AHMA releases industry confidence index
Along with the latest AHMA industry confidence index came a plea to legislators: think before you tax.
“Manufacturers in the home improvement industry continue to perform well in the face of strong macroeconomic headwinds," said Tim Farrell, president and CEO of the American Hardware Manufacturers Association (AHMA). "Going forward, we urge legislators in Washington to fully consider the important contributions to the health of the U.S. economy provided by a thriving manufacturing sector, and we strongly urge them to avoid counterproductive tax increases as they debate ways to reduce the budget deficit and address the problems of an increasing national debt.”
The AHMA Home Improvement Industry Confidence Index’s Current Situation Index declined in June to 166.7 from 175 in May (October 2008 = 100), while the Future Expectations Index improved significantly to 213.8 from 179.3 a month earlier.
In comparing current sales levels to year-ago levels, 40% of respondents said sales were higher in June versus year-ago levels, down from 42% in May. For June, 20% reported sales were even, and 40% said sales were below year-ago levels.
The full results of the industry confidence survey can be found here.
Hardware store manager accused of theft
According to an article in the Shawangunk Journal, a manager of an Ace Hardware store in Ellenville, N.Y., stands accused of stealing $14,000 from the store over a period of about six months.
The 26-year-old store manager Miguel Martire was charged with larceny and falsifying business records, according to the article. Martire, who had been working at the store since the age of 15, allegedly stole cash by falsely ringing up items as cash refund returns, and taking the cash.
Tennessee store reopens after bankruptcy
According to an article in The Tennessean newspaper, a Mount Juliet, Tenn., store has new investors and new traffic patterns.
The Ace Hardware store in Mount Juliet closed last month after it filed for bankruptcy, according to the article. Nashville investor Steve Curnutte partnered with Tennessee Ace dealer Steve Avery to reopen the store.
One of the reasons for the previous store’s struggles was disruptive major construction on the I-40 that disrupted traffic, according to the report. The construction project is expected to be completed in a matter of weeks.