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Sherwin-Williams net income slips on higher sales in Q1
Cleveland – The Sherwin-Williams Company reported a slight drop in net income during the first quarter of fiscal 2014, to $115.46 million from $116.18 million. Net sales fared better, rising 9% to $2.37 billion from $2.17 billion.
Christopher M. Connor, chairman and CEO of Sherwin-Williams, cited strong performance in the paint stores group, with slight offset on domestic sales from severe weather, as helping drive consolidated net sales in the quarter. Sherwin-Williams expects consolidated net sales to rise 8%-14% in the second quarter.
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Report: Target increases online subscription assortment
Minneapolis – Target has reportedly increased the number of goods it offers for sale via online subscription from 150 to more than 1,600. According to the Associated Press, Target has also broadened its subscription assortment from baby goods to categories including beauty and home goods.