WOLF to distribute Boral TruExterior Siding
York, Pennsylvania-based WOLF will be the newest distributor of Boral TruExterior Siding to independent dealers in its East Coast territory.
The move is part of a larger strategic shift at WOLF, which has been transitioning itself from a traditional two-step distributor into a sourcing company with its own products (in addition to those from other brands).
TruExterior mimics the look and feel of real wood, but is resistant to rotting, cracking, splitting and termites. Its performance-based, dimensionally stable composition promises longer-lasting looks, and it’s relatively easy to install with standard woodworking tools and methods.
Additionally, the siding can be painted any color to match each homeowner’s design preferences.
Lowe’s posts double-digit earnings growth
On Wednesday morning, it was Lowe’s turn to deliver strong quarterly earnigns.
And the Mooresville, North Carolina-based retail giant did just that. The company reported net earnings of $1.04 billion for the quarter ended Aug. 1, marking a 10.4% increase over the second quarter last year. Sales for the quarter were up 5.7% to $16.6 billion, as comparable-store sales were up 4.4%.
"We were able to recover most of the outdoor product sales missed in the first quarter due to unfavorable weather conditions," said Robert Niblock, president and CEO.
Lowe’s released its results one day after rival Home Depot reported a strong quarter, including a 5.8% comp-store gain.
For Lowe’s, the expectation is that home improvement spending will continue to grow in concert with job and income growth. The company’s forecast for earnings per share remains unchanged, but Lowe’s made a "modest reduction" to its sales outlook for the year, based partly on year-to-date performance. For the year, total sales are expected to increase about 4.5%, as comps are expected to increase about 3.5%
The company operated 1,837 home improvement and hardware stores as of Aug. 1, representing 200.8 million square feet of retail space.