Jewett-Cameron reports Q2 sales increase
Jewett-Cameron Trading Co. has reported sales for the second quarter of fiscal 2013 of $14.2 million, compared with sales of $11.8 million for the second quarter of fiscal 2012. For the quarter, income from operations was $979,059 compared with $672,436 in the year-ago quarter.
For the six months ended Feb. 28, Jewett-Cameron reported sales of $23.5 million compared with sales of $19.0 million for the same period a year ago. Net income after other items and income taxes was $1.27 million, compared with net income of $1.35 million in the first six months of fiscal 2012. The current six-month period was positively affected by the gain on sale of property, while the year-ago six month period was positively affected by the reversal of Litigation Reserves.
"Our efforts to increase our market share of existing products continues to be reflected in our higher sales and operating income for the quarter and six-month period," said CEO Don Boone. "We are also pleased with the successful introduction of our new pet containment products."
PRO Group Conference set for Atlanta
Manufacturers will meet with PRO Group-affiliated distributors during the Group Merchandising Conference June 17-19, 2013, at the Embassy Suites Atlanta at Centennial Olympic Park.
Vendors have the opportunity to demonstrate and showcase products in private suites during the conference. According to Brendan Sullivan, director of merchandising for PRO Group, the conference offers a venue for all manufacturers — including seasonal vendors and those not currently doing business with PRO Group-affiliated distributors and retailers.
PRO Group’s operating units include PRO Hardware, GardenMaster, Farm Mart and Golden-Link.
Sullivan and PRO Group Merchandise Managers, Bob Reiling and Joy Smith, also meet with manufacturers and distributors during the event.
"The one-on-one meetings are a great opportunity for manufacturers to meet with buyers from PRO-affiliated distributors to discuss current and future specials, products and programs," Sullivan said. "The business casual atmosphere and social networking opportunities are a great way to establish relationships and to explore ways to grow the business within the hardware channel.”
Registration is still available for home improvement industry manufacturers interested in meeting with distributors at the annual Group Merchandising Conference organized by PRO Group, Inc.
Manufacturers interested in attending the Group Merchandising Conference should contact Brendan Sullivan at PRO Group, Inc. by phone at (303) 792-3000 or email [email protected] to be directed to the appropriate merchandise manager.
Builders confidence dips
Facing increasing costs for building materials and rising concerns about the supply of developed lots and labor, builders registered less confidence in the market for newly built, single-family homes in April, with a two-point drop to 42 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released Monday.
“Many builders are expressing frustration over being unable to respond to the rising demand for new homes due to difficulties in obtaining construction credit, overly restrictive mortgage lending rules and construction costs that are increasing at a faster pace than appraised values,” said Rick Judson, National Association of Home Builders (NAHB) chairman and a home builder from Charlotte, N.C. “While sales conditions are generally improving, these challenges are holding back new building and job creation.”
“Supply chains for building materials, developed lots and skilled workers will take some time to re-establish themselves following the recession, and in the meantime builders are feeling squeezed by higher costs and limited availability issues,” explained NAHB chief economist David Crowe. “That said, builders’ outlook for the next six months has improved due to the low inventory of for-sale homes, rock-bottom mortgage rates and rising consumer confidence.”
Derived from a monthly survey that NAHB has been conducting for 25 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index, where any number above 50 indicates that more builders view conditions as good than poor.
While the HMI component gauging current sales conditions declined two points to 45 and the component gauging buyer traffic declined four points to 30 in April, the component gauging sales expectations in the next six months posted a three-point gain to 53 — its highest level since February 2007.
Looking at three-month moving averages for regional HMI scores, the Northeast was unchanged at 38 in April, while the Midwest registered a two-point decline to 45, the South registered a four-point decline to 42, and the West posted a three-point decline to 55.