American Woodmark set to expand
Buoyed by an improving economy, kitchen-cabinet manufacturer American Woodmark has announced its plans to expand its South Branch manufacturing facility in Moorefield, West Virginia.
"Our decision to expand our capacity is a statement of optimism and confidence in the market, our people and the value proposition of our brands," said president and COO Cary Dunston, who was just recently promoted to the title.
The new facility will feature an additional 100,000 sq. ft. and will have a total employment payroll of 655 workers.
"American Woodmark is a great example of a national company that’s succeeding in our state’s vastly improved business climate," Gov. Earl Ray Tomblin said. "And the best news is that 80 more families will enjoy the benefits of steady, good-paying jobs with a first-rate employer."
The move, which is slated for completion in fall of next year, is expected to add 80 full-time jobs and come at a pricetag of $30 million for the company.
American Woodmark maintains nine manufacturing facilities and nine service centers across the nation.
Yardi forges partnership with Home Depot
Yardi, a real estate investment software company based in Santa Barbara, California, has linked up with The Home Depot to give its clients easier access to the retailer’s products.
Yardi customers can now easily order Home Depot products in-store or online via the Yardi Procure to Pay online procurement and invoice processing system.
Using the system, property owners and managers can have their purchase orders and invoices automated online, allowing them to more intuitively manage their purchases and check for compliance.
“We are thrilled about our new business relationship with Yardi," said J.T. Rieves, VP The Home Depot Pro Business. "Property managers now have a compliant ordering solution with the option of selecting same-day, in-store pickup or even delivery from The Home Depot. The Home Depot will leverage its thousands of U.S. locations, vast distribution network and outside sales team to become a strategic supplier of maintenance, repair and operating supplies and building materials for our very important property management customers.”
Clients who use YardiPAYscan will have free access to The Home Depot catalog, with no need for any additional implementation.
“The Home Depot’s impressive catalog of products and resources is a major addition to our national network of partners, and further expands Yardi Procure to Pay to be a true one-stop solution for MRO supplies with fully automated accounts payable,” said Terri Dowen, SVP sales for Yardi. “The Home Depot is widely used in our industry, so automating the procurement process and providing spend management for purchasing at The Home Depot will be of tremendous value to our clients.”
Consumer confidence rises again
The Conference Board Consumer Confidence Index, which had increased in July, improved further in August, according to data released Tuesday morning.
The Index now stands at 92.4 (1985=100), up from 90.3 in July. The Present Situation Index increased to 94.6 from 87.9, while the Expectations Index edged down to 90.9 from 91.9 in July.
“Consumer confidence increased for the fourth consecutive month as improving business conditions and robust job growth helped boost consumers’ spirits,” said Lynn Franco, director of economic indicators at The Conference Board. “Looking ahead, consumers were marginally less optimistic about the short-term outlook compared with July, primarily due to concerns about their earnings. Overall, however, they remain quite positive about the short-term outlooks for the economy and labor market.”
The monthly Consumer Confidence Survey, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was Aug. 14.
Consumers’ appraisal of current conditions continued to improve through August. Those saying business conditions are “good” edged up to 23.9% from 23.3%, while those claiming business conditions are “bad” declined to 21.5% from 22.8%. Consumers’ assessment of the job market was also more positive. Those stating jobs are “plentiful” increased to 18.2% from 15.6%, while those claiming jobs are “hard to get” declined marginally to 30.6% from 30.9%.
Consumers were slightly less optimistic in August about the short-term outlook. The percentage of consumers expecting business conditions to improve over the next six months held steady at 20.4%, while those expecting business conditions to worsen fell to 10.2% from 12.1%.