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HIRI Spring Conference set for Arlington, Va.

BY HBSDEALER Staff

The Home Improvement Research Institute 2011 Spring Conference is slated for April 13 at the Doubletree Hotel Crystal City in Arlington, Va.

The one-day event runs from 8:30 a.m. to 3:30 p.m. and will feature seven presentations connected to the theme of "Understanding Today’s Home Improvement Industry."

Presenters include the Mortgage Bankers Association, IHS Global Insight, The NPD Group and Synovate. Early registration discounts are available to those who register by March 11. 

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Industry Dashboard for Feb. 14, 2011

BY HBSDEALER Staff

Retail sales and housing starts will be reported this week. Until then, look at the gains on the Home Channel Stock Roundup — Tractor Supply, up 108% over last year; Weyerhaeuser, up 73% over last year; and Beacon Roofing, up 19% over last month.

Elsewhere on the Industry Dashboard, gas prices continue to creep up. As of Feb. 11, a regular gallon of gas sold at a national average of $3.13.

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Valspar sees sales jump 25.3% in Q1

BY HBSDEALER Staff

Minneapolis-based paint and coatings giant Valspar posted first-quarter sales of $842.4 million, up 25.3% compared with the same quarter last year.

Net income for the quarter ended Jan. 28 was $33.4 million, down 1.5% from $33.9 million last year.

“Results for the quarter were in line with our expectations,” said William L. Mansfield, Valspar chairman and CEO. “Our Australian paints acquisition and the continued success of our pricing and new business efforts drove our double-digit top line growth." 

In late January, Valspar announced price increases for its liquid coil and extrusion coatings product line effective April 1 and March 1, respectively. The increases range from 6% to 10% depending on the product type. The increases are the result of rising costs of raw materials, the company said.

"Looking ahead, we remain focused on addressing continuing upward pressure on raw material costs through pricing and productivity," Mansfield said.

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