Home Channel News NewsFax articles from August 2005

Home Channel News NewsFax archives from August 2005

Menards adopts new data warehouse.(Brief Article)
August 29, 2005... Menards, the third-largest U.S. home center chain, has installed a data warehouse and supporting software through an agreement with Teradata, the Dayton, Ohio-based data warehousing provider. Menards will use the data warehouse to collect...

True Value's second-quarter sales slip.(True-Value Hardware)(Brief Article)
August 29, 2005... True Value, the hardware co-op based in Chicago, reported second-quarter revenues of $551.6 million, a decrease of 4.1 percent from revenues of $575.3 million for the same period a year ago. Net margin for the second quarter was $19.4...

Orgill unveils programs at fall market.(BREAKING NEWS)
August 29, 2005... Looking to help create new market opportunities for its retailer customers, Orgill welcomed more than 4,000 stores to its fall market in Atlanta with an assortment of new products and programs including a fresh rental offering and completely...

Home Depot, Ryder ink logistics pact.(BREAKING NEWS)
August 29, 2005... Ryder System, the supply chain, warehousing and transportation management provider based in Miami, has been awarded a multi-year contract with Home Depot, the world's largest home channel retailer. Under terms of the agreement, Ryder...

Canadian Tire opens new flagship store.(INTERNATIONAL NEWS)
August 29, 2005... Canadian Tire has unveiled its latest retailing model with the opening of a new 63,000-square-foot store in downtown Vancouver. Specifically developed for the Vancouver market, the store features West Coast-inspired interior features, such as...

U.S. sales fuel James Hardie.(James Hardie Building Products Inc.)(Brief Article)
August 29, 2005... James Hardie, the Australian building products manufacturer with U.S. headquarters in Mission Viejo, Calif., reported first-quarter sales of US$359.4 million, up 17 percent. Fiber cement siding sales in the United States increased 19 percent...

Remodeling market still strong.(INDUSTRY UPDATES)(Brief Article)
August 29, 2005... The National Association of Home Builders' Remodeling Market Index (RMI), which is derived from a quarterly national survey of more than 500 remodelers, posted a half point drop the current market conditions index from 52.9 to 52.4. The...

Existing home sales slip in July.(INDUSTRY UPDATES)
August 29, 2005... Existing-home sales declined in July from a record in June, according to the National Association of Realtors, based Washington. Total existing-home sales slipped 2.6 percent July to a seasonally adjusted annual rate of 7.16 million from an...

Stock watch.(building materials)(Brief Article)(Illustration)
August 29, 2005... STOCK WATCH 8/26 8/19 % Chg. % Chg. Company Close Close in Week Yr. Ago Andersons 35.44 37.20 (4.73) 38.98 Bed Bath & Beyond ...

Lowe's sales, earnings rise.(Lowe's Companies Inc.)(Brief Article)
August 22, 2005... Lowe's posted second-quarter sales of $11.93 billion, a 17 percent rise from $10.17 billion a year ago. Net income rose to $838 million, up 19.7 percent. Same-store sales increased 6.5 percent. Lowe's executives attributed the gains to the...

Strong sales, earnings for Home Depot.(Brief Article)
August 22, 2005... Home Depot reported second-quarter sales of $22.3 billion, an 11.7 percent increase over sales of $20 billion a year ago. The company also reported net earnings of $1.8 billion for the second quarter, up 17.1 percent. Same-store sales growth...

DA launches new look for stores.(Distribution America)(Brief Article)
August 22, 2005... Des Plaines, Ill.-based Distribution America has launched a new merchandising program that includes updated signage and countertop options, flooring, lighting treatments and paint colors for store walls. DA is working with the Linden,...

Target to carry Smith & Hawken.(Smith and Hawken Inc.)(Brief Article)
August 22, 2005... Target has inked a deal with Smith & Hawken that will bring the upscale gardening brand into the discount chain later this year. Smith & Hawken will design an exclusive line of outdoor furniture and garden decor for Target, according to a...

John Costello to leave Home Depot.(Brief Article)
August 22, 2005... Home Depot has announced several changes in its top management, among them the departure of John Costello, 58, executive vp-merchandising and marketing. Costello is leaving the company "to pursue other business opportunities," according to a...

Lanoga buys Parker Lumber.(BREAKING NEWS)(Brief Article)
August 22, 2005... Lanoga purchased substantially all the assets of Parker Lumber, a pro dealer chain with 13 locations based in Beaumont, Texas. Terms of the deal were not disclosed. "We are very excited about having Scott Parker and his team join our...

