Home Channel News NewsFax articles from February 2005

Home Channel News NewsFax archives from February 2005

ABC Supply hits record sales mark.(American Builders and Contractors Supply Company Inc.)(Brief Article)
February 28, 2005... American Builders and Contractors Supply Co., (ABC Supply), reported that 2004 fiscal sales increased 14 percent to $2.04 billion, while the building product distributor's net income rose 53 percent to $103.2 million. The company also said...

Vote set for Kmart, Sears merger.(Kmart Holding Corp. and Sears, Roebuck and Co.)(Brief Article)
February 28, 2005... Special meetings will take place among the shareholders of Kmart Holdings Corp. and Sears, Roebuck and Co. on March 24 to vote on the mega-merger of the two retail companies. Once the merger is complete, the combined company will be called...

Weyerhaeuser sells timberlands, mills.(to Brascan Corp. )(Brief Article)
February 28, 2005... Weyerhaeuser has agreed to sell its timberlands and sawmills along the British Columbia coast to Brascan Corp. for $1.1 billion. The sale of assets includes 635,000 acres of private timberlands, annual harvesting rights to 4.7 million cubic...

True Value to shut Chicago paint plant.(Breaking News)(Brief Article)
February 28, 2005... True Value revealed that it will close its Chicago paint manufacturing facility in November. In a prepared statement, the member-owned co-op said the plant has been "under utilized" and has "steadily declined" over the past few years, while...

Home Depot sales, profits soar in 2004.(Breaking News)(Brief Article)
February 28, 2005... Home Depot reported sales of $16.8 billion for the fourth quarter ended Jan. 30, 2005, an 11.2 percent increase compared with sales of $15.1 billion in the fourth quarter of 2003. Sales for fiscal 2004 increased nearly 12 percent to $73.1...

Yearly earnings rise 18 percent at Lowe's.(Breaking News)(Lowe's Companies Inc.)(Brief Article)
February 28, 2005... Lowe's has reported sales of $36.5 billion for fiscal 2004, an 18.2 percent rise over sales in 2003. Same-store sales rose 6.6 percent for the fiscal year, which ended Jan. 28, 2005. Lowe's net income for the year reached $2.18 billion, a...

Rona sales jump 36 percent in 2004.(International Update)(RONA Retail Canada Inc.)(Brief Article)
February 28, 2005... Consolidated sales at Rona, the member-owned distributor and retailer, rose 18 percent to 932.7 million Canadian dollars (US$751 million) for the fourth quarter ended Dec. 26, 2004. The company's full-year consolidated sales for 2004 jumped...

Lighting companies partner in China.(International Update)(Keystore International of Hong Kong and Asia Lighting Solutions in joint venture partnership to acquire manufacturing facilities)(Brief Article)
February 28, 2005... Globe Electric, a manufacturer and distributor of lighting and electrical products based in Montreal, announced that its wholly-owned subsidiary, Keystore International of Hong Kong, has entered into a joint venture partnership with Asia...

Remodeling activity steadies.(Industry Updates)(remodeling market index )(Brief Article)
February 28, 2005... The Remodeling Market Index (RMI) posted a slightly slower fourth quarter in 2004, falling one point behind the seasonally adjusted third quarter of last year, according to data from the National Association of Home Builders (NAHB). The...

Judgement against fake tools maker.(Industry Updates)(Swanson Tool Company Inc. won against Frankwell Trading on its counterfeit tools suit )(Brief Article)
February 28, 2005... The U.S. District Court for the Northern District of Illinois, Eastern Division, awarded $600,000 in statutory damages to Swanson Tool of Frankfort, Ill., in its counterfeit tools suit against Frankwell Trading. Swanson has also been awarded...

Stock watch.(Brief Article)(Illustration)
February 28, 2005... STOCK WATCH 2/25 2/18 % Chg. % Chg. Company Close Close in Week Yr. Ago Bed Bath and Beyond 37.40 37.89 (1.29) (6.10) BMHC 47.01...

Carter Lumber buys Kight Home Center.(Brief Article)
February 22, 2005... Carter Lumber, a 240-unit pro dealer based in Kent, Ohio, has acquired Kight Home Center in Evansville, Ind. The purchase price was not disclosed. Kight Home Center is a family-owned business that opened in 1957. The four-unit lumberyard...

