LP issues warning on composite decking
Louisiana-Pacific has issued a product advisory for its composite decking materials purchased after Jan. 1, 2005, and made at its Meridian, Idaho, facility. Some of the products can prematurely deteriorate and break, posing a risk to consumers, the announcement said, blaming “variations in manufacturing processes.”
The affected products were sold under the WeatherBest name nationwide and under the Veranda and ABTCo brands at Home Depot stores in the western part of the United States.
Only the Veranda decking and railing products made by LP are subject to the advisory. WeatherBest products manufactured after LP’s sale of the Meridian plant in October 2007 are not affected.
Consumers should check their decks for cracks or chipping of the surface layers, the company said. LP will arrange an inspection to determine if decks are affected and will remedy the problem, up to replacement of the entire deck if necessary.
Hackett’s opens 10th location
Ogdensburg, N.Y.-based Hackett’s, a chain of department stores with full service hardware departments, opened its 10th location on Aug. 2 in Sackets Harbor, N.Y.
Hackett’s is one of the nation’s oldest retailers with roots dating back to 1830. Each store contains a full service True Value hardware department with traditional hardware, tools, plumbing, paint and electrical departments.
Other departments in the stores include men’s, women’s and children’s brand name apparel, athletic, casual and work footwear, home decor, gifts, seasonal merchandise and sporting goods.
The official grand opening, which includes door prize giveaways and other special promotions, is scheduled for Aug. 6 and will continue through the weekend.
“We were very pleased with the opening of the new location, and we received positive feedback from the customers that visited the store,” said Norm Garrelts, president of Hackett’s.
Third-quarter losses narrower at D.R. Horton
D.R. Horton recorded narrower — but still significant — losses in the third quarter. The home builder, one of the largest in the United States, lost $399.3 million in the period, compared with $823.8 million in losses in the same period last year.
The company took a $500 million charge for write-offs and folded land options contracts. In all, revenue from home and lot sales totaled $1.43 billion, down 43.9 percent from $2.55 billion in the same period.
“Although market conditions in the home-building industry remain challenging, we continue to focus on reducing our inventory and generating cash flow from operations,” said Donald R. Horton, chairman of the company’s board of directors, in a statement.
The company’s sales backlog of homes under contract as of June 30 was 8,281 homes, worth an estimated $1.9 billion. That’s significantly lower than the 15,801, worth around $4.4 billion, at the same time last year.
D.R. Horton has operations in 80 markets in 27 states.