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PPG reported financial results for the fourth quarter of 2022 and the full-year 2022. Net sales were down slightly from Q4 2021, posted at $4,185,000 for Q4 2022. Net income was also down 11% from $267,000,000 in 2021 to $238,000,000 in 2022. Adjusted net income dropped 4% from $298,000,000 to $286,000,000 in Q4.

For the full year 2022, net sales from continuing operations were approximately $17.7 billion, up about 5% versus the prior year. Organic sales were higher by 8% driven by higher selling prices. Net income in 2022 decreased versus 2021 due to raw material cost inflation, lower sales volumes, unfavorable foreign-currency translation and higher manufacturing costs related to supply and labor disruptions, partially offset by higher selling prices, restructuring cost savings and acquisition-related synergies.

In 2022, the company paid $570 million in dividends. Capital expenditures totaled about $520 million, which was higher than the prior year due to more normalized spending. The company had about $1 billion remaining on its current share repurchase authorization at the end of 2022.

“We continued to make good progress on our focus to achieve full operating margin recovery, as year-over-year earnings improved in both segments despite more acute pandemic-related demand disruptions in China,” says Tim Knavish, PPG president and chief executive officer. “This earnings improvement was driven by aggregate selling price increases that totaled 19% on a two-year stacked basis, as we remained focused on mitigating the significant cumulative cost inflation incurred the past two years.”

“Looking ahead, we remain highly focused on building further momentum to restore margins in line with our historical profile. In the first quarter, we will continue to prioritize supporting our customers through superior service and products, executing our cost-savings initiatives, and optimizing inventory. We expect the overall demand environment to remain consistent sequentially with the fourth quarter with soft economic activity remaining in Europe and China. However, as the year progresses, we anticipate several positive catalysts that will enable earnings improvement, including certain PPG commercial initiatives with our valued customers and the continued rebound in demand for our technology-advantaged aerospace products. Other catalysts include moderating raw material costs, coatings demand stabilization in Europe beginning in the second quarter, and strong economic recovery in China as the pandemic reopening progresses. Finally, with fewer supply chain disruptions we expect ample commodity raw material availability and improved manufacturing efficiencies. Lastly, I am looking forward to leading PPG in my new role and want to thank our customers for selecting PPG as their supplier of choice, our shareholders for their confidence, and our global employees who demonstrate The PPG Way by making it happen every day.”

Fourth Quarter 2022 Reportable Segment Financial Results

  • Performance Coatings segment

$ in millions

4Q 2022

4Q 2021

Y-O-Y change

Net sales

$2,490

$2,507

-1%

Segment income

$272

$243

+12%

Segment income %

10.9%

9.7%

Sales volumes

-4%

Selling prices

+9%

Divestitures and wind down of Russia

-1%

Foreign currency translation

-5%

  • Industrial Coatings segment

$ in millions

4Q 2022

4Q 2021

Y-O-Y change

Net sales

$1,695

$1,683

+1%

Segment income

$155

$105

+48%

Segment income %

9.1%

6.2%

Sales volumes

-5%

Selling prices

+13%

Divestitures and wind down of Russia

-1%

Foreign currency translation

-6%

 





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NRF 2023

Bringing together players from across the retail industry, NRF 2023: Retail’s Big Show featured innovation, …



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Have you submitted a nomination for the North American Hardware and Paint Association’s (NHPA) 2023 Young Retailer of the Year program? The deadline to submit nominations is Jan. 28.

Click here to learn more about the Young Retailer of the Year Program or to submit a nomination.


About the 2023 Young Retailer of the Year Program

The Young Retailer of the Year program is the premier award in the industry honoring the next generation of independent home improvement retailers. Honorees benefit from exposure for themselves and their businesses, and they build a network with like-minded retailers in their generation. Honorees also have the opportunity to participate in additional programming and scholarships through NHPA.


Submitting a Nomination

  • Click here for more information about the program.
  • View or download the program brochure with official rules here.

Judging Criteria

Entries are scored based on nomination criteria, including contributions to operational growth; community involvement; engagement in industry education; and industry and organizational innovation.

Honorees are selected from three categories: stores with less than $3 million in sales; stores with more than $3 million in sales; and multiple-store operations.

