Lennox acquires Kysor/Warren
Dallas-based heating, air conditioning, and refrigeration manufacturer Lennox International announced it has completed its purchase of the Kysor/Warren business from The Manitowoc Company.
Details of the acquisition were not disclosed.
Based in Columbus, Georgia, Kysor/Warren is a manufacturer of refrigerated systems and display cases for supermarkets throughout North America.
Sears releases year-end outlook
Hoffman Estates, Ill.-based Sears Holdings released its year-end outlook for the fiscal year 2010 ending Jan. 29.
For the full year, the company expects a net income of $210 million, with a fourth-quarter income expectation of between $370 million and $450 million, offsetting the company’s past two quarterly losses.
The company also posted up-to-date comparable-store sales for both its Sears Domestic and Kmart stores.
For the quarter-to-date, comparable-store sales for its Sears Domestic stores were down 5.3%, with Kmart stores seeing an increase of 3.4%.
For the year-to-date comparable-store sales, Sears Domestic saw a decline of 3.8%, with Kmart seeing a .8% increase.
Sears Holdings will release its fourth-quarter and year-end financial results Feb. 24.
Advanced monthly retail sales for December show gains
The U.S. Census Bureau reported this morning that U.S. retail and food services sales for December were $380.9 billion, up 0.6% from the previous month.
Even better news came from the comparison to last year — December sales were up 7.9% from December 2009. And Total sales for the October through December 2010 period were up 7.8% from the same period a year ago.
Looking specifically at NAICS classification 444 — Building material & garden equipment & supplies dealers — advanced sales in December were $25.224 billion, up 2.0% from $24.734 billion in November 2010, and up 13.1% from $22.298 billion in December 2009.
All the figures above are adjusted for seasonal variation and holiday and trading-day differences, but not for price changes.