Posted 8/20/08:
Canadian Home Improvement Retail Sales +2%
Home improvement retail sales in Canada rose 0.7 percent in June 2008 from May 2008 to C$2.68 billion ...
American Woodmark Q1 Sales Down 16%
Net sales declined 16 percent from the first quarter of the prior fiscal year to $139.2 million ...
Target Q2 Earnings Down 8% as Sales Increase 6%
Target Corporation has reported net earnings of $634 million for the second quarter ended August 2, 2008 ...
Posted 8/19/08:
Home Depot Q2 Sales -5%
The Home Depot on Tuesday morning reported fiscal 2008 second quarter
consolidated net earnings of $1.2 billion, or $0.71 per diluted share,
compared with $1.6 billion, or $0.81 per diluted share, in the same
period in fiscal 2007 ...THF Composite Down 17Part
of the reason our industry stocks are not down as much as other
industries, in my opinion, is that most of our companies deal in
products that add solid, practical value to customers’ lives ...
Housing Starts Down 30%
Privately-owned housing starts in July were at a seasonally
adjusted annual rate of 965,000. This is 11.0 percent below the
revised June estimate of 1,084,000 and is 29.6 percent below the
revised July 2007 rate ...
Posted 8/18/08:
Lowe’s Earnings -8% in Q2
Lowe's Companies, Inc. today reported net earnings of $938 million for
the quarter ended August 1, 2008, a 7.9 percent decline from the same
period a year ago ...
Posted 8/15/08:
BMHC Reports $66 M Loss
Building Materials Holding Corporation last evening, after the
market closed, reported sales for the second quarter of 2008 decreased
41 percent to $385 million ...
Wal-Mart Investing $1.06 Billion in Brazil
Wal-Mart
has announced plans to expand its operations in Brazil in 2009 by
investing approximately $1.06 billion and opening another 80 to 90
stores ...
Posted 8/14/08:
Wal-Mart Q2 Sales +10%
Wal-Mart Stores, Inc.
today reported its sales and earnings for the quarter ended July 31,
2008. Net sales for the quarter were approximately $101.6 billion, an
increase of 10.4 percent from $92.0 billion ...
True Value Sales Down 4%
True Value Company has reported revenue of $571.3 million for the
quarter ending June 28, 2008, a decrease of 3.9 percent or $23.1
million from $594.4 million for the same period a year ago ...
Briggs & Stratton Sales -14%
Briggs & Stratton today announced fiscal 2008 fourth quarter consolidated net sales of $581.1 million ...
Posted 8/13/08:
Home Improvement Retail Sales Down Just 2% from Last Year
Sales of home improvement products through retail stores in the
country rose 0.3 percent in July to $28.008 billion from $27.923
billion in June ...
Ace Q2 Income Up 13%
Ace Hardware this week announced second quarter net income
increased 13.2 percent over last year to $33.4 million. Total revenues
for the quarter fell 2.7 percent to $1.067 billion ...
Posted 8/12/08:
THF Composite Soars +82Last
week in this space I somewhat facetiously predicted that Congress being
on vacation for the month of August would help the stock market ...
RONA Earnings Drop 7%
RONA today announced a slight increase in its consolidated sales
to C$1,473.3 million in the second quarter of 2008, compared to
C$1,469.1 million in 2007. Same-store sales fell by 4.4 percent ...
Newell Rubbermaid Building Manufacturing Plant in Tenn.
Newell Rubbermaid
and the Industrial Board
of Coffee County, Tenn., have reached an agreement for the company to
acquire a 60-acre site to build a new manufacturing facility in Coffee County's Interstate Industrial Park in
Manchester ...
Posted 8/11/08:
BMHC Obtains Temporary Waiver on Credit Facility
The waiver allows the company to borrow up
to $60 million, through September 30th ...
Ames True Temper Sales +4%
ATT Holding Co., parent of Ames True Temper, Inc., today reported
that net sales for the thirteen-week period ended June 28, 2008 were
$162.6 million, a 3.6 percent increase compared to $156.9 million ...
Valspar Q3 Sales +7%
Third-quarter sales totaled $957.7 million ...
PRO Group Names Director of Merchandising
PRO Group, Inc. has promoted Brendan Sullivan to director of merchandising, a new position ...
Posted 8/8/08:
Canadian Tire Retail Sales +4%
Canadian Tire Corp. yesterday reported second quarter retail sales increased 4.0 percent to C$2.95 billion ...
Costco July Sales +14%
Costco Wholesale has reported net sales of $5.70 billion for the
month of July, the four weeks ended August 3, 2008, an increase of 14
percent ...
California Adopts Green Code for All New Construction
The California Building Standards Commission has adopted a green
building code for all new construction in the state ...
Posted 8/7/08:
Existing-Home Sales Set for Rebound Based on Contracts
“Some improvement is projected for existing-home sales in the
months ahead, with broader gains seen by the fourth quarter as buyers
take advantage of ...
Wal-Mart Sales Up 9.4%
Wal-Mart Stores, Inc. this morning
reported total company net sales increased 9.4 percent to $30.159
billion for the four weeks ended August 1, 2008 ...
Central Garden Reports Q3 Results, Delays SEC Filing
Central Garden & Pet Company has announced preliminary results
for its fiscal third quarter ended June 28, 2008 and a delay in the
filing of its Form 10-Q ...
Posted 8/6/08:
Lumber Liquidators Q2 Income More Than Doubles
Lumber Liquidators today reported net sales increased 21.1 percent
to $128.0 million in the second quarter of 2008 from $105.7 million ...
U.S. Concrete Reports $1.8 Loss for First Half
U.S. Concrete, Inc.
today reported net income from continuing operations of $3.3 million,
or $0.08 per diluted share, for the quarter ended June 30, 2008,
compared to net income from continuing operations of $7.0 million ...
