Ace cuts back LBM staff
Ace Hardware reduced the size of its LBM division and brought it under the direction of Sean Flynn, a longtime merchandise executive for the Oak Brook, Ill.-based cooperative.
Amy Pellerito, a 19-year Ace veteran and previously LBM manager, is no longer with the company. Ace hired Pellerito as a lumber trader in 1989. When Ace spun off its lumber division in 1999, she continued with Ace in store planning and design. When Ace resumed its LBM efforts with a focused division in 2003, the co-op put Pellerito in charge.
In 2006, Pellerito had four territory managers in her department. Two LBM specialists — Jeff McGuire and Beth Stewart — remain with the LBM division, according to McGuire, who pointed to market conditions as a primary reason for the structural change.
Ace spokesman Christopher Boniface said the change is “more than a reaction to economic issues. From our standpoint, it’s a better alignment of our buying offices.”
Hackett’s opens 10th location
Ogdensburg, N.Y.-based Hackett’s, a chain of department stores with full service hardware departments, opened its 10th location on Aug. 2 in Sackets Harbor, N.Y.
Hackett’s is one of the nation’s oldest retailers with roots dating back to 1830. Each store contains a full service True Value hardware department with traditional hardware, tools, plumbing, paint and electrical departments.
Other departments in the stores include men’s, women’s and children’s brand name apparel, athletic, casual and work footwear, home decor, gifts, seasonal merchandise and sporting goods.
The official grand opening, which includes door prize giveaways and other special promotions, is scheduled for Aug. 6 and will continue through the weekend.
“We were very pleased with the opening of the new location, and we received positive feedback from the customers that visited the store,” said Norm Garrelts, president of Hackett’s.
Third-quarter losses narrower at D.R. Horton
D.R. Horton recorded narrower — but still significant — losses in the third quarter. The home builder, one of the largest in the United States, lost $399.3 million in the period, compared with $823.8 million in losses in the same period last year.
The company took a $500 million charge for write-offs and folded land options contracts. In all, revenue from home and lot sales totaled $1.43 billion, down 43.9 percent from $2.55 billion in the same period.
“Although market conditions in the home-building industry remain challenging, we continue to focus on reducing our inventory and generating cash flow from operations,” said Donald R. Horton, chairman of the company’s board of directors, in a statement.
The company’s sales backlog of homes under contract as of June 30 was 8,281 homes, worth an estimated $1.9 billion. That’s significantly lower than the 15,801, worth around $4.4 billion, at the same time last year.
D.R. Horton has operations in 80 markets in 27 states.