decline in our Paints segment in North America. We saw continued volume and profit growth from our Coatings segment, driven by new business wins and benefits from productivity and cost savings. In the Paints segment, volume and sales were up in local currency in all of our international regions.”

The company reaffirmed its fiscal 2015 guidance of an annual diluted EPS ranging between $4.45 and $4.65.

“Based on our solid first half results and our outlook for the rest of the year, we are reiterating our fiscal 2015 EPS (as adjusted) guidance,” Hendrickson added.

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