Chicago-based True Value Co. reported first-quarter gross billings of $443.3 million, down 0.9% from the same quarter last year.
A nearly non-existent spring in many parts of the country hurt sales. The company also explained gross billings were affected by a decline in lumber and building material vendor direct-ship sales.
"While winter-related product sales exceeded the prior year, the general lack of spring weather this March versus last year was too much to overcome," said Lyle Heidemann, president ad CEO.