Posted 8/5/08:
BMHC Closing All SelectBuild Florida Operations
Building Materials Holding Corporation has announced that it will
discontinue operations at its wholly-owned subsidiary SelectBuild
Florida ...
Home Depot to Webcast Q2 Earnings Conference
The Home Depot announced today that it will hold its Second Quarter
2008 Earnings Conference Call on Tuesday, August 19 at 9 a.m. ET ...THF Composite Gains 14 for WeekAn
up week for the market overall as the THF Composite, Dow and Nasdaq all
managed to gain. Eighteen of our industry stocks rose for the week
versus 10 decliners ...
Tractor Supply Expands Buyback Program to $400M
Tractor Supply Company today announced that its board of directors
has authorized a $200 million increase to its current share repurchase
program. The program, established in February 2007, now totals $400
million ...
Posted 8/4/08:
Louisiana-Pacific Corporation today announced it has suspended its
$0.15 per share quarterly dividend pending improvement of the overall
market.
The dividend suspension will save approximately $62 million annually ...
Simpson Q2 Sales Down 5%
Simpson Manufacturing Co., Inc. has announced that second quarter
2008 net sales decreased 5.2 percent to $219.3 million as compared to
net sales of $231.3 million for the second quarter of 2007 ...
Posted 8/1/08:
Housing Affordability Slipping as Prices Begin to Rise
Housing affordability in the country fell to an Index of 119.2 in
June from 125.7 in May, according to the latest Housing affordability
Index from ...
Builders Firstource Reports Q2 Loss of $46 Million
Builders FirstSource, Inc. today reported a net loss of $45.9 million,
or ($1.29) per diluted share, on sales of $307.3 million ...
Kingfisher Selling Castorama Italy for euro 560 Million
Kingfisher plc today announced a binding agreement to sell its Castorama Italy business to Groupe Adeo S.A. ...
Grainger Forms Joint Venture in India
Grainger has announced the company has bought a 49.9 percent stake
in Asia Pacific Brands India Ltd., one of India's largest industrial
and electrical wholesale distributors ...
Posted 7/31/08:
Newell Rubbermaid Profit Down 35%
Newell Rubbermaid this morning reported net sales grew 7.8 percent
to $1.83 billion in the second quarter, compared to $1.69 billion in
the prior year ...
Energizer Q3 Earnings Up
Net earnings for the quarter were $66.7
million, or $1.13 per diluted share, versus net earnings of $62.5
million, or $1.06 per diluted share in the third fiscal quarter of 2007 ...
Praktiker Sales Near 2 Billion Euros in First Half
Praktiker Group grew its operating profit by 20.5 percent to 59.2
million euros in the first six months of the current fiscal year.
Between January and June 2008, the Praktiker Group achieved total sales of 1,997.2 million euros ...
Housing Market Drives LP to Loss of $81 Million in Q2
Louisiana-Pacific Corporation (LP) has reported a second quarter
net loss of $81 million, or $0.79 per diluted share, on sales from
continuing operations of $387 million ...
Posted 7/30/08:
BMHC Out of Compliance with Credit Facility
Building Materials Holding Corporation has announced that, based on
preliminary evaluation of financial information for its second quarter
ended June 30, 2008, it was out of compliance with financial covenants
contained in the Company's credit facility ...
Orchard Supply Names Merchandising SVP
Orchard Supply Hardware (OSH) has announced the appointment of
Mark Kauffman as Senior Vice President of Merchandising ...
BlueLinx Sales Down 23%
BlueLinx Holdings Inc., a distributor of building products, today
reported second-quarter net income totaled $6.6 million, compared with net income of $5.4 million in the year-ago period. Revenues of $835 million
declined 22.9 percent from $1.08 billion ...
Trex First Half Income Up on Lower Sales
Trex Company, Inc. today announced net sales for the second
quarter of 2008 totaled $95.0 million compared to net sales of $118.8
million ...
Eurozone Retail Sales Falling
The latest Bloomberg Eurozone Retail Purchasing Managers' Index, based
on a mid-month survey of economic conditions in the euro area retail
sector, rose from 44.0 in June to 46.0 in July. By remaining below the
50.0 level, the index pointed to a further fall ...
Posted 7/29/08:
Masco Q2 Income Falls 60%
Masco Corporation today reported that net sales from continuing
operations for the quarter ended June 30, 2008 declined 15 percent to
$2.6 billion compared with $3.1 billion for the second quarter of 2007 ...
New Carrefour Group Executive Committee Named
Following a change in the Carrefour Group’s management structure
approved yesterday at Carrefour’s Shareholders’ Assembly, Jose Luis
Durán, appointed Chief Executive Officer by the Board of Directors, has
named his Executive Committee ...
THF Composite Gains as Dow Drops The
overall market retreated last week, once again citing banking
concerns. But while the Dow was busy shedding 336 points in value, our
own THF Composite managed to gain 12 points for the week.
Tractor Supply Company provided the most powerful shot in the arm,
gaining $6.84 per share for the week thanks to a strong second quarter
report from the retailer showing a 14 percent increase in sales.
Snap-on Inc. also gained heartily, up $5.38 per share after reporting a
28 percent jump in earnings for the second quarter ...
Posted 7/28/08:
Snap-on Earnings Up 28%
Snap-on has reported net sales of $766.1 million in the second
quarter, an increase of $54.2 million, or 7.6 percent ...
Stanley Sells CST/berger to Robert Bosch
The Stanley Works has announced that it has completed the sale of
its CST/berger laser leveling and measuring business ...
Posted 7/25/08:
Durable Goods Orders Remain Strong for Manufacturers
New orders for manufactured durable goods in June increased $1.6
billion or 0.8 percent to $215.4 billion, the U.S. Census Bureau
announced today. This was the second consecutive monthly increase ...
Black & Decker Q2 Earnings Down 18%
The Black & Decker Corporation today announced that net
earnings for the second quarter of 2008 were $96.7 million or $1.58 per
diluted share, versus $118.0 million or $1.75 per diluted share for the
second quarter of 2007.
