Castle Building Centres plans ‘Open to Buy’ days
Castle Building Centres, the Toronto-based home improvement buying group, has announced it will join the “Open to Buy” days event at this year’s National Hardware Show Canada (NHSC).
Castle Building Centres is an independent lumber and building Materials Buying Group with more than 220 locations across Canada. The NHSC will be held Oct. 16 to 17 at the Toronto Congress Centre.
“Castle Building Centres is a significant retailer in the Canadian home improvement retail space,” said Dennis MacDonald, senior vp of Reed Exhibitions and producer of NHSC.
In addition to Castle’s participation, new at this year’s NHSC is an expanded New Product World, an Inventor’s Spotlight which will showcase patent-pending products and the co-location of Garden Expo and Florist Expo.
Castle is a member-owned co-op; its dealers have access to more than 350 suppliers through their affiliation with Castle. The group is partnered with Reliance Buying Group, Mutual Hardware and Octo Plumbing Group.
Beazer swings to loss in the third quarter
Atlanta-based home builder Beazer Homes reported a third-quarter loss of $123 million, down from earnings of $102.6 million in last year’s third quarter.
The company saw sales fall 36.6 percent to $761 million from $1.2 billion last year.
The company took charges of $188.5 million for inventory impairments and for abandoning some land option contracts. Home closings fell to 2,666 homes compared with 4,156 homes last year. New orders also fell to 3,055 homes from 4,378 homes last year.
“Operating conditions in the housing industry deteriorated further in the fiscal third quarter and remain very challenging,” said president and CEO Ian McCarthy. “Most housing markets across the country continue to be characterized by an oversupply of both new and resale home inventory, reduced levels of consumer demand for new homes and aggressive price competition among home builders.”
Beazer Homes is one of the country’s largest single-family home builders with operations in 22 states.