Young Retailer of the Year nominees should be 35 years old or younger as of Jan. 28, 2023. They must work at independent hardware stores, home centers, lumberyards or paint and decorating outlets in the U.S., its territories or in Canada. Past entrants who were not chosen as previous honorees are encouraged to submit new applications.


Thank You to Our Sponsors

NHPA would also like to recognize the 2023 program sponsors for their dedication to the independent retailers who are pushing the boundaries of the industry each day. Thanks go to American Hardware & Lumber Insurance (AHLI), Arrow Fastener, Intertape Polymer Group (IPG), Midwest Fastener, Pony Jorgensen, PPG, Stihl and Wooster Brush.



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2023 Spring Reunion





The True Value 2023 Spring Reunion will take place March 16-19 in Chicago at McCormick Place West. In addition to providing independent hardware retailers with the chance to touch and feel new products and have face-to-face interaction with associates and vendors, the buying event will feature:

  • General Session. Reunion will kick off with updates from the leadership team on assortments and strategy on Friday morning, March 17, at 7:30 a.m.
  • Welcome Reception. On Friday, March 17, at 5:00 p.m. attendees can catch up with True Value associates, vendors and fellow retailers on a fun-filled Friday evening.
  • Exciting events. The show floor will feature the popular Spin It to Win It raffle, product demos and a chance to engage with True Value associates and retailers. The Retail Best Practices conference and Assortment City Preview Night will take place on March 16.

True Value will also offer a virtual platform with exhibitor booths and buying areas to accommodate retailers unable to travel to Chicago. The show floor will open at 8:15 a.m. on Friday, March 17, after the General Session, and will close at 1 p.m. on Sunday, March 19. The virtual platform will be available from March 16–April 9. For more information on True Value’s Spring 2023 Reunion, visit truevaluecompany.com/Reunion.





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brand integration

To ensure the company maintains its relentless focus on its member growth initiatives and enhances …



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Bringing together players from across the retail industry, NRF 2023: Retail’s Big Show featured innovation, new ideas and product discovery. Over 30,000 attendees listened to keynote speakers, took part in educational sessions and panel discussions, discovered new products, services and vendors and networked with industry colleagues. 

Lindsey Thompson, senior editor with the North American Hardware and Paint Association (NHPA), attended this year’s show, and she shares her takeaways and insights applicable to the independent home improvement industry. 

Technology Comes to Life

The Expo floor was buzzing with some of the biggest names in retail vendors including Salesforce, SAS, Amazon, Zebra and Theatro. 

In the Startup Zone, some of the brightest and newest companies shared their retail services and products. These breakthrough vendors offered solutions and ideas for retailers across different retail disciplines from food service to fashion. 

Covering the latest trends and topics in technology, the Innovation Lab showcased companies on the forefront of innovation. The companies shared their innovations in artificial intelligence, robotics, Web3, metaverse, virtual reality, autonomous delivery and the Internet of Things. 

Tyler Banken, vice president of information technology for Dunn Lumber Co., was at NRF 2023 exploring the different technology options for his operation. 

“This is actually my first time at the show but I’ve found it has been helpful to introduce me to companies and vendors,” he says. “We’re looking to possibly implement electronic shelf labels, so I’m talking with vendors for that technology, and I’m also exploring options for new customer queues.” 

Vendors to Watch in 2023:

  • PullLogic. Enabling retailers and manufacturers to make it easy to shop, automate the sales process, and have the right products in the right locations to maximize “Product Availability.”
  • Marpipe: Marpipe uses multivariate testing to measure the performance of every possible combination of creative variables in your ads — images, headlines, colors, calls to action and much more.
  • Shiftsmart: Connecting companies with skilled workers to increase fulfillment, reduce turnover, and improve quality

Welcoming New Vendors

With over 50 vendors participating, the Consumer Product Showcase gave up-and-coming entrepreneurs the opportunity to share their products with attendees. 84% of the products featured in the showcase were from minority-owned, women-owned, veteran-owned, disability-owned or LGBTQ+-owned companies. Product categories represented included beauty, fashion, food and beverage, baby care, home, jewelry and pet. Attendees could vote for the coolest product and chose CordBrick as the runner-up, which won $10,000 for its weighted cord holder. First place went to Chica Beauty, a beauty solutions company that won a $15,000 cash prize.

