BMHC sales down 24 percent
Building Materials Holding Corp. (BMHC) has reported $618 million in third-quarter sales, a drop of 24 percent from $818 million in the same quarter last year. The industry’s fourth largest pro dealer posted $4.2 million in net income from the third quarter, which ended on Sept. 30. This compares to $35.3 million in the third quarter of 2006.
Income from discontinued operations included a gain of $3.1 million from the sale of three BMC West yards in Colorado in September 2007.
During the first nine months of the 2007 fiscal year, sales at BMHC decreased 28 percent to $1.9 billion from $2.6 billion in the same period of 2006. Net income for the nine-month period dropped from $97.6 million in 2006 to $18.6 million in 2007.
BMC West, the company’s distribution arm, posted sales of $319.7 million, a decrease of 16 percent from $379.7 million in the same quarter of 2006. Income dropped 34 percent, from $31.4 million last year to $20.6 million this year.
SelectBuild, BMHC’s construction services division, showed a 32 percent slide in sales during the past quarter, to $299 million from $438 million in the third quarter of 2006.
True Value market features new store format
Atlanta True Value got a head start on its 2007 fall market today with a media preview tour, showing the company’s newest store format at the Georgia World Congress Center.
Under the header “Destination True Value,” executives joined members of the press on a guided tour of a model 13,255-square-foot store.
The new store featured a softer, more “female-friendly” format, designed to “make hardware shopping less intimidating.” The new store format is focused on small home improvement projects.
True Value retailer store owners will get a chance to view the new store design at the co-op’s fall market, held here at the Georgia World Congress Center through Oct. 29. The event will include a special focus on lawn and garden products for the spring 2008 season.
Lawn and garden sales have been strong at the co-op — in the company’s second quarter, CEO Lyle Heidemann said the category helped drive a strong comparable-store sales increase.
In its most recent quarter, True Value saw revenue decrease slightly to $594.4 million from $597 million in the same period last year. However, comparable-store sales rose 1.5 percent for the quarter.
West Fraser Timber shuts down Skeena Sawmills
Vancouver, B.C.-based West Fraser Timber announced the closing of its Skeena Sawmills facility in Terrace, B.C.
“This was a very difficult decision for the company to make,” said Lou Poulin, general manager of Skeena Sawmills, “but unfortunately it has become necessary due to current market conditions.”
Poulin said that the low number of U.S. housing starts as well as the rapid rise of the Canadian dollar have played a major role in setting the conditions for the closing.
The facility employs approximately 80 hourly workers and 20 salaried staff members.
Skeena Sawmills produces about 90 million board feet of lumber annually.