Industry Dashboard for Nov. 26, 2012
The data for housing starts and existing-home sales are all running ahead of the previous month, and well ahead of the previous year. The Home Channel Stock Roundup shows Sherwin-Williams and Lowe’s running ahead of the field.
Deere reports sales and earnings gains
Moline, Ill.-based Deere & Co. reported net income of $687.6 million in its fourth quarter ended Oct. 31, a 2.7% gain compared to the same quarter last year.
For fiscal 2012, net income attributable to Deere & Company was $3.065 billion, compared with $2.800 billion in 2011. Worldwide net sales and revenues rose 14%, to $9.792 billion, for the fourth quarter and increased 13% to $36.157 billion for the full year
"In the face of continuing global economic pressure, John Deere has completed another record year," said Samuel R. Allen, chairman and CEO. "Our success reflects positive customer response to our lines of innovative equipment coupled with extensive efforts to expand our global competitive position."
During the year, Deere continued with the record introduction of new products, while opening or moving ahead with new factories in China, India, and Brazil. In the U.S., the company announced capacity expansions for tractors, sprayers, and cylinders.
Sears offers supplies and discounts to storm victims
Hoffman Estates, Ill.-based Sears said it launched post Superstorm Sandy programs to bring supplies and discounts on appliances to the New York area.
Additionally, Sears along with its partner, non-profit Rebuilding Together, has made a commitment to rebuild 100 homes in the storm-affected areas.
The announcement came after discussions between the retailer and New York Gov. Andrew Cuomo, who said: "I am challenging other retailers to please step-up and get involved."
The retailer moved truck loads of essential goods including food, bottled water, batteries and blankets to the greater New York area in the days right after the storm. Sears also offered loyalty card points to residents in affected areas.
"It’s clear people are hurting," said Sears Holdings CEO Lou D’Ambrosio. "Now Sears will help New York homeowners get back on their feet."