Hughes Supply to acquire TVESCO.(BREAKING NEWS)(Brief Article)
August 22, 2005... Hughes Supply has agreed to acquire TVESCO, a Tennessee Valley-based distributor of electric utility and electrical products. Though terms were not disclosed, Hughes expects the deal to close near the end of this month. TVESCO distributes...

CanWel absorbs LBM distribution business.(CanWel Building Materials, Brite Manufacturing)(Brief Article)
August 22, 2005... CanWel Building Materials, the distributor based in Vancouver, British Columbia, has agreed to take over Brite Manufacturing's LBM distribution business. A 30-year-old, family owned business with five manufacturing facilities and 500...

Sales up, profits dip at Ainsworth Lumber.(INTERNATIONAL NEWS)(Brief Article)
August 22, 2005... Vancouver, British Columbia-based Ainsworth Lumber reported a net income of 31.3 million Canadian dollars (US$26.1 million) for the second quarter ended June 30, compared with C$71.4 million (US$59.5 million) for the same period in 2004, more...

Builder confidence slides in August.(INDUSTRY UPDATES)(Brief Article)
August 22, 2005... Builder confidence in the market for new single-family homes dropped in August, but remained well within the elevated range that has characterized the past 17 months, according to the latest National Association of Home Builders/Wells Fargo...

Activant users gather for Pinnacle meet.(Activant Solutions Inc.)(Brief Article)
August 22, 2005... Sponsored by business system provider Activant Solutions, the two-day event in San Diego let IT specialists, financial personnel and management to explore the different capabilities of their Falcon and Eagle platforms. Attendees also heard...

Stock watch.(building materials)(Brief Article)(Illustration)
August 22, 2005... STOCK WATCH 8/19 8/12 % Chg. % Chg. Company Close Close in Week Yr. Ago Andersons 37.20 38.35 (3.00) 45.88 Bed Bath & Beyond ...

Sales rise, earnings slip at Ace.(Ace Hardware Corp.)(Brief Article)
August 15, 2005... Ace Hardware reported wholesale hardlines sales of $913.9 million for the second quarter ended June 30, an increase of 4.9 percent over the second quarter of 2004. Net earnings for the second quarter were $33.5 million, compared to $36.7...

Boise posts second-quarter loss.(Boise Cascade Corp.)(Brief Article)
August 15, 2005... Boise Cascade reported sales of $1.49 billion for its second quarter, a 2.6 percent increase compared with $1.53 billion for the second quarter of 2004. Profits plummeted, however, as the company posted a net loss of $14.5 million during the...

Menards fined $2 billion for pollution.(Brief Article)
August 15, 2005... Menard Inc. has been handed a record state fine and must pay more than $2 million for illegally discharging pollutants at its distribution center in Eau Claire, Wis. Charges of dumping hazardous waste were dismissed in exchange for Menards...

Trex appoints new CEO, chairman.(Anthony Cavanna and Andrew Ferrari)(Brief Article)
August 15, 2005... Trex, the decking and railing manufacturer, has appointed co-founder Anthony Cavanna as chairman and CEO. Cavanna succeeds Robert Matheny, who is retiring for health reasons but will remain on the board of directors. Also, co-founder Andrew...

Buffet buys stakes in Depot, Kingfisher.(GEICO Corp. acquires The Home Depot Inc.)(Brief Article)
August 15, 2005... Geico, part of Warren Buffet's Berkshire Hathaway holding company, has acquired 2.8 million shares of Kingfisher, Europe's largest home improvement retailer, along with 945,000 shares of Home Depot. In recent months Kingfisher has...

Stock buys Las Vegas turnkey operation.(Stock Building Supply, Vegas General Construction )(Brief Article)
August 15, 2005... Stock Building Supply acquired the Las Vegas-based Vegas General Construction group of companies. Though terms of the deal were not revealed, the move marks Stock's first foray into Nevada and increases the dealer's construction services...

Beacon Roofing acquires Shelter Distribution.(Beacon Roofing Supply)(Brief Article)
August 15, 2005... Beacon Roofing Supply, ranked 14th in HCN's latest Pro Dealer Top 350, has agreed to acquire McKinney, Texas-based Shelter Distribution for roughly $152.5 million in cash. Ranked 34th on the Pro Dealer Top 350, Shelter had total sales of $280...

Lowe's to sponsor Charlotte Bobcats.(Charlotte Bobcats NBA team)(Brief Article)
August 15, 2005... Lowe's will become the official home improvement retailer of the Charlotte Bobcats NBA team, through a multi-year sponsorship agreement. Bobcats owner Robert Johnson joined the Lowe's board in January, filling the seat of former chief...