Hot Products to Check Out: 

  • Vitavate. A premium dietary supplement brand intentionally designed to support heart health, energy and focus.   
  • FlexPost. Products include a flexible and easy to install base that provides the perfect long-term solution for parking lot sign posts and bollards.
  • SoilWand. SoilWand is the world’s most unique garden tool, that enables you to add or remove toolheads and adjust them to your specific needs. 

Learning and Growing

From keynote speakers to panel discussions to educational sessions, attendees were able to dive into industry topics and insights. Keynote speakers included decorated Olympian and gymnast Simone Biles, Walmart U.S. president and CEO John Furner, Harvard Business School’s Dr. James Cash, Macy’s chairman and CEO Jeff Gennette, Nordstrom president and chief brand officer Pete Nordstrom, Lowe’s chairman and CEO Marvin Ellison, Kroger CEO Rodney McMullen and actor, producer and writer Kal Penn. 

Numerous panels addressed technology and how it fits into your operation to make your employees and business more efficient. Customer engagement and experience was another popular topic for the sessions, along with the future of physical stores and omnichannel strategies. 

Key Takeaways: 

  • “At Neighborhood Goods, we try to foster and maintain magnetism and give reasons for people to visit. We avoid the gimmicky, it has to be relevant for our customers. Fundamentally, retail is a traditional experience, and while tech is great you need to stay grounded in what works for you and your customers.” —Matt Alexander, co-founder and CEO of Neighborhood Goods
  • “At Studs, it’s our team that brings our customer experience alive and the physical store sets the backdrop for an amazing experience. The company came to be because we looked at what didn’t exist in the marketplace and saw ways we could make that missing piece a viable business.” —Anna Harman, co-founder and CEO of Studs
  • “In retail, you’re in the convenience business. Focus on designing innovative solutions to remove friction and hurdles, creating point of sale experiences that encourage purchases and hunting out moments of waste or frustration through technologies like cashierless, delivery, product access and seamless payments.” —Cassidy Beadle, Retail Client Innovation director for accenture
  • “Technology and innovation should be all about what’s best for your customers, not necessarily what’s the latest and greatest out there. When implementing any new technology, it’s okay to fail, just fail fast and know when to shut it down.”—Yevgeni Tsirulnik, senior vice president, Innovation and Incubation for Toshiba Global Commerce Solutions



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Settling back into a regular market schedule, House-Hasson hosted its 2023 Winter Market last week in Nashville, Tennessee, at the Gaylord Opryland Resort. 

“Nashville is obviously a huge draw, it’s a great destination spot,” says House-Hasson vice president of sales Pat McCutcheon. “We’ve been hosting our winter market here for several decades, and the dealers love it because they know they are going to get a comfortable atmosphere and really enjoy spending time here.”

McCutcheon says this market featured over 50 new vendors, sharing new products and trends to keep retailers on the cusp of what’s new and what their customers want and need. 

“We have been able to bring many new vendors, including numerous vendors that haven’t participated in the last several years,” he says. “This year’s vendor participation was outstanding, and we’re really excited to welcome back vendors who haven’t been able to participate in the last couple of years.”

The event included four seminar sessions with vendors, including Valspar, 1-800-REPAIRS, Voya and New Retail Media. McCutcheon says this year’s mix of seminar vendors offered something different to attendees.

“Voya offers a new program that allows dealers to set up retirement programs for their employees, which is huge because normally smaller businesses don’t have access to those types of programs,” McCutcheon says. “1-800-REPAIRS is a new company with an innovative concept, and New Retail Media offers cutting-edge website development. So having those organizations here gives our attendees a little something extra.”

Attendees appreciated those unique opportunities for product discovery. As a new retailer with House-Hasson, Andy Black of Custom Service Company in Guntown, Mississippi, says he was looking mostly for plumbing products. His company deals mainly in plumbing and specifically, septic systems, and as he works to open a storefront this year, is partnering with House-Hasson to try to make that happen. 

