Handy Hardware fully operational after Hurricane Ike
Less than a week after Hurricane Ike struck the Texas Gulf Coast, Handy Hardware Wholesale, is operating at full capacity, the Houston-based company announced.
“We have resumed all normal delivery schedules and continue to focus on the service to our member-dealers, as well as our employees in the aftermath of such a horrible natural disaster,” Handy Hardware president Tina Kirbie said.
According to Mickey Schulte, vp-marketing and purchasing, there was minimal damage to the operation, which allowed the distributor to focus on the needs of its member-dealers. “Our fleet suffered no damage, and we had limited damage to our inventory. The minor repairs to the roof of our 560,000-square-foot warehouse are already complete,” he said.
Established in 1961, Handy Hardware Wholesale operates in 10 states, mostly in the South and Southeast.
Government bans sale of some Scotts products
Scotts Miracle-Gro, a supplier of lawn and garden products, said it received orders from U.S. environmental regulators prohibiting the sale and use of several products, including certain pesticides, according to a report from Reuters.
In a regulatory filing, the company said the U.S. Environmental Protection Agency (EPA) had issued “Stop Sale, Use or Removal Orders” on several of its products, including Season Long Max Weed and Grass Killer Plus Preventer, Weed B Gon Lawn Weed Killer and Ortho Roach Ant and Spider Killer.
“Scotts Miracle-Gro withheld these seven pesticide-containing products that were in the filing,” Scotts spokeswoman Carrie Butler told Home Channel News. “We have voluntarily withheld them from the shelves since June, when there were found to be problems with the labels. The EPA released the product names on Sept. 15 and is allowing us to sell these products after they have been re-labeled.”
Scotts Miracle-Gro said it does not expect delayed shipments of the affected products — which account for less than 1 percent of the company’s sales — to have a material impact on its financial results for fiscal year 2008 or fiscal year 2009.
However, the company expects costs related to all product recalls and known registration issues related to the ongoing investigation to range from $50 million to $55 million in fiscal year 2008 and about $10 million in fiscal year 2009.
Home channel stocks feel the pain
Wall Street continued to dominate the news wires yesterday as the Dow Jones Industrial Average sank almost 450 points, or 4.06 percent. The home channel certainly felt some of the financial pain. Shares of Home Depot and Lowe’s both dropped more than 7 percent in value on the day.
Among other major movers in the home channel yesterday, Louisiana-Pacific shares declined $1.13, or 10.98 percent, to $9.16; and Scotts Miracle-Gro declined $2, or 6.96 percent, to $26.75.
Only two of 20 home channel stocks tracked by Home Channel News showed gains. Simpson Manufacturing increased 78 cents to $28.55, up 2.81 percent, and Builders FirstSource gained slightly.