Home Channel News NewsFax articles from August 2002

Home Channel News NewsFax archives from August 2002

TruServ's SEC certification rejected. (Breaking News).(Brief Article)
August 26, 2002... TruServ, the member-owned co-op based in Chicago, is one of about a dozen companies whose CEO's and chief financial officer's sworn certification statements were rejected by the Securities and Exchange Commission. The SEC is...

Lowe's reports strong earnings. (Financial News).(Brief Article)(Statistical Data Included)
August 26, 2002... Lowe's, the Wilkesboro, NC-based home channel retailer reported sales of $7.5 billion for its second quarter--a 22 percent boost compared with S6.1 billion in the same quarter a year ago. Net income jumped 41 percent to reach 5467 million,...

Home Depot reports record earnings. (Financial News).(Brief Article)(Statistical Data Included)
August 26, 2002... Home Depot of Atlanta reported second-quarter sales of 516.3 billion for the period ended Aug. 4. up 12 percent from sales of S14.6 billion in the same period last year. Net earnings for the quarter were 51.18 billion, a 28 percent increase...

TruServ reports profit in July. (Financial News).(Brief Article)(Statistical Data Included)
August 26, 2002... TruServ, the Chicago-based member-owned coop. reported a net profit of S3.5 million for the month ended July 27. compared to a net loss of S2.3 million for the same period a year ago. The co-op also reported revenue of $167.4 million for the...

Castorama shares to resume trading. (International Updates).(Brief Article)
August 26, 2002... Shares in French home improvement retailer Castorama will resume trading on the Paris stock exchange today, after a hiatus of f cur business days, according to a Dow Jones report While Castorama did not offer a formal explanation for the...

Home Depot Canada donates C$1 million. (International Updates).(for development, building of safe community playgrounds)(Brief Article)
August 26, 2002... Home Depot Canada is allocating 1 million Canadian dollars (USS642,485) in cash and materials for the development and building of safe community playgrounds. Since 1995, Home Depot has funded KaBoom (1), a U.S.-based non-profit organization...

Black & Decker enters pact with Hitachi Koki. (International Updates).(Brief Article)
August 26, 2002... Black & Decker, the Towson, Md-based power tool manufacturer, has entered into a partnership with Hitachi Koki, headquartered in Tokyo. The two companies will source products from one another, exchange technology. cross-license patents and...

Lanoga hires former Wickes executive. (Company Update).(George Finkenstaedt )(Brief Article)
August 26, 2002... Lanoga Corp., the Redmond, Wash.-based pro dealer based here, has named George Finkenstaedt as its vp-market development, a newly created position. The 22-year veteran of the building products business comes to Lanoga from the Vernon Hills,...

More women tackle projects on their own. (Industry Update).(Brief Article)(Statistical Data Included)
August 26, 2002... A national survey commissioned by Lowe's, the Wilkesboro, N.C.. home channel retailer, finds more women than ever before are savvy about home improvement. and they're tackling more DIY projects on their own. Lowe's second annual survey of...

Analyst fired for allegedly tipping off investors. (Industry Update).(Peter Caruso fired from Merrill Lynch over Home Depot stock downgrade warning)(Brief Article)
August 26, 2002... Merrill Lynch, the nation's largest securities firm, has fired analyst Peter Caruso for violating its disclosure policy when he allegedly warned clients of his plans to downgrade Home Depot stock. On July 12, Caruso downgraded Home Depot...

Stock watch.(various home centers, lumber stores)(Brief Article)(Illustration)(Statistical Data Included)
August 26, 2002... STOCK WATCH 8/23 8/16 % Chg. % Chg. Company Close Close In Week Yr. Ago BMHC 13.36 13.60 (1.76) 23.13 DIY Home Warehouse 0.80 0.80 0.00 (20.00)...

Sears sues tool-maker Emerson. (News Briefs).(Brief Article)
August 19, 2002... Sears has filed a lawsuit against Emerson, the St Louis manufacturer of tools, appliances and electronics products, claiming that the company used Sears machines to make tools that compete with its Craftsman line. The manufacturer had access...

Gates invests in Home Depot stock. (News Briefs).(Bill Gates )(Brief Article)(Statistical Data Included)
August 19, 2002... Microsoft chairman Bill Gates has purchased 1 million shares of Home Depot stock valued at $36.7 million, according to an Associated Press report The purchase was made through his companies, Cascade Investment and Bill & Melinda Gates...

Ace signs 'Mr. Fix It' as spokesman. (News Briefs).(Lou Manfredini appointment)(Brief Article)
August 19, 2002... At the 2002 National Hardware Show, Ace Hardware signed Lou Manfredini, also known as Mr. Fix It, as the co-op's new editorial media spokesman and official "Helpful Hardware Man." Manfredini is a home builder and regular contributor to...

Consolidation, change at Hardware Show. (Show Report).(National Hardware Show )(Brief Article)
August 19, 2002... Home channel industry trends were evident at a consolidated National Hardware Show in Chicago. This year's event, which began on Aug. 11, featured a housewares pavilion for the first time. According to show spokeswoman Beth Blake, the...

Chief of Pergo North America ops resigns. (International Update).(Lars von Kantzow resignation)(Brief Article)
August 19, 2002... The president and CEO of Pergo's North American operations has resigned, according to a company press release. The Trelleborg, Sweden-based flooring manufacturer says Lars von Kantzow will leave the company on Oct. 1 to "pursue other...

TruServ taps Harrison for board of directors. (Company Update).(Judith Harrison appointment)(Brief Article)
August 19, 2002... TruServ, the member-owned cooperative based in Chicago, has appointed Judith Harrison, the principal and senior consultant of Judith Harrison and Associates, to its board of directors. Harrison will stand for election at the co-op's next...

