FINANCE

Sherwin-Williams grows net income, sales during Q3

BY Dan Berthiaume

Cleveland – The Sherwin-Williams Company increased net income 12%, to $262.97 million from $234.95 million, during the third quarter of fiscal 2013.

Net sales grew 9.4% to $2.85 billion from $2.6 billion.

Sherwin-Williams cited higher paint sales volumes in its Paint Stores Group and acquisitions as helping to drive net sales growth. In September 2013, the retailer completed the acquisition of the Comex U.S. and Canada businesses which added an additional 306 stores, and during the quarter purchased 1.5 million shares of its common stock through open market purchases.

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REAL ESTATE

Lane Bryant opens three new stores, relocates one unit

BY Dan Berthiaume

Columbus, Ohio – Lane Bryant opens three new locations and a relocated store on Oct. 25. The stores are all located at shopping centers.

The new stores are located at Miracle Mile Shopping Center in Monroeville, Pa., Rushmore Shopping Center in Rapid City, S.D., and Commons at Magnolia in Florence, S.C. Lane Bryant also opens a relocated store outside of The Promenade at Millcreek Mall in Erie, Penn. on Oct. 25.

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REAL ESTATE

Saks to open renovated in-store men’s store in Boca Raton, Fla.

BY Dan Berthiaume

New York — Saks Fifth Avenue is set to unveil a newly renovated men’s store at its Boca Raton, Fla., location in the Town Center at Boca Raton on Nov. 20.

The renovations focus on several enhancements, including six new dedicated vendor shops from Corneliani, Dolce & Gabbana, Ermenegildo Zegna, Armani Collezioni, Hugo Boss and Ralph Lauren Black Label, plus a denim shop and a new space for the exclusive Saks Fifth Avenue Men’s Collection.

Saks Fifth Avenue’s newly designed space is divided into sections focusing on different South Florida lifestyles. Design details include a handcrafted cerused oak floor from the Netherlands. A mix of found tables from Cliff Young, Julian Chichester and Lepere sit alongside accent chairs from Bright Furniture.

In a nod to menswear fabrics, linen and leather inspired wallcoverings are woven throughout the store. The accessories area will house inviting new display cases and sunglass walls with custom-made metal art screens. A hand-chiseled marble slab will serve as the focal point of the shoe space, with a sculptural Lindsey Adelman chandelier and custom banquettes for easily serviceable seating.

“Through these innovative renovations, Saks is thrilled to offer our customers exciting new lifestyle shopping experiences,” said Tom Ott, senior VP and general merchandising manager for men’s, home and gifts at Saks Fifth Avenue.

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