Beacon Roofing acquires commercial roofing distributor
Peabody, Mass.-based Beacon Roofing Supply has announced its acquisition of Phoenix Sales, a distributor of commercial roofing systems and accessories with four branches in Tampa, Orlando, Pompano and Fort Myers, Fla., and sales of about $20 million in 2009.
Scott Hall and Jim Coston, co-founders of Phoenix, will remain part of Beacon’s regional leadership team.
“We are very excited to join Beacon as it expands its presence in the Florida market,” Hall said. “Joining Beacon will enable Phoenix to better serve our customers in many ways, including through expanded product offerings.”
Paul Isabella, Beacon’s president and COO, said: “We now have a strong commercial roofing presence in Central Florida to accompany our recently acquired residential roofing business.”
Bed Bath & Beyond reports robust Q4 sales
Bed Bath & Beyond, the specialty housewares retailer, reported net sales of $2.24 billion for its fourth fiscal quarter, an increase of 16.7% from net sales of $1.92 billion in the same quarter last year. Comparable-store sales in the fourth quarter of 2009 increased by 11.5%, compared with a decrease of 4.3% in last year’s fourth quarter.
Net income for the quarter, which ended on Feb. 27, was $226 million, an increase of 56% over earnings of $141.4 million in the same quarter a year ago.
For fiscal 2009, net sales reached $7.83 billion, an increase of 8.6% from the prior fiscal year. Comparable-store sales for fiscal 2009 grew 4.4%, compared with a decrease of 2.4% last year.
Bed Bath & Beyond posted $600 million in profits for fiscal 2009, compared with net earnings of $425.1 million in fiscal 2008.
As of Feb. 27, 2010, the Union, N.J.-based company had a total of 1,100 stores, including 965 Bed Bath & Beyond locations in 49 states, the District of Columbia, Puerto Rico and Canada, 61 Christmas Tree Shops stores, 29 buybuy Baby stores and 45 stores under the names of Harmon or Harmon Face Values.
Fastenal shows 15% gain in Q1
Winona, Minn.- based Fastenal has reported first-quarter net earnings of $56 million, up 15.1% from $48.6 million as reported for the same quarter last year.
Sales for the quarter ended March 31 were $520.7 million, up 6.4% from $489.3 million in the year-ago period.
During the quarter, the company opened 29 new stores, representing total growth of 1.2% from December 2009, compared with 33 stores in the first quarter of 2009.
The company attributed 1.5% of its gains to the strengthening of the Canadian dollar, as well as the company’s acquisition of Holo-Krome in December.