Trex feels impact of late start to deck season
The 2014 deck-building season got off to a late start, and Trex felt the impact in its first-quarter results.
The Winchester, Virginia-based company reported net sales of $100.6 million, down from $107.9 million in last year’s first quarter. Net income for the wood-alternative decking giant was $12.3 million, down from $21.6 million in the same period last year.
“The severe weather experienced throughout the country during the first quarter delayed the start of outdoor living project activity," said Ronald W. Kaplan, chairman, president and CEO. "Trex was affected by this trend. The impact was especially evident in March, when winter storms and low temperatures persisted throughout the month. Except for the weather-related impact to our sales, we are pleased with our first-quarter financial performance and remain confident about our strategy for the year."
Trex expects to bounce back in the second quarter with net sales of $125 million, marking a 27% increase for the quarter and an anticipated 9% gain for the first six months.
“In 2014, we are continuing the high-profile Engineered Artistry branding campaign we successfully launched last year," Kaplan said. "Macroeconomic indicators, including rising consumer confidence and the strengthening home remodeling market, bode well for our prospects."
Char-Broil names new CEO
Columbus, Georgia-based Char-Broil, a division of the W.C. Bradley Co., named Christine M. Robins as president and CEO, effective June 2.
Robins served for the past five years as president and CEO of Pittsburgh-based BodyMedia, a venture-backed pioneering company in wearable health sensors and software that help consumers and professionals better manage health and wellness. Robins totally transformed BodyMedia via a new business strategy and the diversification of products and customers leading to the successful sale of the company to Jawbone.
“Chris has an excellent background with two major and globally respected consumer products companies,” said Marc Olivié, W.C. Bradley Co. president and CEO.
Prior to joining BodyMedia, Robins spent four years with Philips Oral Healthcare in Seattle, Washington, where she was promoted to president and CEO of this global oral care business, which includes Sonicare power toothbrushes. Robins led the development and implementation of a totally new product pipeline and business model that generated dramatic growth in revenues and profitability and also led to significant global expansion, primarily in Eastern Europe and Asia.
Immediately following graduation from the University of Wisconsin – Madison in 1988, where Robins earned her BBA degree in Marketing and Finance, she was recruited by the S.C. Johnson company in Racine, Wisconsin, and spent seventeen years with the company in both Marketing and Finance roles for brands such as Raid, Glade PlugIns, Aveeno, and Ziploc.