- PPG Industries (NYSE:PPG) -2% premarket after Lowe's (LOW) said it would discontinue the sale of Olympic paints and stains in its U.S. retail stores beginning in mid-2018.
- PPG says it is disappointed with the decision but "will create an opportunity to expand the distribution of its products, including Olympic brand products, through PPG stores, dealers and other distribution partners."
- PPG says sales at Lowe’s stores in the U.S. represent less than $300M of its annual sales, although the chain provided a primary sales channel for a number of PPG’s brands.