Sales decreased 3 percent for the quarter to $1.6 billion ...
New Home Sales Down 0.6%
Sales of new one-family houses in June 2008 were at a seasonally
adjusted annual rate of 530,000, according to estimates released
jointly today by the U.S. Census Bureau and the Department of Housing
and Urban Development ...
Posted 7/24/08:
Tractor Supply Q2 Sales +14%
Tractor Supply Company last night announced financial results for its second fiscal quarter ended June 28, 2008.
Net sales increased 13.6 percent to $898.3 million from $790.9 million
in the prior year's second quarter. Same-store sales increased 3.4
percent ...
Kingfisher Reports Strong Sales
Kingfisher plc today reported total sales at its UK B&Q unit
grew 3.7 percent in the second quarter with same-store sales increasing
...
Existing-Home Sales Fall Again
Existing-home sales – including single-family, townhomes,
condominiums and co-ops – fell 2.6 percent to a seasonally adjusted
annual rate of 4.86 million units in June from a pace of 4.99 million
in May, and are 15.5 percent lower than the 5.75 million-unit rate in
June 2007 ...
Tupperware Sales +18%
Tupperware Brands Corporation today reported its fifth consecutive
quarter of double-digit sales growth. Second quarter 2008 sales grew
18 percent year over year to $584 million ...
Posted 7/23/08:
Lumber Liquidators to Announce Q2 Results 8/6/08
Lumber Liquidators, Inc., (NYSE:LL), one of the few bright home
improvement industry stars shining on Wall Street this year, today
announced that it intends to release second quarter 2008 results on
Wednesday, August 6, 2008 ...
Costco Says Earnings Will Be “Well Below” Expectations
Costco Wholesale Corp. today said its earnings for its fiscal
fourth quarter are expected to be well below the current First Call
consensus earnings per share estimate ...
Whirlpool Earnings Down 27%
Whirlpool Corporation announced today that second-quarter earnings
from continuing operations of $117 million decreased 27 percent to
$1.53 per diluted share compared to $161 million ...
Better Homes and Gardens Launching Real Estate Site
Better Homes and Gardens Real Estate today is launching an online
consumer website at http://www.bhgrealestate.com/ ...
Posted 7/22/08:
BlueLinx Issues Earnings Estimate, Shares Soar
BlueLinx Holdings Inc. (NYSE:BXC), a distributor of building
products in North America, last Wednesday was the biggest percentage
gainer on the New York Stock Exchange (climbing from around $3.30/share
to $5.00/share ...THF Composite Up 49 for WeekRemember
last week when I advised you to “Let not your heart be troubled”?
This is what I was talking about. Or, at least, it was what I was
hoping for.
The market rebounded in a big way last week ...
Stanley Q2 Sales +5%
The Stanley Works today reported second quarter sales increased 5 percent to $1.154 billion ...
Posted 7/21/08:
Lowe’s Opening Three More Canadian Stores in Q4
Lowe’s Companies Canada, ULC announced today plans to open three
additional stores in Canada by the end of the fourth quarter of fiscal
2008 ...
Sherwin-Williams Sales +1.4%
The Sherwin-Williams Company has announced its financial results
for the second quarter and first six months ended June 30, 2008.
Compared to the same periods in 2007, consolidated net sales increased
$31.4 million ...
Orgill Building New DC
Orgill, Inc., has announced plans to build a warehouse and
distribution center in Sikeston, Missouri. The new center will replace
and consolidate current Orgill facilities in Memphis, Tennessee, and
Vandalia, Illinois ...
Posted 7/18/08:
Hope for Housing, Survey Says
Nearly half of all home buyers (44%) believe the housing market
will improve once the new President takes office in January, 2009,
according to a survey released this week conducted by Harris
Interactive ...
Hornbach Sales +6%
Net sales of Hornbach Holding AG rose 6.1 percent to euro 777.7 million in the company’s first fiscal quarter ...
Canadian Tire Opens First Small Market Stores
Canadian Tire opened the doors of its first two small market
stores today with the grand opening of its store in Hearst, ON and a
soft opening in Deep River, ON ...
Danaher Earnings Up 18%
Danaher Corporation, a diversified manufacturing and technology company
that makes the Craftsman line of tools for Sears, announced today that
net earnings from continuing operations for the quarter ended June 27,
2008 were $363 million ...
New India Sourcing Fairs in Hong Kong and Dubai in 2009
Global Sources today announced the launch of its new India Sourcing
Fair trade show series for 2009. The India Sourcing Fair: Home
Products show “will feature a wide range of products made in India ...
Posted 7/17/08:
Builder Confidence in Housing Market Hits Record Low
Builder confidence in the market for newly built single-family
homes fell for a third consecutive month in July, according to a press
release from the National Association of Home Builders (NAHB). The
NAHB Housing Market Index (HMI) fell below its previous record low of
18 in June to a new record low of 16 in July ...Kingfisher Names Execs
Kingfisher plc, Europe's leading home improvement retailer, today
announced two appointments to the Group's senior management team ...
U.S. Group Buys Canada’s Hudson’s Bay
“NRDC Equity Partners and True North Retail Investments, an affiliate
of The InterTech Group, Inc. and the owner of Hudson’s Bay Company
(Hbc), announced today the completion of a transaction ...
Norandex Relocates Corporate Headquarters
Norandex Building Materials Distribution, one of the largest
distributors of exterior siding, windows, and doors in the United
States, has completed the relocation of its corporate offices from
Macedonia, Ohio to a newer and larger facility in nearby Hudson, Ohio ...
Posted 7/16/08:
Newell Rubbermaid Reacts to Increased Resin Expense
Newell Rubbermaid has announced it is “implementing a number of
strategic initiatives designed to reduce the company's exposure to
volatile commodity markets, including a restructuring of the company's
product portfolio and aggressive pricing mechanisms ...
