Sherwin-Williams reports new sales record
Cleveland-based paint giant Sherwin-Williams described a strong performance in 2012 and posted record sales of $9.53 billion for 2012, an increase of 8.8%.
For the fourth quarter, sales increased 7.3% to $2.22 billion, primarily due to higher paint sales volume in the Paint Stores Group and selling price increases.
Net sales in the Paint Stores Group increased 13.2% to $5.41 billion in the year and increased 9.8% to $1.25 billion in the quarter.
Christopher Connor, chairman and CEO, described an all-around strong performance in 2012. "We are pleased to report record highs for multiple financial measures in 2012, including sales, earnings per share, net operating cash and earnings before interest, taxes, depreciation and amortization," he said. "All of our operating segments contributed to the record year with increases in sales and operating profit, lead by our Paint Stores Group."
Total net income for the quarter was $117.2 million, up 34.5% from the previous year’s quarter. For the full year, net income rose 33.1% to $987.3 million.
EPA moves to ban d-CON pesticides
The U.S. Environmental Protection Agency is moving to ban the sale of 12 d-CON mouse and rat poison products produced by Reckitt Benckiser because these products fail to comply with current EPA safety standards.
The EPA said it has worked cooperatively with companies to ensure products are safe to use around children and effective for consumers. Reckitt Benckiser, maker of d-CON brand products, is the only rodenticide producer that has refused to adopt EPA’s safety standards for all of its consumer use products, the EPA said.
"Moving forward to ban these products will prevent completely avoidable risks to children," said James Jones, acting assistant administrator for EPA’s Office of Chemical Safety and Pollution Prevention. "With this action, EPA is ensuring that the products on the market are both safe and effective for consumers."
Approximately 10,000 children a year are accidentally exposed to mouse and rat baits, according to the EPA.
Reckitt-Benckiser officials did not immediately respond to requests for comment.
The EPA requires rodenticide products for consumer use to be contained in protective tamper-resistant bait stations and prohibits pellets and other bait forms that cannot be secured in bait stations. In addition, the EPA prohibits the sale to residential consumers of products containing brodifacoum, bromadiolone, difethialoneand difenacoum because of their toxicity to wildlife.
Among the 12 D-Con products on the list to ban are: d-CON Concentrate Kills Rats & Mice, d-CON Bait Packs III, d-CON Ready Mixed Generation II, and d-CON Bait Pellets III. The complete list can be found here.
The products remain on shelves as the manufacturer has 30 days to request a hearing.
Tractor Supply grows sales in core merchandise
Brentwood, Tenn.-based Tractor Supply Co. posted sales and earnings gains in the fourth quarter and full year ended Dec. 29, riding the strength of its core categories, according to the company.
Fourth-quarter sales at the farm and ranch giant increased 3.7% to $1.29 billion, as comp-store sales increased 4.7%. Adjusted for an extra week in the prior year’s fourth quarter, the company showed a 10.8% sales increase.
Net income for the quarter ended Dec. 29 was $79.5 million, compared with net income of $70.5 million in the fourth quarter of the prior year.
The same-store sales increase was driven primarily by continued strong results in key consumable, usable and edible (C.U.E.) products, principally animal- and pet-related merchandise.
"Our core C.U.E. categories again posted solid increases above last year in both sales and units, and our ability to plan, prepare, execute and react quickly to the trends we are seeing in our business allowed us to deliver our 19th consecutive quarter of year-over-year transaction count increases," said Greg Sandfort, president and CEO. "Our team executed exceptionally well, delivering a strong same-store sales gain of 4.7% on top of last year’s strong 7.6% comp increase, managing through less than ideal weather conditions for sales of cold weather products and despite less benefit from inflation than last year."
The 1,176-store retailer opened 25 new stores in the fourth quarter of 2012 compared with 31 new store openings in the prior year’s fourth quarter.
For the full year, net sales increased to $4.66 billion, or 10.2% over the prior year’s 53-week period. Same-store sales increased 5.3%. Net income increased to $276.5 million, up 19.5%.