Ace Hardware reports a strong 2004.(financial reports)(Brief Article)
February 22, 2005... Ace Hardware reported consolidated wholesale sales of nearly $3.3 billion for 2004--a 4.1 percent increase compared with the previous year. Although 2004 net earnings rose a slight 1.2 percent to $101.9 million, it still amounted to record...

Orgill pushes West, wraps up market.(market show)(Brief Article)
February 22, 2005... The Memphis, Tenn.-based distributor launched its much-anticipated western push on Feb. 21, when Orgill's new Hurricane, Utah distribution center sent its first delivery. Meanwhile, the wholesaler held its spring market last week, drawing...

True Value earnings double in 2004.(financial reports of True Value Home Center Inc.)(Brief Article)
February 22, 2005... True Value Company, the member-owned co-op formerly known as TruServ, reported net earnings of $10.8 million for the fourth quarter ended Dec. 31, 2004, nearly a 6 percent increase over net earnings of $10.2 million for the same period last...

Home Depot launches Hispanic hiring push.(Breaking News)(The Home Depot Inc. partnered with ASPIRA Association, Hispanic Association of Colleges and Universities, National Council of La Raza (NCLR), and SER--Jobs for Progress National )(Brief Article)
February 22, 2005... Home Depot has formed a hiring partnership with national Hispanic organizations in an effort to attract more Hispanic employees. The world's largest home channel retailer announced that it has partnered with the ASPIRA Association, the...

Kingfisher reports solid sales for 2004.(International Update)(Brief Article)
February 22, 2005... Kingfisher, the european home improvement retailing giant, said sales increased 7.1 percent to 1.76 billion pounds (US$3.32 billion) during the fourth quarter. However, same-store sales were relatively flat, increasing just 0.6 percent during...

Home Hardware looks to expand.(International Update)(Brief Article)
February 22, 2005... Home Hardware, the dealer-owned co-op based in St. Jacobs, Ontario, said it will spend 77 million Canadian dollars (US$62.5 million) on expansion efforts this year, including additions to its distribution centers in Ontario and Alberta, as...

Housing industry off to a strong start.(Industry Updates)(Brief Article)
February 22, 2005... Housing starts hit a 21-year high last month, totaling a seasonally adjusted annual rate of 2.159 million units. That figure marks a 4.7 percent increase over the year-ago pace, according to the Commerce Department. At the same time,...

Stock watch.(Brief Article)(Illustration)
February 22, 2005... STOCK WATCH 2/18 2/11 % Chg. % Chg. Company Close Close in Week Yr. Ago Bed Bath and Beyond 37.89 39.45 (3.95) (4.87) BMHC 45.04...

Record fourth quarter for BMHC.(sales reports of Building Materials Holding Corp.)(Brief Article)
February 14, 2005... Building Materials Holding Corp., the pro dealer and construction services provider based here, reported fourth-quarter 2004 sales of $539.3 million, a 28 percent increase compared to sales of $420.1 million during the fourth quarter of 2003....

Sears unveils Essentials format.(Sears Essentials format planned by Sears, Roebuck and Co.)(Brief Article)
February 14, 2005... As part of the effort to maximize the benefits of its Kmart merger, Sears, Roebuck and Co. has revealed details of its new off-mall format. The company will transition the Kmart and Wal-Mart stores it acquired last year to the new mid-sized...

Lowe's counts down to Chicago entry.(Breaking News)(Lowe's Companies Inc. to open store)
February 14, 2005... As Lowe's prepares to open its first store within Chicago's city limits, at the Brickyard Mall off W. Diversey Ave., the company has also announced plans to open another Chicago store--its first in the city's South Side--by spring 2006. ...

Canadian Tire posts solid 4Q results.(International Update)(financial reports of Canadian Tire Corporation Ltd.)(Brief Article)
February 14, 2005... Canadian Tire's retail division, which includes Canadian Tire's full-line stores and its PartSource auto stores, reported fourth-quarter net sales of 1.93 billion Canadian dollars (US$1.56 billion), nearly a 4 percent increase compared to...

