News

WD-40 Co. posts Q3 gains

BY HBSDealer Staff

San Diego-based WD-40 Co. saw net sales increase 7% in the third quarter, as the company’s multi-purpose maintenance products showed double-digit growth.

WD-40 sales were $93.1 million in the quarter ended May 31, compared to sales of $87.0 million in the year-ago period. Net income for the third quarter was $10.3 million, up 12%.

As multi-purpose products — such as the namesake WD-40 lubricant, 3-IN-ONE and Blue Works brands — were up 12% in the quarter, homecare and cleaning products sales were down 18%. The former were described as the "primary focus" for the company, while the latter are becoming a smaller part of the business. 

"We have confidence in our ability to continue to leverage the WD-40 shield and to create solid growth in our core product lines," said Garry Ridge, WD-40 president and CEO. "As we continue to clebrate our 60th anniversary as a company, we are thinking big about our future."

WD-40 reported Americas segment sales in the quarter were $47.6 million, up 8%. Europe segment sales in the quarter were $32.5 million, also up 8%. The company also said it sees long-term opportunities throughtout Asia, particularly in China.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

How concerned are you that a trade war could hurt your business?
News

Benjamin Moore goes on charity painting spree

BY HBSDealer Staff

After weighing votes and reviewing entries for 130 communities, Benjamin Moore has announced the 20 U.S. and Canadian towns that will benefit from its Main Street Matters program this year. The paint retailer will extend a hand in revitalizing the deserving communities with a fresh coat of paint for downtown businesses.

The winning towns include Attleboro, Mass.; Ellicott City, Md.; Flint, Mich.; Greeley, Col.; Halifax, Nova Scotia; Hawley, Pa.; Hilo, Hawaii; Joplin, Mo.; Macon, Ga.; Martinez, Calif.; Nyack, N.Y.; Penticton, British Columbia; Placerville, Calif., Sanford, N.C.; Sea Bright, N.J.; Sheboygan, Wis.; Stouffville, Ontario; Texarkana, USA; Westerly, R.I.; and Xenia, Ohio.

The selected communities will see work begin this summer and continue through next year. Benjamin Moore will provide the paint, stain and various supplies needed to spruce up downtown exteriors. The company will receive help from a few of its partners in collaborating with local businesses, municipalities, and Chambers of Commerce, who will assist in determining areas to be painted along with Benjamin Moore color experts.

"We’re thrilled about the enthusiasm and passion from local businesses and communities around for Main Street Matters," said David Melançon, CMO of Benjamin Moore & Co. "The incredible response is a testament to how strongly people feel for their community, and we hope this movement continues to drive support for local businesses, as every Main Street has a story."

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

How concerned are you that a trade war could hurt your business?
News

Asking home prices post robust growth in June

BY HBSDealer Staff

June was a strong month for asking home prices in the U.S., marking a 10.7% increase in year-over-year figures, according to the latest findings from Trulia. Nationally, asking home prices bottomed in February 2012 — but the turnaround has been uneven.

Without foreclosures factored into the mix, asking prices rose 11.4%, which, according to Trulia analysis, indicates that the growth largely relies on factors outside of the shift away from distressed homes. The company stated that growth would eventually slow as mortgage rates rise, supply grows and demand weakens.

Regionally, growth was a consistent factor in 99 out of the 100 largest metro regions. Among those with the strongest recovery rates (7% or more) were Edison-New Brunswick, NJ; Chicago; Lake County-Kenosha County, IL-WI; and Baltimore.

The figure was based off the Trulia Price Monitor and Trulia Rent Monitor, which monitor Trulia listings and track monthly changes and trends.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

How concerned are you that a trade war could hurt your business?