Watsco EPS Jumps 25% Setting New Records for Sales, Operating Profit, Net Income and Operating …

Strong Residential Demand and Gains in Operating Efficiency Drive
120 Basis-Point Operating Margin Expansion;
Nine-Month Operating Cash Flow Increases 89% to a Record $373 Million

MIAMI, Oct. 22, 2020 (GLOBE NEWSWIRE) — Watsco, Inc. (NYSE: WSO) reported record operating results, setting new records for sales, operating income, net income and earnings per share (EPS) during the third quarter and nine-month periods ended September 30, 2020. The Company generated record operating cash flow of $373 million through September 30, 2020, an 89% increase over the same period in 2019.

Watsco’s entrepreneurial culture, which empowers leaders to think and act locally, has proven critically important in response to current business conditions. Technology investments designed to revolutionize Watsco’s customer experience have also proven critical during a challenging operating environment. Notably, adoption of mobile apps and customer-facing platforms, including e-commerce, has grown, enabling more customers to engage digitally. In addition, curbside / dockside technology

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Beauty boom: L’Oreal sales rebound after lockdowns ease

PARIS (Reuters) – L’Oreal, the French company behind Maybelline cosmetics and Garnier shampoo, said on Thursday it was back to revenue growth in the third quarter as it performed well with Chinese customers and kept up its product launches.

FILE PHOTO: Vials of L’Oreal’s luxury range Kerastase Fusio-Dose hair treatment products are displayed at Cuttour hair salon in Jewel Changi Airport in Singapore, May 24, 2019. REUTERS/Loriene Perera/File Photo

Like companies in the luxury goods sector, L’Oreal was hit hard by coronavirus lockdowns earlier this year when stores and airport retailers shut down. It was also hurt by hair salons having to close temporarily, as it sells professional products.

But revenues have since recovered in most divisions, including in the mass market unit that produces ranges like Garnier for sale in supermarkets.

Overall sales came in at 7 billion euros ($8.27 billion), for the July to September period, rising 1.6%

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Messaging Consistency Is Vital For Sales And Negotiation Success

CEO of K&R Negotiations – training sales and business teams – directly assisting with negotiations and business transactions.

I was recently asked to provide my thoughts on how to better align sales and marketing teams for a Forbes Councils expert panel. Given limited space, I answered as follows:

To align the combined sales and marketing team, the messaging and materials need to be consistent. Also, the marketing staff will benefit from sitting in on sales calls and later-stage negotiations to learn more about real-life buyer objections and motivations and how to address them with more compelling marketing approaches that align with customer and sales force expectations.” 

While this is a fine short answer, it deserves a deeper discussion. In our consulting and training practice, we’ve seen major deals disrupted due to inconsistent messaging. I have observed executives backpedal over something their sales rep promised that was unworkable or

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Home Sales Data Is Another Sign To Retailers That Consumer Behavior Might Be Forever Changed

The stay-at-home trend prompted by the coronavirus pandemic has benefited retailers including Home Depot
HD
. The latest tallies from American consumers’ housing purchases suggest those sales bonanzas may not be going away anytime soon. 

Existing-home sales rose for the fourth straight month in September to a seasonally adjusted annual rate of 6.54 million, up nearly 21% from a year ago, the National Association of Realtors said Thursday. The median existing-home price rose about 15%, to $311,800. Total housing inventory dropped to 1.47 million, enough to last 2.7 months—a record low at the current sales pace, the trade group said. 

Properties typically remained on the market for just 21 days in September—also

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Apartments in McKinney and an office building in southwest Dallas were among latest property sales

Sales

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Dallas-based Conti Organization has acquired Rustic of McKinney, a 260-unit apartment complex located at 2700 N Brook Drive in McKinney. The acquisition increases the company’s current Texas portfolio to 32 properties with more than 9,000 apartment units. Taylor Hill, Michael Ware, Jay Gunn, Tom Burns, and Will Jarnagin with Berkadia handled the sale.

Industrial Fabrics Inc. has purchased a 40,100 square-foot industrial building located at 3420 Dalworth Street in Arlington. Blake Wilson with Herrin Real Estate brokered the sale with Michael Stanzel with NAI Robert Lynn.

Houston-based Realty.com has purchase an office building in southwest Dallas. The four-story, 63,000 square-foot office building is at 5787 S. Hampton Rd. in Dallas. The Dallas building was acquired as part of a larger purchase from Oxley Leasing.