Ikea to sell houses, apartments.(International Update)(contracts with Hyde Group)(Brief Article)
February 14, 2005... Ikea announced that it is launching its own "flat pack" homes and apartment business, making prefabricated homes available "over the counter" to struggling, first-time buyers. A one-bedroom apartment with high ceilings and communal garden...

Homeowners tighter with remodeling dollars.(Industry Updates)(Brief Article)
February 14, 2005... A consumer survey by the Home Improvement Research Institute found a slight rise in projected home repair and remodeling during the first quarter of 2005. But consumers plan to spend less on each project: $4,002, a decrease of $1,281 compared...

Wood panel demand to soar through 2008.(Industry Updates)(Brief Article)
February 14, 2005... U.S. demand for wood panels is forecast to rise nearly 2 percent annually through 2008 to 61.3 billion square feet, according to a study by the Freedonia Group, the business research firm. Due to a weaker outlook for new residential building...

Stock watch.(Industry Updates)(Brief Article)(Illustration)
February 14, 2005... STOCK WATCH 2/11 2/4 % Chg. % Chg. Company Close Close in Week Yr. Ago Bed Bath & Beyond 39.45 40.46 (2.50) (0.95) BMHC 44.32...

Home Depot inks TV deal.(Mark Burnett Productions)(Brief Article)
February 7, 2005... Home Depot and Mark Burnett Productions, the force behind a number of reality television hits including "Survivor" and "The Apprentice," have formed a partnership to develop programming that highlights Home Depot's products and services in...

Habitat for Humanity fires president.(Millard Fuller and Linda Fuller)(Brief Article)
February 7, 2005... The ecumenical Christian ministry, which focuses on eliminating housing poverty, has terminated the employment of co-founder and president Millard Fuller and that of his wife, co- founder Linda Fuller. In a statement, Habitat for Humanity...

2004: a strong year across the channel.(Breaking News)(finance)
February 7, 2005... Several of the largest companies across the home channel have released their year-end figures--and the news is good. In the latest roundup of financial results, profits were up at Sherwin-Williams, Pulte Homes, Huttig, Tractor Supply and...

Weyerhaeuser promotes vp.(On The Move)(Tom Holmes to vice president)(Brief Article)
February 7, 2005... Forestry giant Weyerhaeuser announced that Tom Holmes will assume the role of vp-Canadian Timberlands, effective immediately in Vancouver, Canada. Holmes, already the company's vp-Timberlands BC Coast Group, will be responsible for...

Pro Hardware names new managing director.(On The Move)(Shari Kalbach)(Brief Article)
February 7, 2005... Denver-based Pro Hardware, a division of Pro Group, Inc., has named Shari Kalbach managing director. Kalbach also remains managing director of GardenMaster, the Pro Group retail stores program with eight distributor members that targets...

Penske to leave Home Depot board of directors.(On The Move)(Roger Penske)(Brief Article)
February 7, 2005... Home Depot director Roger Penske will not stand for reelection, according to the world's largest home improvement retailer. Penske cited increasing demands on his time as the reasoning behind his decision. The CEO of Penske Corp. and the...

Sears says 'so long' to the S.(Company Updates)(Sears, Roebuck and Co. is changing name for trading in stock exchanges)(Brief Article)
February 7, 2005... After nearly 95 years, Sears is giving up the single-letter "S" used to designate the company on the New York Stock Exchange since 1910. The shift comes on the heels of the Hoffman Estates, Ill.-based company's $11 billion merger with Kmart...

Activant to buy Speedware for $98 million.(Company Updates)(Activant Solutions Inc. buys Speedware Corporation Inc.)(Brief Article)
February 7, 2005... Activant Solutions, the retail technology vendor based in Austin, Texas, has agreed to purchase Speedware, a Montreal-based software provider, including its operating divisions, such as Enterprise Computer Systems, Prelude Systems, OpenERP...

Stock watch.(Brief Article)(Illustration)
February 7, 2005... STOCK WATCH 2/04 1/28 Chg. Chg. Company Close Close in Week Yr. Ago Bed Bath and Beyond 40.46 39.64 2.07 1.58 BMHC 36.84...