Documentary to profile Virginia hardware store
Nichols Hardware, a Purcellville, Va.-based store that’s been in business for 95 years, will be the subject of a documentary film, according to Louden Extra, a publication of the Washington Post.
The store, which carries everything from basic tools to tricycles, has been in the same location since the early 20th century. It is run by third and fourth generation members of the Nichols family.
The 30-minute film, called “Nichols: the Last Hardware Store,” is being made by Lincoln Studios, which is also based in Purcellville. It follows a year in the life of the store, focusing on how such a place persists in the era of big-box chain stores.
NYLE honors mentors
Brad Campbell of A. Boilard Sons in Indian Orchard, Mass.; and Jack and Rita Miller of Moynihan Lumber of Beverly, Mass.; were honored for their role as mentors by the Northeastern Young Lumber Executives (NYLE).
Part of the Northeastern Regional Lumber Association (NRLA), the NYLE is an organization that provides education and support for young members.
Beazer revenues, home orders down sharply in first quarter
Beazer Homes trimmed its loss for the first quarter ended Dec. 31, 2008, but revenue declined sharply as home closings and new orders each fell off by more than half.
In addition, the Atlanta-based home builder slashed about 300 jobs in the quarter, bringing its employee total down about 70 percent since its peak level in fiscal 2006.
“The housing industry continues to face the most difficult business conditions in many decades,” said Ian J. McCarthy, Beazer’s president and CEO, in a company release.
Beazer reported a net loss of $80.3 million and a loss per share of $2.08 for the quarter, compared with a net loss of $138.2 million and a loss per share of $3.59 in the first quarter of 2008. These results include $30.1 million in non-cash pre-tax charges, which breaks down into $12.7 million in inventory impairments and abandonment of land option contracts, $16.1 million in goodwill impairments and $1.3 million in impairments in joint ventures.
First-quarter revenue was down 53.5 percent to $232.3 million, while home closings fell 53.2 percent to 938 homes, and new home orders plunged 56.5 percent to 545 homes.
The average selling price of homes closed during the quarter was generally flat compared to the first quarter of 2008.
“During our first fiscal quarter, this challenging environment was greatly exacerbated by continued significant weakening in the overall economy, characterized by rising unemployment, low levels of consumer confidence and ongoing disruptions in the financial and credit markets, all of which negatively impacted buyer demand for new homes,” McCarthy said. “Against this backdrop, we continue to adapt to the reality of lower home closing volumes by further reducing our cost structure.”