PRO Group promotes Pedersen to associate buyer
The Denver-based PRO Group has promoted Stephanie Pedersen to associate buyer. Pedersen has been with PRO Group since 2004 and was previously merchandising and marketing coordinator.
Pedersen’s responsibilities include managing the growing pet category as well as working with additional vendors in hardware, lawn and garden, plumbing and paint sundries. She also maintains her role in the advertising planning process, coordinating special buys and recruiting new vendors for the group at industry trade shows and conferences, including distributor events and national events such as the National Hardware Show and National Lawn and Garden Show.
"It is an exciting time to be a part of the hardware business and I’m thankful that I have an opportunity," Pedersen said. "I have a vested interest in collaborating with vendors, distributors and retailers in order to help everyone succeed."
Shari Kalbach, managing director of PRO Group, said, "Stephanie has been an asset to PRO Group since her first day. Her ability to cultivate relationships with our distributor members and manufacturer partners has helped her grow into the associate buyer position. She is a valuable member of our team, and I look forward to her continued success at PRO in her new role as she takes on more responsibility."
Prior to joining PRO Group, Pedersen worked at Canac Kitchens, where she served as service coordinator in the Denver office, and then transferred to the Dallas office where she managed work orders and operations.
Valspar’s net sales up 1% in Q3
Amid strong performance in the U.S. and challenges on the demand side of the general industrial market, The Valspar Corporation reported third quarter growth of 1% in net sales and 5.5% in net income.
Net sales for the company came in at $1.1 billion for the third quarter. Meanwhile, Paints sales increased 3% to $455 million, while Coatings experienced a 1% bump in sales to $573 million.
Adjusted net income came in at $96 million, compared to year-ago figures of $91 million.
“We continue to drive strong volume growth from our new business initiatives in the consumer paint, packaging and wood product lines,” said Gary E. Hendrickson, chairman and CEO. “However, sales and earnings finished slightly below our expectations for the quarter due to continued macro-economic headwinds in key general industrial market segments and certain international regions. Based on our third quarter results and the anticipated impact of these trends, we have updated our annual adjusted EPS guidance to $3.45 to $3.55. We continue to expect improved sales and earnings growth in the fourth quarter, but not at the level we had anticipated earlier in the year.”
Retail sales hold steady in July
The U.S. Census Bureau announced July sales for the retail trade were up 0.1% compared to June 2013, bringing the adjusted estimate to $378.7 billion.
Sales for businesses described as building material and garden equipment and supplies dealers (NAICS 444) were an estimated $25.8 billion in the month of July, down 0.4% from last month, but up 7.9% from the year-ago month.
The biggest gainer on a month-to-month basis, according to the data released Tuesday morning, were sporting goods, hobby, book and music stores (NAICS 451), up 1.0% from June’s estimate.
Nonstore retailers were up 8.8% compared to last year.