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Hardware Show hits major themes

BY HBSDEALER Staff

Las Vegas — The 2014 National Hardware Show is running on themes. 

The May 6-8 event at the Las Vegas Convention Center has identified daily themes to highlight the biggest industry trends — today’s theme: “The World of Home Improvement,” which will celebrate international exhibitors. The theme for Wednesday is “Made in USA.” Thursday’s theme is “Innovation Day.”

On the lineup for these special themed days are kickoff celebrations, closing celebrations, prizes, music and even an interactive passport program. Red Badge attendees can get their passports stamped at different booths they visit, and everyone who completes the passport program will receive a T-shirt (while supplies last) at the afternoon cocktail party. 

"We wanted to recognize some of the biggest, most popular areas of the National Hardware Show, and we thought the themed days would be a great way to do it," said Rich Russo, VP of the National Hardware Show. "We’re sure attendees and exhibitors alike will appreciate the chance to recognize these areas through special ceremonies, networking events and more."

For more information, visit nationalhardwareshow.com.

 

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Q2 income, sales rise for Scotts

BY HBSDEALER Staff

Scotts Miracle-Gro reported a strong second quarter ended March 29, driven by strong sell-in of its consumer products in the United States and Europe.

Adjusted income from continuing operations increased 38% to $136.7 million from $99.3 million in the prior-year quarter. This growth was driven by increased sales, continued margin expansion and strong control of operating expenses.

Net sales were $1.08 billion for the quarter, up 7% from $1.01 billion a year ago, due to strong initial sell-in to retailers.

"It should come as no surprise that consumer activity was lighter than we had originally anticipated, but we have seen high levels of consumer purchases when the weather has cooperated," said Jim Hagedorn, chairman and CEO. "We are pleased with the strong support we are seeing from our retail partners and glad to see a strong start to the season in Europe, where our business is currently trending ahead of our internal expectations. 

Sales in the Global Consumer segment increased 9% to $1.05 billion during the second quarter, compared with $962.8 million during the same quarter a year ago.

Scotts LawnService sales were down 12% to $28.9 million in the second quarter, compared with $32.9 million a year ago, primarily due to a delay in the start of the spring season.

Net sales for the first six months of fiscal 2014 were $1.27 billion, an increase of 6% from $1.20 billion a year ago.  The year-over-year change was attributable to increased sales in the Global Consumer segment, primarily due to strong retailer support, targeted pricing and the acquisition of the Tomcat business.  For the first six months of the year, Scotts LawnService sales were down 3%.

Adjusted income from continuing operations was $71.1 million for the first six months of the year, compared with $30.8 million during the same period a year ago.  

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HCN Stock Watch: Manic Monday

BY HBSDEALER Staff

 Stocks saw a lot of red at Monday’s close. Only seven companies posted gains.

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