Nest recalls 440,000 smoke alarms
Nest Labs is recalling approximately 440,000 units of its Nest Protect: Smoke + CO Alarm after discovering potentially dangerous flaws in the Nest Wave feature.
According to the Consumer Product Safety Commission, nearby activity during a fire can prevent the alarm from immediately sounding when the Nest Wave feature is enabled, which is intended to silence alarms with the wave of an arm. However, there have been no reports of any incidents thus far.
The announcement follows shortly after the company decided to halt sales of the product.
The recall affects all Nest Protect Smoke + CO alarms, which come in black or white with the word "nest" on a large button on the face of the alarm. They were sold at Best Buy, Home Depot and other retailers nationwide, as well as online at nest.com, amazon.com, bestbuy.com and homedepot.com from November 15, 2013 to April 3, 2014 for about $130.
Users who are connected to the wireless network should receive an automatic electronic update that disables the Wave feature.
Those who aren’t connected are advised to do so immediately in order to receive the update, and to confirm with Nest Labs that their software is up to date.
Toro’s sales plow ahead in Q2
The Toro Company made solid progress in the second fiscal quarter of 2014, with net sales up 5.8% and earnings pushing ahead 11.1%.
Total sales for the three-month period ended May 2, 2014 were $745.0 million, up from $704.5 million a year ago. Sales for the six-month period were also up 3.6%.
Meanwhile, net earnings came in at $87.1 million for the quarter, compared to $78.4 million in 2013.
“I’m proud of our team’s execution that delivered record sales and earnings for the quarter despite challenging spring weather conditions for the second straight year,” said Chairman and CEO Michael Hoffman. “Although retail sales of some residential products were hampered by the late spring, we experienced strong growth in our landscape maintenance business."
Despite challenging winter weather conditions that impacted sales across the industry, Toro attributed part of its success to strong demand for snow products and landscape maintenance equipment.
"Contractors who benefited from the robust snow season last winter invested in more new turf equipment during the quarter, favoring our productivity-enhancing mowers," added Hoffman. "In addition, shipments of golf equipment and irrigation products increased due to channel demand for our innovative new product offerings, including the recently introduced INFINITY sprinklers.”
Cedar Creek boosts presence in Mississippi
Oklahoma City-based Cedar Creek entered into a lease agreement to open a new location in Long Beach, Mississippi, by Dec. 1.
According to Cedar Creek CEO Bill Adams, “This is a great strategic fit as it positions us to provide optimal service to customers along the Gulf Coast from the Florida panhandle across the southern tier of Alabama, Mississippi and Louisiana.“
Cedar Creek covers some of the Gulf Coast currently, but the company thinks the facility will improve service to existing customers while providing access to new customers.
Cedar Creek is a leading wholesale building material distribution company with 24 locations serving over 30 states. In May 2010, Cedar Creek was recapitalized by Boston-based Charlesbank Capital Partners, with the goal of providing flexible capital for the company to grow beyond its current trade areas.