DA, Pro Group to hold joint conference. (Industry Update).(Distribution America and Pro Group)(Brief Article)
August 19, 2002... Wholesale marketing groups Distribution America and Pro Group announced at the National Hardware Show last week that they are planning a joint 2003 Executive Partnership Conference to bring together distributor-members and manufacturers from...

Arsenic-treated lumber findings released. (Industry Update).(Brief Article)
August 19, 2002... A panel of Florida doctors appointed by that state's Department of Health says arsenic-treated wood does not pose a health risk, according to an Associated Press report. After spending a year reviewing medical studies, the six doctors on...

Stockwatch.(home center store stock prices, includes data for August 16)(Brief Article)(Illustration)(Statistical Data Included)
August 19, 2002... STOCK WATCH 8/16 8/9 % Chg. % Chg. Company Close Close In Week Yr. Ago BMHC 13.60 12.90 5.43 25.35 DIY Home Warehouse 0.80 0.80 0.00 ...

ServiceMaster makes deal with Sears. (News Briefs).(Sears Parts and Repair Services division, ServiceMaster Co.)(Brief Article)
August 5, 2002... ServiceMaster has announced a partnership with Sears Parts and Repair Services division, which makes in-home repairs on kitchen and laundry appliances, tractor mowers and televisions. Sears technicians will make house calls to ServiceMaster...

NationsRent to stay with Lowe's. (News Briefs).(financial data for NationsRent Inc.)(Brief Article)
August 5, 2002... NationsRent has reported a net loss of $31 million for its first quarter, which ended on March 31. These figures compare to a net loss of S27 million for the same period in 2001, an overall decrease of 14.8 percent. Sales revenues for the...

Weed Wizard coming off market. (News Briefs).(U.S. Home and Garden Inc. closing Weed Wizard weed trimmer division)(Brief Article)
August 5, 2002... U.S. Home & Garden has announced it will close its Weed Wizard division, which has experienced a "continuing erosion in its business over the past few years," according to a company statement. Operations will cease on Sept. 30. U.S. Home &...

WTO strikes blow against lumber tariffs. (Breaking News).(World Trade Organization rules against United States duties on Canadian lumber imports)(Brief Article)
August 5, 2002... A World Trade Organization (WTO) panel has ruled that the United States erred when it imposed duties on Canadian lumber imports. Although only a preliminary finding, the WTO's position bodes well for Canadian producers, U.S. retailers and...

Stanley Works says 'no' to Bermuda. (Breaking News).(reincorporation in Bermuda)(Brief Article)
August 5, 2002... After nearly three months of intense pressure from congress and state officials, Stanley Works' board of directors has decided the company will not reincorporate in Bermuda after all. The toolmaker has been under scrutiny since Stanley...

ImproveNet, eTechLogix renew merger plans. (Breaking News).(Brief Article)
August 5, 2002... ImproveNet, the online home services provider that links remodelers and homeowners, has signed an agreement to merge with eTechLogix, a developer and marketer of business software applications for the building materials industry. The merger...

Huttig Building Products reports 2Q net loss. (Financial Updates).(Brief Article)
August 5, 2002... Building materials supplier Huttig Building Products announced sales of $220.8 million in the second quarter, down 11 percent from $249.3 million in the same period last year. The company reported a net loss for the quarter, which ended June...

Newell Rubbermaid reports 2Q growth. (Financial Updates).(Brief Article)(Statistical Data Included)
August 5, 2002... Newell Rubbermaid, the manufacturer of hardware, housewares and home furnishings based here, announced that net sales for the second quarter grew 9.9 percent to $1.9 billion, up from $1.7 billion in the same quarter last year. The increase...

Masco reports sales increase in 2Q. (Financial Updates).(Brief Article)(Statistical Data Included)
August 5, 2002... Masco, the manufacturer of Delta faucets and KraftMaid cabinets, reported net sales for the second quarter increased 12 percent to $2.3 billion up from $2.1 billion in the second quarter last year. Net income for the quarter ended June 30...

Rona meets with dealers. (International Updates).(modify bylaws and statutes)(Brief Article)
August 5, 2002... Rona, the member-owned buying group based in Boucherville, Quebec, met with its dealers and shareholders this week to discuss proposed changes to the organization's bylaws and statutes. The modifications are a follow-up to Rona's acquisition...

Hanson plans expansion. (International Updates).(Brief Article)
August 5, 2002... International building products group Hanson is looking to make some acquisitions, according to an article in the London Evening Standard. The company, which improved margins and lowered expenses last year, plans to spend 10 times more on...

Dow wants to pull its weed killer. (Industry Updates).(Dow AgroSciences)(Brief Article)
August 5, 2002... Dow AgroSciences, a subsidiary of Dow Chemical, wants to pull its own weed killer from store shelves after reports that it may be destroying some homeowners' vegetable gardens. The company made its request to the U.S. Environmental...

GE tops list of valuable corporate brands. (Industry Updates).(General Electric)(Brief Article)
August 5, 2002... General Electric is the world's most valuable corporate brand, according to a study of more than 1,000 brands by CoreBrand, a global brand strategy and communications firm. GE, based in Fairfield, Conn., topped the list with a $61.2 billion...

Stock Watch.(statistics)(Brief Article)(Illustration)(Statistical Data Included)
August 5, 2002... STOCK WATCH 8/2 7/26 % Chg. % Chg. Company Close Close In Week Yr. Ago BMHC 13.80 10.90 26.61 27.19 DIY Home Warehouse 0.80 0.80 0.00 (20.00)...