Rona reports record second quarter.(INTERNATIONAL NEWS)
August 15, 2005... Rona, the Boucherville, Quebec-based distributor and retailer, reported consolidated sales of 1.21 billion Canadian dollars (US$1 billion) for the second quarter ended June 26, more than a 12 percent increase over sales of C$1.07 billion...

Maytag board backs Whirlpool's bid.(Ripplewood Holdings L.L.C.)(Brief Article)
August 15, 2005... Maytag's board of directors has withdrawn its recommendation of the pending $14-per-share cash merger deal with an investor group led by Ripplewood Holdings. The board has now thrown its weight behind Whirlpool's bid of $21 per share, or...

More Americans expect prices to go up.(Brief Article)
August 15, 2005... The number of households that believe inflation will go up over the next few months increased 5 percentage points in July compared with the previous month, according to a monthly national survey conducted by Leo J. Shapiro and Associates in...

Stock watch.(building materials)(Brief Article)(Illustration)
August 15, 2005... STOCK WATCH 8/12 8/5 % Chg. % Chg. Company Close Close in Week Yr. Ago Andersons 38.35 39.43 (2.74) 50.39 Bed Bath & Beyond 44.33...

Home Depot coming to San Francisco.(California)(Brief Article)
August 8, 2005... The world's largest home improvement retailer will open its first store within city limits. After much debate, including comments from neighbors and small businesses opposed to the project, the city planning commission voted in favor of the...

Whirlpool's Maytag bid due Aug. 9.(Brief Article)
August 8, 2005... Whirlpool must submit a formal offer to buy Maytag by Aug.9, according to documents filed with the Securities and Exchange Commission. Then, Newton, Iowa-based Maytag will have nearly nine days to consider any changes in the Whirlpool offer,...

Boise to open new California DC.(Boise Building Materials Distribution to lease distribution center)(Brief Article)
August 8, 2005... Boise Building Materials Distribution has signed a letter of intent to lease a facility in Lathrop, Calif., that will be converted into a new building materials distribution center. The 30-acre site, includes a 150,000-square-foot building...

Stock buys East Haven Builders.(Stock Building Supply, East Haven Builders Supply)(Brief Article)
August 8, 2005... Stock Building Supply, the nation's largest pro dealer, has acquired East Haven, Conn.-based East Haven Builders Supply. Though terms of the deal were not disclosed, East Haven had annual sales of about $75 million and will add 160...

Menards turns over employment records.(BREAKING NEWS)(Brief Article)
August 8, 2005... Lawyers for Madison, Wis.-based Menard turned over seven boxes of employment records on Aug. 3 to the Equal Employment Opportunity Commission (EEOC), the Associated Press has reported. The documents are part of a probe into the company's...

Strober acquires Northlake Lumber.(Strober's Contractor Yard)(Brief Article)
August 8, 2005... Strober's Contractor Ya rd has finalized the purchase of Troutman, N.C.-based Northlake Lumber, a privately held dealer that focuses on lumber and building materials for new construction. Terms of the deal were not disclosed. With the...

Profits up, sales flat for Armstrong.(FINANCIAL NEWS)(Armstrong Holdings Inc.)(Brief Article)
August 8, 2005... Lancaster, Pa.-based Armstrong Holdings reported second-quarter net sales of $919.0 million versus $903.5 million during the same quarter last year, a 1.7 percent increase. Second-quarter profits were $17.7 million, compared with a loss of...

Tuff Shed buys manufacturing competitor.(King Buildings)(Brief Article)
August 8, 2005... The Denver-based maker of sheds, garages and carport s has acquired King Buildings, an El Paso, Texas-based competitor. Terms of the deal were not disclosed. Tuff Shed said it made the purchase for King's 10,000-square-foot factory, which...

Owens Corning posts record 2Q sales.(FINANCIAL NEWS)(Owens-Corning Fiberglas Corp.)(Brief Article)
August 8, 2005... Owens Corning reported net sales of $1.59 billion for the second quarter ended June 30, an increase of 10.3 percent compared with net sales of $1.44 billion in the same period last year. During the second quarter, the company reported net...

Global power tool demand on rise.(INDUSTRY UPDATES)(Brief Article)
August 8, 2005... Construction activity in Latin America, China, India, Turkey and South Africa will boost world demand for power tools, according to a recent study by Cleveland-based Freedonia Group. Economic growth in Eastern Europe will also increase...