Scotts Miracle-Gro Names Two New Senior Vice Presidents
The Scotts Miracle-Gro Company today announced the promotion of
Korbin Riley to senior vice president. In his new role, Riley oversees
the Global Professional Seed, Asia Pacific and Emerging Markets ...
Tractor Supply to Report
7.16.08
Tractor Supply Company intends to release its second quarter 2008
results after the market closes on Wednesday, July 23, 2008 ...
Posted 7/15/08:
Home Improvement Retail Sales Fell 0.9% in June, -3% for Year
Retail sales of home improvement products in the country declined
0.9 percent in June from May to $27.707 billion. Sales were down 2.0
percent from year-ago June levels ...THF Composite Down 18 for WeekThe
good news this week? Ten of our 28 industry stocks gained for the
week. Now, the pessimistically inclined among you may hasten to add
that 18 of the stocks dropped for the week. Let not your heart be
troubled ...
British Retail Sales Slowing
UK retail sales values in June fell 0.4 percent on a like-for-like
basis, compared with June 2007. Sales have now been lower than a year
ago in three of the past four months ...
Posted 7/14/08:
Wal-Mart Joins World Wildlife Fund’s Forest Initiative
Wal-Mart Stores, Inc.
today announced it has joined the Global Forest & Trade Network
(GFTN), World Wildlife Fund’s (WWF) initiative. By joining the GFTN,
Wal-Mart “has committed to phasing out illegal and unwanted wood
sources from its supply chain and increasing its proportion of wood
products originating from credibly certified sources ...
Second Home Depot Employee Pleads Guilty to Kickbacks
James P. Robinson on Friday of last week pleaded guilty to one count of
conspiracy to commit wire fraud and two counts of tax evasion in a case
involving kickbacks from foreign suppliers ...
Big Hammer Joins AAIA
Big Hammer Data, a division of Edgenet, announced today that it has
joined the Automotive Aftermarket Industry Association (AAIA) and is
exhibiting at eForum in Chicago ...
Posted 7/11/08:
U.S. Exports at All-Time High
The declining value of the U.S. dollar relative to other currencies,
especially the euro, is helping to make U.S. exports cheaper and ergo
more attractive to foreign buyers ...
Fastenal Sales +16% to $1.17B, Earnings +26% to $144.3M
The Fastenal Company today reported net sales for the three-month
period ended June 30, 2008 totaled $604.219 million, an increase of
16.3 percent ...
PRO Names Retailer of the Year
PRO Hardware has named Poultry Electric PRO Hardware of Winchester,
Tenn. the winner of the 2008 Paul L. Cosgrave Memorial Award. Poultry
Electric is also the 2007 PRO Hardware Retailer of the Year for Wallace
Hardware Company ...
Snap-On to Webcast Results
Snap-on Incorporated, one of the few companies in The Hard Fax
Composite doing well on the stock market this year, will release 2008
second-quarter and six-month results ...
Whirlpool Closing Two Plants
Whirlpool Corporation yesterday announced manufacturing production
changes to its North American manufacturing operations, which include
the closure of its Oxford, Mississippi, and Puebla, Mexico,
manufacturing facilities ...
Posted 7/10/08:GE Looking to Sell All Consumer and Industrial Units
GE today announced that it “is continuing to explore all options
for its Consumer & Industrial businesses with a primary focus on
spinning-off the entire unit -- Appliances, Lighting and Industrial ...
Wal-Mart June Sales +12%
Wal-Mart Stores, Inc. this morning reported net sales for the five- and 22-week periods ending July 4, 2008.
Total sales for the month increased 11.5 percent to $39.9 billion.
For the 22-week period, sales increased 9 percent to $166.3 billion ...
Target June Sales Up 7%
Target Corporation this morning reported that its net retail sales
for the five weeks ended July 5, 2008 increased 6.6 percent to $5.842
billion ...
Walmex Q2 Sales Up 12%
Wal-Mart de Mexico SA (Walmex) said yesterday that second quarter
net income rose by 9 percent over the year-ago period ...
Posted 7/9/08:
Carrefour H1 Sales +8.6%
Carrefour today released its first half sales statement. Overall
group sales increased 8.6 percent in the half and 6.7 percent in the
second quarter ...
Interfor Closes Sawmill
International Forest Products Limited (Interfor) has announced that it
will permanently close its Queensboro Sawmill Division, located in New
Westminster, B.C. ...
Irwin Wants Consumers to Tell How They Get a Grip
Irwin Industrial Tools this week launched an online promotional contest
whereby they are asking consumers to “Tell Us Your Irwin Vise-Grip
Story.” Consumers can enter their stories of unusual uses ...
Posted 7/8/08:
Pending Home Sales Index Falls 4.7%, NAR Predicts Gradual Recovery Through 2009
The Pending Home Sales Index, a forward-looking indicator based on
contracts signed in May, fell 4.7 percent to 84.7 from an upwardly
revised reading of 88.9 in April, and remains 14.0 percent below May
2007 ...
CRH Expects H1 Profit of Euro 0.6 Billion
CRH plc, the Ireland-based international building materials group,
today released its 2008 interim statement saying first half profits are
expected to fall to euro 0.6 billion ...THF Composite Down 19% for YearWith
the housing market still struggling, oil prices still through the roof
and the mainstream, change-seeking media still enthusiastically ...
Posted 7/7/08:
Housing Affordability Remains At Favorable Levels ...
A typical family in the U.S. has 125.4 percent of the income
necessary to afford a median priced single-family home, according to
the latest National Association of Realtors Housing Affordability Index ...
... And Buyers Began to Return in May
Existing-home sales increased in May with buyers
responding to lower home prices, according to the National Association
of Realtors.
Existing-home sales – including single-family, townhomes, condominiums and co-ops – increased 2.0 percent ...