“Right now, all of our customers who need products have to pick them up in our warehouse. It would be great to have a physical storefront to better serve our customers,” Black says. “As my first market, I’m interested in figuring out the logistics of having a storefront.”

Cathy Crowley and Rose Wilson were attending the market, looking for products for their store Crescent Springs Hardware in Crescent Springs, Kentucky. They normally make the market trip extra fun by dressing up for each one and this year, opted for Cincinnati Bengals gear to cheer on their favorite team. 

“We always love product discovery at the market,” Crowley says. “We’re a well-established store in northern Kentucky and are always on the lookout for those products and booths that can freshen up our store.”

Gary Stout from Stout Lumber in Litchfield, Ohio, was also on the hunt for new products for his long-standing family-run company. 

“My main goal at this market is to find deals and products that will be a good fit for our store,” Stout says. 

House-Hasson retailers won’t have to wait long for additional product discovery. The House-Hasson 2023 Summer Market will take place June 15-17 at the Sevierville Convention Center in Sevierville, Tennessee.



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The Worcester Business Journal (WBJ) recently announced that it is recognizing Koopman Lumber, a family-owned and -operated business with 11 locations in Massachusetts, as the “Best Family-Owned Business” in its Best of Business Awards.

“This award means a lot to us because we are proud to be a family-owned business that honors the same values our grandfather, Peter T. Koopman, established when he founded Koopman Lumber in 1939,” says Dirk Koopman, CEO of Koopman Lumber. “Every day, we strive to meet the high standard he set so many years ago. Honesty, integrity and hard work undergird all we do at Koopman Lumber.”

Koopman is now co-owned by its third generation. Dirk Koopman’s sister, Denise Brookhouse, is the company’s CFO and her husband, Tony Brookhouse, serves as COO. Koopman’s son, Peter Koopman, and his daughter, Sarah Thomas, also play key roles within the organization as part of the fourth generation of the Koopman family.

Denise Brookhouse noted, however, that the Koopman name does not guarantee employment in the family business.

“Our rule is that family members have to work four years somewhere else before they can join the company,” she says. “Once they do, they complete a series of 9-to-11-month rotations within different areas of the business. They also work with outside consultants and are reviewed by other employees who are not relatives before their career path is developed.”

The WBJ’s Best of Business Awards, which will be held on Thursday, January 26, at the Beechwood Hotel in Worcester, celebrates the business-to-business companies in Central Massachusetts that have been recognized by their peers as the “best of the best.”

Professional builders and remodelers make up about 90% of Koopman’s client base. Their locations include three full-line lumber, hardware, paint, lawn and garden stores in Whitinsville, Uxbridge and North Grafton; one lumber, hardware, paint and kitchen design center in Sharon; a full-service paint store in Milford; lumber yards and kitchen design centers in Hudson, Andover, Fairhaven and Indian Orchard; and distribution centers in Uxbridge and Sutton. A new location in Dennis on Cape Cod is currently under construction and expected to open in April 2023.

About Koopman Lumber & Hardware

Family-owned and operated since 1939, Koopman Lumber & Hardware has 11 Massachusetts locations including three full-line lumber, hardware, paint, lawn and garden stores in Whitinsville, Uxbridge and North Grafton; one lumber, hardware, paint and kitchen design center in Sharon; a full-service paint store in Milford; lumber yards and kitchen design centers in Hudson, Andover, Fairhaven and Indian Orchard; and distribution centers in Uxbridge and Sutton. They specialize in building materials and supplies including lumber and hardware, molding and millwork, tools, power equipment, windows and doors, engineered lumber, kitchen and more. An extensive network of outside sales professionals delivers expertise in lumber, millwork, kitchens and paint. To learn more, visit koopmanlumber.com.



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To ensure the company maintains its relentless focus on its member growth initiatives and enhances the infrastructure to support them, Do it Best has set up two proven leaders as senior sales directors and aligned several other leadership roles with strategic sales responsibilities. Effective immediately, Eric Knox is the director of business development and Mike Melchi is the director of field sales.

Knox moves into his role with more than 20 years of experience in sales, marketing, product development and retail experience. Before joining the Do it Best team as a regional sales manager in 2018, he worked as a director of sales and marketing for a trading company focusing on brand development. Prior to that, he worked at Ace for more than a decade as both a regional sales manager and a corporate store manager.

