Content about News

August 1, 2014

Retail and consumer products veteran Brian Cornell was named chairman and CEO at Target to fill two of the three roles previously held by the company’s former top executive Gregg Steinhafel.

August 1, 2014

Dallas-based Builders FirstSource has purchased West Orange Lumber Company. The deal closed on July 31, 2014. West Orange was represented by The JIAN Group of Fredericksburg, Virginia.

Groveland, Florida-based West Orange supplies lumber, roof and floor trusses, custom windows and doors, as well as installation services, to residential home builders and commercial contractors in the Central Florida region. Sales were about $15 million for fiscal 2013. 

August 1, 2014

After a slow first quarter, Fortune Brands and Home Security saw a second-quarter 10% year-over-year sales bump. The company also announced that it had acquired Sentry Safe for $117.5 million.

In the second quarter, Fortune Brands reported $1.4 billion in sales, and $136.6 million in operating income before charges and gains — a $20.1 million increase over the second quarter of 2013. The total company’s pre-gains operating income grew by 28%.

August 1, 2014

Stocks dragged their feet on Thursday, namely Builders FirstSource (BLDR) and Eagle Materials (EXP), which were down 4.65% and 4.41%, respectively.

August 1, 2014

The national unemployment rate reversed its steady downward direction in July, ticking up slightly to 6.2% with the addition of 209,000 jobs, the Department of Labor reported.

However, a greater number of people entered the labor market last month, a sign that prospects could be improving for discouraged and long-term unemployed workers. July saw 741,000 discouraged workers, down by 247,000 year-over-year. However, the number of long-term unemployed, those employed part-time for economic reasons and the civilian labor force participation rate were little changed in July.

August 1, 2014

Weyerhaeuser Co. reported strong figures for the second quarter of 2014, with positive results the company attributed to the recent divestment of its home-building business and doubled-down focus on its wood products.

July 31, 2014

As is its annual custom (now in its fourth year), Ace Hardware Corporation recognized a new spate of Ace stores in its 2014 "Coolest Hardware Store" awards. Six stores nabbed the title out of 4,850 Ace stores worldwide, named officially during Ace's Platinum Conference held in Las Vegas.

July 31, 2014

Kris Matula and Mack Hogans are the newest addition to Boise Cascade's board of directors, the company announced Wednesday. The two join the board as longtime member Samuel Mencoff resigns.

Matula is the retired president and CEO of cellulose-based product manufacturer Buckeye Technologies, which Georgia-Pacific acquired in 2013. Before his time at the head of the company, Matula served as Buckeye’s CFO. He’ll serve on Boise Cascade’s compensation committee.

July 31, 2014

Stocks were all over the map at Wednesday's close, with Central Garden & Pet (CENT) coming out as the winner at a gain of 4.92%.

July 31, 2014

Huntersville, North Carolina-based impact driver company Irwin has unveiled the second phase of its Impact Performance Series line of accessories. This phase expands the line beyond fastening into extracting, drilling and power bits.

“The second phase of the Impact Performance Series expands our initial offering, which was originally focused on the fastener drive category only,” Irwin’s marketing director, John Schlosser, said. “Irwin’s expansion … provides the right impact accessory for nearly all impact driver applications.”

July 31, 2014

HCN and the National Lumber and Building Material Dealers Association are beginning to warm up for the 2014 ProDealer Industry Summit, taking place Oct. 28-30 in San Diego, California.

Among the four keynote speakers locked down for the event is Michelle Desiderio, VP innovation services for Home Innovation Research Labs, a market research, consulting, product testing and accredited third-party certification agency that serves the home-building space.

July 31, 2014

Newell Rubbermaid reported its second-quarter financial results Thursday morning, which pointed to strong progress in line with the company's full-year outlook for 2014.

Net sales for the three months ended June 30 were $1.52 billion, up 3.1% from last year's net of $1.47 billion.

Net income came in at $150.6 million for the quarter, up 37.2% from 2013's income of $109.8 million.