Buyers & Sellers Meet at Group Merchandising Conference
Home improvement industry distributors from PRO Group and Val-Test
Distributors met in late June at the Embassy Suites Hotel in downtown
Atlanta for the 2008 Group Merchandising Conference.
The meeting format features scheduled buyer/vendor appointments ...
RI Supreme Court Rules in Favor of Sherwin-Williams in Lead Case
The Rhode Island Supreme Court has unanimously reversed a 2006
verdict against Sherwin-Williams Co. and two other paint manufacturers,
NL Industries Inc. and Millennium Holdings LLC, saying they cannot be
held liable by the state for creating a public nuisance through their
production and sale of lead paint ...
Whirlpool Names Global Exec
Whirlpool Corporation today announced that David Szczupak will lead
the company's newly named Global Product Organization ...
Briggs & Stratton Rating Lowered by Moody’s
Moody’s Investors Service has lowered certain credit ratings on some
unsecured notes of Briggs & Stratton Corp., noting “continued
unfavorable weather conditions, a weak U.S. economy, unfavorable
product mix, ongoing competition from Asian ...
Posted 7/2/08:
X-Rite Reports Q2 Results
X-Rite Inc. today reported preliminary Q2 2008 sales results in the
range of $71.5 million to $72.5 million. This is compared to proforma
2007 Q2 sales of $72 million ...
Posted 7/1/08:
THF Composite Drops 34 Points
With the Dow dropping nearly 500 points for the week, this one goes
down in the books as officially bearish. It also officially ends the
first half of the year with the Dow and Nasdaq both down 14 percent and
our own THF Composite down 16 percent ...
Posted 6/30/08:
Wal-Mart Changing Logo
Wal-Mart Stores Inc. is preparing to change its familiar logo, according to reports over the weekend ...
China Retail Study Available
Research and Markets has announced the addition of the "Retail in China 2008" report to their offerings ...
Posted 6/27/08:
BB&B Profit Down 27%
Bed Bath & Beyond Inc. has reported net earnings of $.30 per
diluted share ($76.8 million) in the fiscal first quarter ended May 31,
2008, compared with net earnings of $.38 per diluted share ($104.6
million) ...
Posted 6/26/08:
Carrefour Shares Drop 9% in One Day, Issues Statement
“In the light of the share price reaction today, we would like to
make the following clarification: Assuming no further deterioration in
consumer spending, we are confident that we will grow sales, including
VAT and on constant exchange rates, in line with last year’s growth ...
Posted 6/25/08:
New Home Sales Down 40% from Year-Ago Levels
Sales of new one-family houses in May 2008 were at a seasonally
adjusted annual rate of 512,000, according to estimates released
jointly today by the U.S. Census Bureau and the Department of Housing
and Urban Development. This is 2.5 percent below the revised April
rate of 525,000 and is 40.3 percent below the May 2007 estimate ...
Pier 1 Withdraws Cost Plus Acquisition Offer
Pier 1 Imports, Inc. yesterday announced it has withdrawn its proposal
to acquire all the outstanding shares of Cost Plus ...
Posted 6/24/08:
Lowe’s and Home Depot Present Updates at Conference
Lowe’s presented a business outlook live at the Wachovia 18th Annual Nantucket Equity Conference at 9:00 a.m. EDT today.
The presentation will be available live at www.lowes.com under investor relations and will be archived there until July 11, 2008.
Home Depot also presents today at 1:00 p.m. EDT. The event will be broadcast live and archived at www.homedepot.com under investor relations.
Home Depot Launches CFL Bulb Recycling Program
The Home Depot today announced the launch of a national CFL bulb recycling program.
The free service is now available at all 1,973 Home Depot locations in the U.S. ...
THF Composite Down 49 for WeekIts
getting harder and harder to be an optimist in this market. Twenty-six
of the 28 stocks we track on a weekly basis declined during the past
week. And 24 of the 28 are down for the year. Only Fastenal, Lumber
Liquidators, Snap-On and Wal-Mart are up for the year ...
Posted 6/23/08:
Home Builders Remain Pessimistic on Prospects
6.23.08
Builder confidence in the market for newly built single-family
homes edged down in June, according to the National Association of Home
Builders/Wells Fargo Housing Market Index (HMI). The index slipped to
18 this month, returning to the record low that was posted in December
of 2007 ...
Craftmade Names CEO
Craftmade International, Inc. has announced the appointment of J.
Marcus Scrudder to serve as the company's Chief Executive Officer,
effective July 1, 2008 ...
Posted 6/20/08:
Canadian Home Improvement Sales Down Slightly in April
Canadian retail sales of building and outdoor home supplies fell 0.6 percent in April to C$2.23 billion ...
RPM Names Controller
RPM International Inc. has announced that Barry M. Slifstein will become vice president and controller on July 1.
Slifstein is currently vice president of finance, chief financial officer and treasurer of RPM's DAP Products ...
Posted 6/19/08:
North America Remains Favored Region for Manufacturers, Survey Says
“Despite intense global competition, manufacturers consider North
America the most desirable region for expansion over the next three
years,” according to a new survey released yesterday by Deloitte ...
U.K. May Retail Sales Up Unexpectedly
According to a report from the UK’s Office for National Statistics
released today, “total sales volume in the three months to May was 5.4
per cent higher than the same period a year ago ...
Simpson Acquires ProTech
Simpson Manufacturing Co. has announced that its subsidiary, Simpson
Dura-Vent Company, has purchased 100 percent of the equity of ProTech
Systems ...
Posted 6/18/08:
Wal-Mart Lowers Capital Expenditure Forecast
Wal-Mart Stores, Inc.
has updated its total company capital expenditure forecast for the
current fiscal year, ending Jan. 31, 2009. Speaking at the William
Blair Growth Stock Conference in Chicago yesterday, Wal-Mart Executive
Vice President and Chief Financial Officer Tom Schoewe said Wal-Mart
expects capital expenditures for the company to fall within a range of
$13.0 to $14.0 billion for fiscal year 2009 ...
