Menards plans biggest store yet
Menards is hoping to expand an existing mega store in Tinley Park, Ill. according to an article in the TribLocal, adding 110,000-square feet to its 202,000-square foot building and 148,000-square-foot lumberyard. The grand total – 360,000 square feet – would make the store the largest unit in the Midwestern home improvement chain.
The deal is dependent on a $1 million incentive deal from the Village of Tinley Park, which would allow the retailer to purchase a nine-acre parcel, including the Southtown Star building. Aaron Morrissey, a real estate representative with Menards, said the company plans to use the building and extra space to expand its lumber yard and create a new garden center to attract more business.
The cost of the expansion project is estimated to be $4 million.
Eau Claire, Wis.-based Menards is requesting a new sales tax incentive agreement from Tinley Park that would allow it to collect half of any new sales tax revenues each year for the next 10 years with a ceiling of $1 million. The sharing agreement would only apply to sales tax revenues above the base amount of $288,000, which will all still go to municipal coffers.
The retailer has already gained approval from the Finance and Economic Development Committee, according to the news report. It must now go before the full board of Tinley Park for a vote next week.
Wolf Appliance rolls out 54-in. grill
Madison, Wis.-based Wolf Appliance introduced its largest grill to date — a 54-in., 51,000 Btu unit with five stainless steel burners.
An optional side burner for high heat and preparing side dishes is available and packs 25,000 Btu into the outdoor configuration.
The company says the product is a response to consumer demand for more variety in outdoor grills.
Completing the full-scale outdoor cooking experience, the 54-in. grill comes equipped with a hood assist system, LED-lit control knobs, a two-position electric rotisserie (that puts out 14,000 Btu), a three-position warming rack, dual halogen interior lighting, an external thermometer and hot surface ignition.
Loss narrows at American Woodmark
Cabinet specialist American Woodmark Corp. reported sales for the third quarter increased 25% to $111.4 million. The company’s sales results in each of its sales channels grew at a double-digit rate during the quarter ended Jan. 31.
The Winchester, Va.-based company’s loss narrowed to $5.83 million, compared with a net loss of $9.12 million in the same quarter last year.
American Woodmark manufactures and distributes kitchen cabinets and vanities for the remodeling and new-home construction markets. Its products are sold on a national basis directly to home centers, major builders and through a network of independent distributors.
The company presently operates 11 manufacturing facilities and nine service centers across the country.