July 30, 2014

General Cable Corp.'s board of directors has elected Ned Hall as its seventh independent director, filling the vacancy created by Robert Smialek's retirement. He will also serve on the board's Nominating and Governance Committee.

July 30, 2014

The latest World Drywall & Building Plaster study from The Freedonia Group puts global drywall demand at 10.4 billion square meters by 2018, indicating an annual growth rate of 5.8%. This stands in stark contrast to demand during the 2008-2013 period.

Freedonia analyst Allison Blackburn noted that the growth will largely ride on the back of the Chinese and U.S. market, where nearly three-quarters of new demand will be generated.

July 30, 2014

Stock Building Supply (STCK) and Masco (MAS) jumped substantially after the release of their second-quarter earnings reports Tuesday, while Plum Creek (PCL) fell.

July 30, 2014

After a delay of several days, Lumber Liquidators has released its second-quarter earnings report, which reflected an estimated aggregate net sales shortfall of up to $18 million in certain product categories. Net sales for the quarter still increased, however, by 2.3%, totaling $263.1 million (compared with $257.1 million in the same quarter last year).

Comparable-store sales decreased by 7.1%, with the average sale declining 1.8%. Net income was $16.6 million for the three months ended June 30, down 18.7% from last year's $20.4 million.

July 30, 2014

The National Retail Federation is making an effort to better serve Main Street merchants and independent retailers via the launch of the Small Business Retail Council, which it announced during this week's Retail Advocates Summit.

The SBRC is aimed at recruiting and engaging small business owners in various grassroots advocacy activities, as well as providing a forum for members to discuss the public policy issues that affect them most.

July 30, 2014

Philips Lighting is recalling about 7,500 units of its “Lightolier” brand AF4SY Decorative Glass Lens after receiving one report of the glass lens breaking. According to the Consumer Product Safety Commission, the decorative glass lens has displayed a tendency to shatter, posing a risk to consumers below.

July 30, 2014

The Home Depot has promoted Ted Decker to the position of EVP merchandising, where he will take the helm of the company's merchandising strategy and operations. Effective Aug. 4, Decker will transition from his most recent role as SVP retail finance and begin reporting to Craig Menear, president U.S. Retail.

Decker has been with the company for 14 years, during which time he played an integral role in the company's merchandising transformation and led the implementation of new pricing and analytics processes.

July 30, 2014

Muskegon, Michigan-based energy-efficient lighting company EarthTronics has named Tripp Smith to the post of VP sales. Smith brings over 30 years of lighting experience to bear on his new role, in which he will be charged with increasing sales opportunities and profit, as well as expanding market share in North America.

Over 22 years of his career were spent at GE Lighting, where he performed in various sales and leadership capacities in the company's retail and commercial lighting businesses.

July 29, 2014

Ace Hardware has struck a deal with RONA, a Canadian retailer and distributor of hardware, building materials and home renovation products, to forge a long-term agreement for master licensing of the Ace brand in Canada.

July 29, 2014

New Englanders will be able bring the colors of Fenway Park home with the help of a new limited-edition line of paints from Benjamin Moore.

The Fenway Collection has five colors — Green Monster, Boston Blue, Boston Red, Baseline White and Foul Pole Yellow — all of which have been released to commemorate the paint company’s 12-year partnership with the Boston Red Sox.

July 29, 2014

Briggs & Stratton announced Tuesday that Shaunna Balady had joined the Wisconsin-based company as SVP corporate development.

July 29, 2014

Consumer confidence pushed ahead to a new post-recession high of 90.9 in July, its highest level since October 2007, The Conference Board reported this morning.

July's figure is also in comparison with an upwardly revised figure of 86.4 in June, where the previous post-recession high had stood.

July 29, 2014

Shares of Armstrong World Industries (AWI) dropped 10.42% on Monday following the release of its Q2 earnings report, which caused the company to lower its full-year guidance.