Melchi got his start in the industry while working as a sales associate at a home center during college. He joined Do it Best in 2004 as an associate sales consultant, earning promotions as a member services supervisor and territory sales manager. These experiences provided him with a deep understanding of the challenges store owners face as well as the opportunities they have to support their local communities. He was promoted to regional manager in 2019 where he led the Midwest sales team as they helped members increase their sales and profits.

With Knox and Melchi stepping into their new roles, Ty Surrell and Tony Miner have been promoted to the open regional manager positions. Surrell’s background in education, sales, real estate, and distribution led to him joining the Do it Best team in 2019 as a territory sales manager. Working with his members, he’s helped create highly effective strategies to drive their growth and profitability. Miner has nearly 30 years of experience in the home improvement sector, from frontline retail operations to setting sales strategies for national paint lines. These strengths brought him to Do it Best in 2018, where, as a territory sales manager, he consulted with store owners on profitably growing their businesses by expanding into new locations and strategic acquisitions.

Along with these promotions, three other leadership roles have been refined with new responsibilities. Chris Beach is now the director of national accounts/mergers & acquisitions. Christian Parra is the director of INCOM and international sales and Rob Schmiedel is the director of sales operations.

“These organizational enhancements are designed with one objective in mind,” says Greg Fuller, vice president of sales and business development. “We’re committed to being an even more effective sales-driven organization focused on helping our members grow. We’ve built tremendous momentum over the last several years, and I’m confident these leaders will help us generate even more success for our member-owners and Do it Best in the years ahead.”



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Sleep Sound Machine
The LectroFan EVO sleep sound machine uses state-of-the-art technology to generate dynamic, realistic fan sounds, white noises and ocean sounds to help block intrusive noises. It features ten fan sounds, ten white, pink and brown noises and two variations of ocean noise. The Evo includes a headphone connector and portable speaker to match your environment and sleep style.

Adaptive Sound Technologies | asticorp.com


Laundry Basket
The 40 Liter Ribbed Laundry Hamper features a decorative ribbed design and two cut-out handles. Its large size accommodates plenty of laundry, and the plastic hamper lid is lightweight yet durable. It comes in various colors including White Smoke, Grey, Brown, Stone Blue, Lilac, Taupe, White and Ecohome.

Superio | superiobrand.com


Weighted Blanket
This weighted comforter provides the relaxing benefits of deep pressure therapy and is made from 100% cotton fabric with a 300-thread count. The blanket can be used as a separate blanket or inside a duvet cover and comes in three sizes, twin, full/queen and king. 

Eli & Elm | eliandelm.com


Leather Care
Leather Honey restores and protects all types and colors of leather. The nontoxic, water-repelling formula offers six months of protection. The easy-to-apply formula is natural, safe, made of high-quality ingredients and makes your leather last longer. The Leather Care Kit contains an 8 oz. leather conditioner, 8 oz. leather cleaner and two lint-free application cloths.

Leather Honey | leatherhoney.com


Crystal Knob
Reserve Contemporary Crystal Knob is a modern, timeless design that serves as an updated take on the traditional crystal knob. The Contemporary Crystal Knob is part of Baldwin’s Reserve™ Portfolio and can be paired with any of Baldwin’s contemporary finishes or beautiful rose designs. Each Contemporary Crystal Knob is available in Full Dummy, Half Dummy, Passage and Privacy functions as well as six finishes (PVD Lifetime Satin Brass, Polished Chrome, PVD Lifetime Polished Nickel, Satin Nickel, Satin Black and Venetian Bronze). 

Baldwin® Hardware | baldwinhardware.com


Dual Temperature Hot Glue Gun
The BLACK+DECKER Dual Temperature Hot Glue Gun is ideal for crafts and repairs. It can be used on the low-temperature setting when being used on more delicate materials like ribbon, silk florals, Styrofoam, burlap and lace, and the high-temperature setting for applications where a strong bond is required, like with wood, plastic and thicker fabrics.

