Product Showcase Video: Slip, zip and Re-Grip
Re-Grip is renewing its push in the tool repair market with a slogan that reads like instructions: “simply slip, zip, re-grip.” Re-Grip is a patented technology that places or replaces worn-out handle grips on a variety of tools, levers and handles.
The company says it has improved its packaging, messaging and pricing. “We’re retail ready now, and we weren’t a year ago,” said Ryan Fogelman, national account manager for Re-Grip, a brand of Chicago Aerosol subsidiary Preval.
The product comes in three sizes — small ($10), medium ($11) and large ($12). Out of the package, a plastic coil keeps the grip in a stretched position ready to slip over a handle. Once in position, the user pulls the tab and the grip contracts tightly into place. The process takes a few seconds, and requires no adhesive.
The product was awarded the Bronze Medal in the Consumer Goods/Tools category at the 2017 Edison Awards in New York City last week. It was also a 2016 National Hardware Show Retailer’s Choice for Innovation award winner.
The packaging for 2017 helps consumers match the right size grip to the right size handle.
“There’s sentimental value in tools, everybody has a tool handed down from a grandparent or a dad,” Fogelman said. “Re-Grip is great way to maintain these tools, instead of using duct tape.”
Beacon touts ‘record-breaking’ revenue in Q2
Beacon Roofing Supply pointed to another record for revenue, with net sales of $870.7 million marking a new second-quarter record for the company.
Net revenue for the quarter ended March 31 was up 5.7% over last year's $823.5 million.
Segment-wise, residential roofing product sales increased 11.8%, non-residential roofing product sales declined 9.4%, and complementary product sales increased 17.6% over the prior year.
However, the company's net loss widened, with a loss of $9.4 million down from last year's net loss of $5.7 million.
“I am pleased to announce another record breaking revenue quarter for Beacon which has us positioned for a strong second half of 2017," said president and CEO Paul Isabella. "Most notable is our existing market same day sales growth of 2.4%, which is particularly even more impressive considering the 26% mild weather aided growth we saw in Q2 of 2016. Our existing residential roofing business delivered the 12th consecutive quarter of year-over-year improvement, achieving 9.3% growth in the quarter. Our complementary products business, one of our strategic focus areas, also demonstrated positive growth in the quarter. This is a favorable sign, and we will continue to pursue organic and acquisition growth within this category, as shown by our May 1st acquisition of Lowry’s, Inc., a market leader in waterproofing in the western United States."
"Our second quarter gross margins also remained above the most recent three-year reported average for Q2, and we are confident in sequential improvements during the upcoming quarters," he added. "We also expect our non-residential business to rebound in the second half with anticipated stronger demand and more favorable year-over-year comparisons. We will remain intensely focused on producing above-market growth within our core roofing markets and complementary categories, both organically and by acquisition. I am enthusiastic about the remainder of 2017 and our ability to achieve strong full year results.”