Home Depot to Present Update
Home Depot has announced that Paul Raines, EVP U.S. Stores, will
present at the Wachovia 18th Annual Nantucket Equity Conference on
Tuesday, June 24, 2008 at 1:00 p.m. EDT ...
Restoration Hardware Completes Sale to Catterton
Restoration Hardware, Inc. has announced that the acquisition of the
Company by a group of investors including Catterton Partners and Gary
Friedman, the Company's Chairman, President and Chief Executive
Officer, has been completed ...
Posted 6/17/08:
Housing Starts Fell in May
Housing starts in May fell 3.3 percent from April to a seasonally
adjusted annual rate of 975,000 and are currently 32.1 percent off the
pace of 1,436,000 in May 2007 ...
Lowe’s to Present Update
Lowe’s this morning announced that Bob Hull, EVP and CFO, will present
at the Wachovia 18th Annual Nantucket Equity Conference at 9:00 a.m.
EDT on Tuesday, June 24, 2008 ...THF Composite Continues SlideAnother
down week on the market. If things hold to form, this week will be an
up week. That’s how it has gone this year – up a little, then down a
little more.
All is not gloom and doom for the home improvement industry though ...
AkzoNobel Selling Brands to Canada’s General Paint
AkzoNobel has agreed to sell its Para and Crown Diamond decorative paint brands in Canada to General Paint Corp. ...
Retailing in France Report Available
“French retailing is entering a new phase. Compared to other countries
in the EU such as the UK, Germany and Spain, the long-term outlook for
retailing in France looks relatively healthy ...
Posted 6/16/08:
Mexican Retail Same-Store Sales Up 2% in May
Same-store sales at Mexican retailers rose 1.9 percent in May from the
year-ago month, according to retail association Antad ...
Cost Plus Rejects Pier 1 Offer
Cost Plus, Inc. today announced in a press release that its Board of
Directors has unanimously rejected the Pier 1 Imports, Inc. unsolicited
stock-for-stock merger proposal it received on June 6, 2008 ...
Ingersoll-Rand Names CEO of Security Unit
Ingersoll-Rand Company today announced the appointment of Steven
B. Hochhauser as president of its Security Technologies Sector ...
Posted 6/13/08:
Restoration Hardware Merger Agreement Approved
Restoration Hardware, Inc. today announced that its shareholders
adopted the amended merger agreement between Restoration Hardware and
certain affiliates of Catterton Partners. The amended merger agreement
was adopted June 12 at a special meeting of shareholders of Restoration
Hardware's outstanding shares of common stock ...
NAHB Calls for Homebuyer Tax Credit
The National Association of Home Builders (NAHB) last week called
on Congress to create a temporary homebuyer tax credit along with other
important tax measures to boost the faltering housing market and economy ...
C.H. Briggs CEO Nominated for Entrepreneur Award
Julia H. Klein, CEO of C.H. Briggs Company, the largest
independently owned distributor of specialty building products in the
country, has been named a finalist in the Ernst & Young 2008
Entrepreneur of The Year awards ...
Grainger May Sales Up 7%
Grainger today reported sales results for the month of May 2008.
Daily sales grew 7 percent versus May 2007 including a 1 percentage
point benefit from foreign currency ...
China Hand Tool Study Available
“Export sales of hand tools from China have been increasing an average
of nearly 20 percent in each of the past two years. The country's
mature hand tools manufacturing industry consists of about 4,000
suppliers ...
Posted 6/12/08:
Home Improvement Retail Sales Up 2.4% in May
Home improvement retail sales in the country rose 2.4 percent in
May to $28.117 billion from $27.449 billion in April, according to the
latest Department of Commerce Advance Monthly Retail Sales Report.
Sales were down 3.2 percent from May 2007 levels.
For the first five months of the year, home improvement retail sales are down 3.2 percent to $135.239 billion ...
Homebase Sales Down 5%
Home Retail Group today released its Interim Management Statement for the first 13 weeks of the financial year.
The company’s DIY chain, Homebase, reported a sales decline for the period of 5.0 percent to GBP440 million ...
Stanley Selling CST/berger; Buying Sonitrol
The Stanley Works has announced that it has entered into an
agreement to sell its CST/berger laser leveling and measuring business,
based in West Lafayette, IN, to Robert Bosch Tool Corporation for $205
million ...
Tractor Supply to Provide Update and Forecast
Tractor Supply Company today announced its participation in the
William Blair & Company Growth Stock Conference. Jim Wright,
Chairman, President and Chief Executive Officer, and Randy Guiler,
Director of Investor Relations, will be attending the conference. The
Company's 30-minute presentation is scheduled to begin at 9:30 a.m.
Eastern Time on Thursday, June 19, 2008 ...
Masco Chairman Buys Stock
Richard A. Manoogian, the Executive Chairman of Masco Corp., has
reported buying 200,000 shares of company stock for $17.40 to $17.50
apiece ...
Posted 6/11/08:
Dubai World Buys Wal-Mart’s Gazeley Distribution Unit
Economic Zones World (EZW), a Dubai World company, has announced
the acquisition of Gazeley Limited, the Wal-Mart-owned global provider
of sustainable logistics space, as part of its “strategy to expand into
global markets and ...
L-P Opens New Maine Mill
Louisiana-Pacific Corporation yesterday celebrated the grand
opening of its Houlton, Maine, laminated strand lumber (LSL) facility.
Speaking at the event, Executive Vice President and CFO Curt Stevens said ...
Armstrong Names New VP
Armstrong World Industries, Inc. (AWI) has named John F. Breuninger
Vice President - Business Development, responsible for identifying,
evaluating and negotiating new business opportunities ...