NKBA names CEO.(National Kitchen and Bath Association appoints Michael Kelly)(Brief Article)
August 8, 2005... The National Kitchen & Bath Association has named Michael Kelly as its new CEO. Previously, Kelly served as president and CEO of General Wi re & Stamping Co. in Randolph, N.J. Kelly replaces Larry Spangler, who resigned from the association...

ANLA to merge with PLANET.(American Nursery and Landscape Association and Professional Landcare Network )(Brief Article)
August 8, 2005... The American Nursery and Landscape Association (ANLA) has signed a letter of intent to combine its organization with the Professional Landcare Network (PLANET), pending approval from both memberships. A merger between the two trade groups...

Stock watch.(building materials )(Brief Article)(Illustration)
August 8, 2005... STOCK WATCH 8/5 7/29 % Chg. % Chg. Company Close Close in Week Yr. Ago Andersons 39.43 41.61 (5.24) 54.63 Bed Bath & Beyond 43.87...

Sales, profits soar at BMHC.(FINANCIAL NEWS)(Building Materials Holding Corp. )(Brief Article)
August 1, 2005... Building Materials Holding Corp. reported sales of $702 million for the second quarter of 2005 compared with $543 million in the same quarter a year ago, a 29 percent increase. Second-quarter profits nearly tripled to $33.3 million compared...

Record 2Q at Builders FirstSource.(FINANCIAL NEWS)(company sales and earnings)(Brief Article)
August 1, 2005... Builders FirstSource reported sales of $618.6 million for its second quarter ended June 30, 2005, a 12.9 percent increase over $547.7 million earned during the same quarter a year ago. Net income for the quarter grew 58.5 percent to $20.2...

LP to sell vinyl siding business.(BREAKING NEWS)(Louisiana-Pacific Corp.)(Brief Article)
August 1, 2005... Louisiana-Pacific Corp. will sell its vinyl siding operations, according to SEC filings. The building products supplier said it would look to close a deal to sell the siding operation within the year. Details about any ongoing purchase...

Stock acquires central Florida pro dealer.(BREAKING NEWS)(Brief Article)
August 1, 2005... Stock Building Supply, the nation's largest pro dealer with 256 locations in 30 states, has acquired Winter Haven, Fla.-based Adams Building Materials. Although financial terms were not disclosed, Adams' annual sales top $118 million. Adams...

California subpoenas Home Depot.(The Home Depot Inc.)(Brief Article)
August 1, 2005... Home Depot has received a grand jury subpoena from the United States Attorney's Office in Los Angeles, Calif., seeking documents and information relating to the company's handling, storage and disposal of hazardous waste, according to a form...

Maytag opens books to Whirlpool.(company acquisition)(Brief Article)
August 1, 2005... Whirlpool and Maytag have agreed to exchange financial documents. Beginning this due diligence process is the next step that Whirlpool hopes will lead to the acquisition of its rival. Whirlpool has increased its offer to purchase Maytag from...

Stanley Works sales, earnings increase.(FINANCIAL NEWS)(Brief Article)
August 1, 2005... Stanley Works reported second-quarter sales of $824 million, a 9 percent increase from sales of $753.9 million during the second quarter of 2004. Excluding the sales of recent acquisitions, sales grew 5 percent during the quarter. The...

Stanley Works makes offer for Facom.(INTERNATIONAL UPDATES)(Brief Article)
August 1, 2005... In other news, Stanley Works has made an offer to purchase Facom Tools from Fimalac for approximately 410 million euros ($494 million) in cash. The France-based company had 2004 sales of 370 million euros ($445 million). Brands included the...

Wal-Mart looks to double China presence.(INTERNATIONAL UPDATES)(Brief Article)
August 1, 2005... Wal-Mart, the world's biggest retailer, expects to open 42 more stores in China by the end of 2006, according to a report by the Associated Press. The move would nearly double Wal-Mart's presence in China, where the company currently operates...

Existing home sales hit record high.(Brief Article)
August 1, 2005... Sales of existing homes, including single-family, town homes, condos and co-ops, rose 2.7 percent in June to a seasonably adjusted annual rate of 7.33 million from an upwardly revised pace of 7.14 million in May, according to the National...

Stock watch.(Brief Article)(Illustration)
August 1, 2005... STOCK WATCH 7/29 7/22 % Chg. % Chg. Company Close Close in Week Yr. Ago Andersons 41.61 41.16 1.09 63.18 Bed Bath & Beyond 45.90...