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Orgill Report 2014

BY HBSDEALER Staff
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Christopher Durham named VP retail brands at Theory House

BY HBSDEALER Staff

Christopher Durham has been named VP retail brands at Theory House, a Charlotte, N.C.-based marketing agency that has worked with major home improvement brands, such as Lowe’s, WW Grainger, Husqvarna and Gunk.

“Theory House is poised to take our next step in becoming the preeminent retail branding firm, and Christopher’s expertise and passion for building private brands aligns perfectly with our vision,” said Jim Cusson, president, Theory House. “His retail and store brand knowledge is well-respected throughout the industry, and the strategic skills he brings to the table round out our agency’s offerings, deepening our ability to help our client’s brands thrive.”

Durham has more than 20 years of experience under his belt in brand management, during which he created the My Private Brand website, which helps retailers turn private labels into consumer brands. His portfolio includes work for Office Depot, Best Buy, Food Lion, Hannaford and Lowe’s. For the latter, he developed and implemented brand strategies for a number of its private brands, including Blue Hawk, Style Selections, Project Source, Harbor Breeze and allen+roth.

“Theory House delivers tremendous strategic thinking and effective design to its clients," said Durham. "I’m looking forward to bolstering the team’s ability to help retailers develop and grow what I believe is one of their most underutilized assets — their private brand portfolio. Together we will provide world-class strategy, branding, design and execution by creating compelling, differentiated and profitable retail brands.”

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Amid CEO transition, Masco posts sales gains

BY HBSDEALER Staff

Taylor, Mich.-based Masco Corp.’s fourth-quarter net sales from continuing operations increased 9% to $2.0 billion, the company reported late Monday.

For the full year, net sales increased 9% to $8.2 billion.

Net income for the fourth quarter was $45 million, compared with a loss of $87 million in the same quarter last year. For the full year, net income swung to a profit of $272 million, compared with a loss of $114 million in 2012.

"We delivered a strong fourth quarter with improved top- and bottom-line growth across all five operating segments," said Masco`s president and CEO, Timothy Wadhams. "Sales growth was driven by new products and increased international sales that outperformed the Eurozone economies. In North America, we continued to benefit from the growth of new-home construction and improved repair and remodel activity and our operating leverage. Our strong fourth-quarter performance reflects our ongoing commitment to successfully deliver on our strategic initiatives, which include leveraging our brands, reducing our costs, improving our Installation and Cabinet segments and strengthening our balance sheet."

Keith Allman will succeed Wadhams as president and CEO upon his retirement Feb. 14.

"In 2014, we expect new-home construction and repair and remodel activity to show continued improvement in North America and internationally," said Allman. "Our focus will be to continue to maximize the benefits of this activity and maintain the positive momentum that started for us in the fourth quarter of 2012. We believe we are well positioned to grow our key brands and to gain market share in 2014. We will continue to focus on developing our innovation pipeline, improving our enterprise leverage, driving a high-performance culture and focusing on continuous improvement in all we do." 

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