Black + Decker | blackanddecker.com


Fire Starter
Start a fire in seconds, even in the rain or snow or with damp, frozen or fresh-cut wood with Pull Start Fire. The fire starter burns up to 2.5 times hotter than leading brands and for over 30 minutes. Additionally, it comes with multiple built-in safety features. 

Pull Start Fire | pullstartfire.com


Hybrid Adhesive Anchoring System
MasterEmaco ADH 612 is a two-component, code-compliant, high-performance adhesive anchoring system tested to ACI 355.4 and ICC-ES AC318. The silane-cementitious hybrid formulation is a three-to-one mix ratio by volume providing outstanding performance with a wide installation temperature range between 5 to 104 F. It will cure fully in 45 minutes at 77 F and withstands freeze-thaw conditions.

Master® Builders Solutions | master-builders-solutions.com


Eye Visor
Compatible with all Milwaukee® Head protection, the new BOLT™ Eye Visors are designed to provide users with the best fit and easy headlamp use. The visors are classified as spectacles and can be used in place of safety glasses with a Z87.1+ rating. Built to withstand the harsh conditions of the  job site, the eye visor lenses are treated with an anti-scratch exterior hard coating and a lasting fog-free interior coating.

Milwaukee Tool | milwaukeetool.com


Cow Driver Gloves
The Makita 100% Genuine Leather Cow Driver Gloves are made with Durahide Leather™ technology, offering a breathable glove that is ready to wear with no break-in time. The gloves are water, oil and fluid resistant and feature an open cuff design for easy slip-on and breathable material for comfort.

Makita USA Inc. | makitatools.com


Paint Brush
The Round Brush is ideal for paint jobs involving anything round or cylindrical and any ornate details. Unlike traditional square brushes, the round brush head conforms to the shape of the object being painted, resulting in great coverage and a smooth finish. 

Zibra | enjoyzibra.com


Cut-Out Tool
The Brushless Cut-Out Tool has an IP 5X-Rate Dust Resistant Switch to prevent dust from getting into the switch and a dust hood that attaches to a vacuum to contain drywall while cutting. It also comes with a convenience brake to quickly stop the tool and Soft-Start Technology to reduce the startup torque.”

Bosch | boschtools.com



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Smart energy management devices such as thermostats and smart lighting are entering more homes, giving people greater control over their energy use and more options for altering the ambience of their surroundings, says Steven Hummel, manager of market research for the Consumer Technology Association (CTA). According to the CTA’s Exploring the Smart Home in 2022 report, over 70% of households in the U.S. own at least one smart home device. Mordor Intelligence found that the worldwide connected home market is projected to grow at a compound annual growth rate (CAGR) of 25% from 2020 to 2025. 

“Given current economic and geopolitical conditions like the impending global recession and the ongoing war in Ukraine, U.S. consumers will increasingly look to savings where they can, especially where it keeps energy costs down,” Hummel says. “Beyond smart energy management, connected appliances will continue to offer convenience, customization and easier ways to get things done in the kitchen and around the home.”

As more and more consumers look for smart solutions in their homes, consider stocking these smart energy management devices and appliances:



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A new year brings new resolutions, and one of the hot topics the past few years has been organization. Keeping everything organized and in its place can make a huge difference in any size space. Supplying various types of multipurpose containers could bring a large influx of customers looking for ways to keep their belongings organized. 

Rubbermaid is a name known for its various organization sets. From food storage to outdoor organization, Rubbermaid has almost every aspect of organization covered for your customers. Many kitchen organization items, such as bins and containers with lids and dividers can be used around the house, making them a versatile option. Provide pictures or examples of how items can be organized, such as food, cleaning products, clothes, toys, and more to encourage sales. 

While more focused on food storage, YouCopia offers innovative and affordable storage bins designed for both food storage in the pantry and the fridge, as well as racks and stands for cupboards and cooking pots. There are even stands for Tupperware container lids, which is a huge boon in the kitchen.

ClearSpace creates sleek and affordable containers that come in individual packs with lids and dividers. These are designed to work anywhere in the home, and with additional lids, these organization containers can be stacked for maximum organization. In addition to coming in individual containers, ClearSpace also offers their clear organization bins in packs of four for a more affordable option.



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