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HCN Stock Watch: TSCO hits 52-week high

BY HBSDEALER Staff

Tractor Supply (TSCO) reached a new 52-week high Monday, closing at $119.14 and breaking its previous 52-week record of $118.86.

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SHW lead-paint case set for trial

BY HBSDEALER Staff

The Sherwin-Williams Co. says its court date is set for July 15 in a California lead-paint case.

A previously disclosed, Sherwin-Williams is a defendant in a proceeding in the Superior Court of the State of California, County of Santa Clara relating to the presence of lead products used in paints and coatings. 

This proceeding involves a sole claim for public nuisance brought by 10 cities and counties in California against five defendant companies. The presiding judge in the proceeding has issued an order setting the trial to begin on July 15. Previously, on May 23, 2013, the judge had postponed the prior trial date of June 24, 2013.

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WD-40 Co. posts Q3 gains

BY HBSDealer Staff

San Diego-based WD-40 Co. saw net sales increase 7% in the third quarter, as the company’s multi-purpose maintenance products showed double-digit growth.

WD-40 sales were $93.1 million in the quarter ended May 31, compared to sales of $87.0 million in the year-ago period. Net income for the third quarter was $10.3 million, up 12%.

As multi-purpose products — such as the namesake WD-40 lubricant, 3-IN-ONE and Blue Works brands — were up 12% in the quarter, homecare and cleaning products sales were down 18%. The former were described as the "primary focus" for the company, while the latter are becoming a smaller part of the business. 

"We have confidence in our ability to continue to leverage the WD-40 shield and to create solid growth in our core product lines," said Garry Ridge, WD-40 president and CEO. "As we continue to clebrate our 60th anniversary as a company, we are thinking big about our future."

WD-40 reported Americas segment sales in the quarter were $47.6 million, up 8%. Europe segment sales in the quarter were $32.5 million, also up 8%. The company also said it sees long-term opportunities throughtout Asia, particularly in China.

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