Distribution

Cleveland – The Sherwin-Williams Company reported increases in net sales, diluted income per share and same-store sales during second quarter fiscal 2013. Consolidated net sales increased 5.5% to a record $2.71 billion in the quarter, up from roughly $2.6 billion the previous year. The company credited acquisitions, with some offsetting negative impact from unfavorable currency translation rates, for the net sales boost.

Another sign of further improvement in the nation’s housing market were results from leading paints manufacturer and retailer Sherwin-Williams, whose net sales for the quarter ended June 30 were $2.71 billion, up 5.5% from the same quarter last year. 

Net sales in the Paint Stores Group increased 8% to $1.61 billion. The company's total net income for the quarter was $257.3 million, up 12.9% from the second quarter of 2013.

Pleasanton, Calif. – Safeway reported a substantial decline in net income for the second quarter of fiscal 2013 as well as a drop in sales. Adjusted net income for the quarter was $8.4 million, compared to $122.7 million in the same quarter a year earlier. However, after adjusting for various legal expenses and loss from discontinued operations, net income for the quarter would have been $125.1 million.

New York -- Real estate investment trust W.P. Carey has acquired a Hennes & Mauritz logistics center in Poznan, Poland.

W.P. Carey, through one of its affiliates, purchased the 896,911-sq.-ft. facility for $85 million.

The center, which supplies all of H&M’s Eastern European stores as well as serves as its primary European e-commerce logistics hub, will be leased back to H&M.

San Jose Calif. -- Orchard Supply, which sought bankruptcy protection earlier this year, has won court approval of as much as $176.3 million in bankruptcy financing, according to a report by Bloomberg.

The U.S. bankruptcy court approved the loans that will help fund operations as Orchard pursues a sale of at least 60 of its 91 stores. Lowe’s Cos. has the lead offer of $205 million.

More of a mass market future could be in the cards for the Oreck Corporation following acquisition of its assets this week by TTI Group’s Royal Appliance subsidiary, which manufactures well known home improvement and housewares brands.

Oreck filed Chapter 11 bankruptcy earlier this year and this week the United States Bankruptcy Court for the Middle District of Tennessee approved the sale of its assets to Royal Appliance for a little more than $17 million and the assumption of certain debt obligations.

CITY OF COMMERCE, Calif. — 99 Cents Only Stores announced its financial results for the fourth quarter and full-year fiscal 2013 ended March 30, 2013.

The company's net sales increased 9.7% to $434.8 million for the fourth quarter of fiscal 2013 compared to $396.4 million for the fourth quarter of fiscal 2012. Same-store sales, calculated on a comparable 13-week period, increased 4.4%.  

South Deerfield, Mass. -- The Yankee Candle Co. has appointed Chris Kelly as general manager, Canada, charged with overseeing all aspects of the Yankee Candle business in Canada.