Posted 6/10/08:
Hope for Home Sales
“A modest gain in the level of home sales is possible over the
next couple months, and an improvement is forecast for the second half
of this year as more buyers are able to access affordable mortgages ...
Trade Deficit IncreasesThe U.S. Census Bureau and the U.S. Bureau of Economic
Analysis announced today that total April exports of $155.5 billion and
imports of $216.4 billion resulted in a goods and services deficit of
$60.9 billion ...
THF Composite Drops 26 A dramatic spike in the price of oil combined with the continuing softness in the housing market sent stocks down last week.
As we approach the midway point of the year, the THF Composite of
Home Improvement Industry Stocks is down 8 percent. The broader Dow
and Nasdaq are both down 7 percent for the year ...
Tesco Q1 Sales +14%
Tesco
PLC today released its first quarter trading statement showing overall
Group sales strong with a 13.7 percent increase over year-ago sales
levels. Non-Food sales in the U.K., however, have slowed ...
Posted 6/9/08:
Fastenal May Sales +11%
Fastenal Company has reported net sales for the month of May
increased 10.7 percent to $197.1 million from $178.1 million in the
year-ago period.
During the month, the company opened 21 new locations.
Fastenal financial releases are here.
Ingersoll-Rand Announces Board Changes
Ingersoll-Rand Company Limited this morning announced the election
of two new directors to the company's Board of Directors. Both
directors, Jared L. Cohon and Edward E. Hagenlocker, previously served
on the Board of Directors of Trane Inc., which Ingersoll Rand acquired
on June 5, 2008.
The company also announced, effective immediately, the promotion of
Steven R. Shawley to senior vice president and chief financial officer ...
Posted 6/6/08:
Ace is the Place, Says J.D. Power Satisfaction Study
For a second consecutive year, Ace Hardware ranks highest in satisfying
home improvement retail store customers, according to the J.D. Power
and Associates 2008 Home Improvement Retail Store Study released last
week.
The study, now in its second year, measures customer satisfaction with
home improvement retail stores, based on performance in five factors:
merchandise; price; sales staff; sales/promotions; and store facility ...
Walmex May Sales +15%
Wal-Mart de Mexico yesterday reported total sales for the month of
May increased 15.2 percent to 19.99 billion pesos ($1.94 billion).
Same-store sales increased 8.5 percent.
The full financial report is here.
Scotts Miracle-Gro Promotes Two Supply Chain Execs
The Scotts Miracle-Gro Company today announced the promotions of
Mike Lukemire to executive vice president and Dave Swihart to senior
vice president ...
Saint-Gobain Forms Joint Venture in Japan
Saint-Gobain's Construction Products sector has gained a foothold on
the Japanese insulation market through its acquisition of the 43.64
percent stake held by Nippon Sheet Glass (NSG) in MAG ...
Posted 6/5/08:
Wal-Mart Sales Up 10% in May
Wal-Mart Stores, Inc.
today reported total retail sales for the month of May increased 9.8
percent to $31.036 billion from $28.258 billion in the year-ago month ...
Home Depot Predicts Growth
Home Depot, during a presentation to analysts and investors this
morning, said the company’s earnings per share can grow by at least
double digits, on a percentage basis, when current business conditions
return to “normal.”
Target May Sales +5.5%
Target Corporation today reported that its net retail sales for
the four weeks ended May 31, 2008 increased 5.5 percent to $4.564
billion from $4.325 billion for the four weeks ended June 2, 2007. May
same-store sales fell 0.7 percent ...
Husqvarna Promotes Exec
Husqvarna AB
today announced the appointment of Roger Leon as Head of Consumer
Products North America, effective July 1, 2008. He replaces Robert E.
Cook who is retiring. Mr. Leon had been Chief Operating Officer of the division.
Posted 6/4/08:
Carrefour Proposes Change to Corporate Structure
The Supervisory Board of Carrefour “has decided to modify its
articles of association in order to transform it into a company with a
Board of Directors,” according to a press release today ...
Kingfisher Sales Up 8.6%
Kingfisher plc, Europe’s largest home improvement retailer, today
reported retail sales and profit updates for the first fiscal quarter
ended May 3, 2008. Total Group retail sales increased 8.6 percent to £2.490 billion ...
Williams-Sonoma Net Falls 42%
Williams-Sonoma Inc. today reported a 42 percent drop in net income for
the first fiscal quarter to $10.4 million from last year’s $18.2
million. Revenue for the period fell 4.2 percent to $781.8 million ...
American Woodmark Sales Drop 21%, Profit Plummets
American Woodmark Corporation today announced net sales declined
14 percent in the fourth quarter compared with the fourth quarter of
the prior fiscal year to $143.3 million ...
Restoration Hardware Reports Q1 Loss, Set to Vote on Merger
Restoration Hardware Inc. has reported a first quarter net loss of
$19.77 million compared to $12.99 million in the year-ago period.
Revenue for the period increased to $144.7 million, up from $142.7
million in 2007.
A special meeting of stockholders is scheduled for June 12, 2008 to
vote on a proposed merger of the company with certain affiliates of
Catterton Partners ...
Posted 6/3/08:
Sherwin-Williams Lowers Sales & Earnings Outlook
The Sherwin-Williams Company yesterday lowered its financial
forecast for 2008, saying: “For the full year 2008, we anticipate
consolidated net sales will be slightly lower than 2007. We had
previously expected a low single digit percentage increase in
consolidated net sales over 2007 ...
THF Composite Gains 9
Despite
Monday’s 135-point drop on the market, the most recent trading week was
a positive one. The Dow managed a gain for the week, as did the
Nasdaq. And the THF Composite improved 9 points with 18 of our 28
stocks advancing ...
Linens ‘n Things Begins Liquidation Sales
Linens Holding Co., a leading home furnishings specialty retailer
operating as “Linens ‘n Things,” has announced that the United States
Bankruptcy Court for the District of Delaware has approved store
closing sales ...
