In one Eastern European country, IKEA breaks record
Swedish retailer IKEA has had record-setting sales at its Czech Republic stores, according to a report in the Prague Daily Monitor.
For IKEA CR, the company’s Czech Republic division, revenue was a record-setting 464 million Czeck Republic Korunies (US$25.97 million), up 212 percent from $8.3 million last year.
The company saw sales of $324.6 million for the year, up 20.8 percent from $268.6 million last year.
IKEA stores in the Czech Republic were visited by 7.47 million people, of whom 4.2 million were paying customers, according to the report. The number of visitors and paying customers rose 14 percent and 18 percent, respectively.
IKEA expects to see sales rise 13 percent in 2008. The retailer operates four stores in the Czech Republic. Though no new stores are planned in that country in 2008, the company expects to double its store count in Slovakia and Hungary next year.
CPG International reports strong third quarter
CPG International, the parent company of AZEK Building Products, reported earnings of $342,000 in the third quarter, swinging from a loss last year of $756,000.
Sales rose 25 percent to $82.55 million compared with $65.75 million in the same period last year.
“Although the residential housing market further weakened in the third quarter, CPG continued to execute on its business plan achieving impressive growth for the quarter,” said Glenn Fischer, CPG’s interim CEO.
Highlights of the third quarter include expansion of the company’s PVC deck manufacturing capabilities, with CPG adding further manufacturing capacity at plants in Alabama and Pennsylvania. Additionally, the company kicked off a 98-store test program of its AZEK Trim product in Home Depot stores.
CPG International, based in Scranton, Pa., markets products under several brands including AZEK Trim and Mouldings, AZEK Deck and Santana Products.
Building Materials Supply expands Simpson Strong-Tie distribution
Galt, Calif.-based Building Materials Distributors announced it will expand its distribution of Simpson Strong-Tie products into Colorado, Wyoming, eastern Washington, northern Idaho and western Montana.
The new markets join BMD’s core markets in California and Nevada.
BMD became the first Simpson Strong-Tie distributor in 1952.
“BMD has been an integral part of Simpson’s success. Due to BMD’s commitment and dedication, we recently expanded our partnership. We look forward to continued success with BMD,” said Dave Simpkins of Simpson Strong-Tie.
BMD is a wholesale distributor of building materials focusing on the western United States.