Hjjr Inc. purchased 3.5 acres of land in the Mira Lagos community on Joe Pool Lake in Grand Prairie. Demian P. Salmon with

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Surge in luxury home sales highlights the growing U.S. wealth gap

Demand for luxury homes is soaring, underscoring how the COVID-19 pandemic has intensified wealth disparities in the U.S.



a sunset over a city: A beachgoer strolls along Carbon Beach on the Malibu coast. Rising demand for luxury homes amid the pandemic is driving up prices nationwide. (Luis Sinco / Los Angeles Times)


© (Luis Sinco / Los Angeles Times)
A beachgoer strolls along Carbon Beach on the Malibu coast. Rising demand for luxury homes amid the pandemic is driving up prices nationwide. (Luis Sinco / Los Angeles Times)

High-end sales jumped 42% in the third quarter from a year earlier, according to a report from brokerage Redfin. That’s the largest jump dating back to 2013. Sales of mid-priced homes climbed just 3%. Affordable purchases declined 4%.

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While banks tighten credit for first-time buyers, the pandemic is hammering Americans who don’t have the privilege of working remotely. The wealthy, meanwhile, are benefiting from the surging stock market and mortgage rates near record lows.

The cheaper borrowing costs are driving demand for larger properties with more room to quarantine. And with many corporate workers

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STMicro sees more sales growth in fourth-quarter despite Huawei ban

PARIS (Reuters) – Franco-Italian chipmaker STMicroelectronics is expecting strong demand from the car and mobile phone industries to boost sales growth in the fourth quarter as it braces for a loss of revenue from China’s Huawei

FILE PHOTO: A logo is pictured on the factory of STMicroelectronics in Plan-les-Oautes near Geneva, Switzerland, December 6, 2016. REUTERS/Denis Balibouse/File photo

The Geneva-based company, whose major clients include iPhone maker Apple and carmaker Tesla, was also positive on the outlook for 2021, helping its share to reverse declines earlier on Thursday.

STMicro said it was expecting fourth-quarter sales to grow by about 12% from the previous quarter to $2.99 billion and to generate a gross margin of about 38.5%, or two and a half percentage points higher than in the quarter that ended in September.

This forecast takes into account the loss of sales from Huawei, the world’s biggest telecoms equipment maker, following

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Cheer for virus-hit retailers after biggest quarterly leap for sales on record

Official figures show the biggest quarterly leap on record for retail sales, as the sector battles back from the coronavirus lockdown amid renewed restrictions.



a group of people posing for the camera: There has been evidence of shoppers bringing forward Christmas spending because of the virus crisis. Pic: Amer Ghazzal/Shutterstock


© Rex Features
There has been evidence of shoppers bringing forward Christmas spending because of the virus crisis. Pic: Amer Ghazzal/Shutterstock

The Office for National Statistics (ONS) reported a 17.4% jump in volumes in the third quarter of the year covering July to September but a mixed picture for various sectors.

The headline figures were much stronger than analysts had expected given continued consumer caution in the tough COVID-19 economy that has led to a surge in unemployment and forced the chancellor to improve his financial aid to businesses and workers.

Chancellor sets out three extra support measures

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The data showed sales excluding fuel purchases rose by 1.6% in September from August, leaving them 6.4% higher when compared to the

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Fla.’s Housing Market Reports More Sales, Rising Median Prices in September

ORLANDO, Fla., Oct. 22, 2020 /PRNewswire/ — In September, Florida’s housing market reported more closed sales, more new pending sales, rising median prices and more new listings compared to a year ago despite the ongoing pandemic, according to Florida Realtors® latest housing data. Single-family existing home sales rose 22% compared to September 2019.

Florida’s housing sector continues to be a bright spot for the state’s economy amid the ongoing pandemic,” said 2020 Florida Realtors President Barry Grooms, a Realtor and co-owner of Florida Suncoast Real Estate Inc. in Bradenton. “September’s market data shows that there are motivated buyers, but the lack of for-sale inventory is affecting their search for their Florida dream home. Statewide inventory for single-family existing homes last month was at the record low of a 2.2-months’ supply. That imbalance of supply and demand could impact the market in the long-term as housing

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Maine home sales, prices jump 20 percent in hot market driven by out-of-state buyers

Sales of existing single-family homes and prices jumped more than one-fifth in September compared to the same month in 2019, driven by out-of state buyers looking for a safe place to live during the coronavirus pandemic, according to data released by the Maine Association of Realtors Thursday.

Historically low interest rates and more prospective buyers than sellers drove up sales of single-family existing homes by 22.78 percent year-to-year. The median sales price for homes throughout the state in September rose 19.56 percent to $273,500. That is the price indicating that half of the homes sold for more and half for less.

Sales from January through September of this year are 2.6 percent ahead of the same period in 2019, marking Maine’s best year ever, said Tom Cole, president of the Maine Association of Realtors. He said the third quarter of this year saw a solid recovery in sales volume. More

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