Posted 6/2/08:
Housing Market Strong and Growing in Canada
Unlike the current slowdown in the housing market in the U.S., the
housing market up north in Canada remains very robust. The total value
of residential construction investment reached C$19.8 billion in the
first quarter of 2008, an increase of 7.5 percent ...
U.S. Housing Prices Down 7%
Global Insight today released its first quarter 2008 update of “House
Prices in America” report, showing that single-family home prices fell
for the third straight period, dropping at a 6.7 percent annualized rate ...
Posted 5/30/08:
Lowe’s Chairman Upbeat at Annual Meeting
Today at its
annual meeting, Lowe's Companies, Inc. Chairman and CEO Robert A.
Niblock told shareholders that in a challenging economic environment,
Lowe's is “maintaining its high standards for stores, diligently
managing expenses and continuing its keen focus on customer service ...
Former Home Depot Employee Charged in Kickback Case
Anthony M. Tesvich, a former Home Depot employee, was charged yesterday
in the Northern District of Georgia with defrauding Home Depot in a
vendor kickback scheme ...
Ace Hardware Q1 Sales -7.2%
Ace Hardware Corporation this week reported net income of $10.8
million for the first quarter of 2008, a decrease of $3.3 million
compared to $14.1 million for the first quarter of 2007.
Total revenues for the first quarter of 2008 decreased $67.8 million, or 7.2 percent, to $872.1 million ...
Housing Affordability Remains at Very Favorable Level
Housing affordability remains at very favorable levels in the
country, according to the latest Housing Affordability Index released
this week by the National Association of Realtors.
The Index for April stands at 129.8, meaning a typical family with a median income in the country has 129.8 percent ...
Praktiker Business “Picking Up” After Slow Start
After a slow start into the year 2008, business of the Praktiker
Group in Germany has picked up appreciably in the last two months,
according to a press release today ...
Personal Income Up in April
Personal
income increased $20.1 billion, or 0.2 percent, and disposable personal
income increased $23.4 billion, or 0.2 percent ...
Posted 5/29/08:
Sears Holdings Reports $56 Million Loss for Q1
Sears Holdings
Corp. this morning reported a first quarter loss of $56 million,
compared with a loss of $223 million in the year-ago period. Sales for
the period fell 5.8 percent ...
Costco Sales +13%
Costco Wholesale Corp. today reported its operating results for
the third quarter and first thirty-six weeks of fiscal 2008, ended May
11, 2008.
Net sales for the third quarter of fiscal 2008 increased 13 percent to $16.26 billion ...
Zep Hires Two New Business Presidents
As part of its recently announced Company reorganization, Zep Inc. has
hired “two industry leaders to serve as Presidents of two of the
Company's eight, newly-formed ...
Posted 5/28/08:
Sears Canada Q1 Sales +3%
Sears Canada Inc. today announced its unaudited first quarter results.
Total revenues for the 13-week period ended May 3, 2008 were $1.254
billion compared to $1.219 billion ...
New Green Living Network to Feature Home Building and Renovation TV Show
Well-known handyman and TV Host Steve Thomas (This Old House, etc.)
will be the star of “RENOVATION NATION,” a new show dedicated to making
homes earth-friendly.
“The tricks of the trade for the green home building movement are
revealed when Thomas brings viewers into the exciting world of green
renovations. In this daily hour-long series, Thomas meets with
eco-sensitive homeowners and builders who are making the choice to go
green ...
Praktiker Seen as Possible Home Depot Target
Shares in German home improvement retailer Praktiker rose as much
as 9 percent during the trading day Wednesday on rumors of takeover
interest from Home Depot, according to reports out of Frankfurt.
Lumber Liquidators to Present at Financial Conference
Lumber Liquidators, Inc., has announced that Jeffrey W. Griffiths,
President and Chief Executive Officer, and Daniel E. Terrell, Chief
Financial Officer, will present at the 2008 Piper Jaffray Consumer
& Industrial Growth Conference ...
Posted 5/27/08:
Home Prices Continue Decline
Data released today by S&P/Case-Shiller indicates that the decline
in the prices of single-family homes continued through the first
quarter of 2008 with the firm’s Home Price Index showing a national
decline of 14.1 percent versus the first quarter of 2007 ...
Single-Family Home Sales Rise
Sales of new single-family houses in April 2008 were at a
seasonally adjusted annual rate of 526,000, according to estimates
released jointly today by the U.S. Census Bureau and the Department of
Housing and Urban Development.
This is 3.3 percent above the revised March rate of 509,000, but is 42.0 percent below the April 2007 estimate of 907,000 ...
Home Depot Director Buys $92 Million in Stock
Home Depot Director David H. Batchelder has purchased $91.7 million worth of the company’s stock ...THF Composite Falls 45 PointsLast
week was a memorable one on the market, but not in a good way. The Dow
lost 548 and our own THF Composite shed 45 points for the week. In
fact, 27 of our 28 industry stocks declined in value ...
Lowe's to Webcast Annual Meeting of Shareholders
Lowe's Companies, Inc. has arranged for interested persons to listen as
its 2008 Annual Meeting of Shareholders is broadcast live over the
Internet at 10:00 a.m. Eastern Daylight Time on Friday ...
U.S. Retail e-Commerce Growth Rate Rebounds in April
ComScore, Inc. last week released retail e-commerce data for April
2008, which showed that the year-over-year growth rate rebounded to 15
percent ...
Posted 5/23/08:
Existing Home Sales Down 1% in April
Existing-home sales – including single-family, townhomes,
condominiums and co-ops – declined 1.0 percent to a seasonally adjusted
annual rate of 4.89 million units ...
Canadian Home Improvement Sales Fell Slightly in March
Sales through Canadian building and outdoor home supply stores declined
0.5 percent in March to C$2.175 billion from C$2.257 billion in
February, according to data released by Statistics Canada yesterday ...
Toro Sales & Earnings Down
