Rebates and spirits high at Do it Best Fall Market
Do it Best members certainly had something to celebrate despite the fact that sales for the co-op were down 3.1% to just under $2.4 billion. The company managed to secure more than $100.6 million in rebates for its members.
The news was announced at the Fort Wayne, Ind.-based co-op’s annual shareholders meeting Sunday, during their 2010 Fall Market in Indianapolis.
Sales through retail service centers declined by 4.3%, direct sales were down 5.2%, but lumber was up 7.2%, according to the company. The full financial report will be released later this week.
President and CEO Bob Taylor attributed the company’s large member rebates during a weak economy to upgrades in the company’s logistics and order fill systems.
“You can’t change the wind, but you can adjust the sails, and I think our team did exactly that this past year as we delivered another solid year of performance,” he said.
Taylor attributed the company’s strong performance to the installation of its new voice-pick system, called Jennifer, which reduced the amount of time and mistakes made in filling orders and helped trim warehouse returns in excess of 11% from last year.
The company also reduced its outbound freight costs by 4.2%, or $1.9 million and cut more than 1 million delivery miles.
Taylor said the company’s industrial commercial sector (INCOM) represented the strongest performing division, and saw more than 60 new members in fiscal 2010.
Taylor urged members to find ways to drive excitement into their businesses. He used the example of Indianapolis-based Sullivan Hardware’s recent Eggfest, a music and barbecue festival centered around the Big Green Egg.
“How many of you all have actually charged your customers admission to come into one of your sales?” Taylor asked the crowd. “Pat [Sullivan] charged $10 a head to come in and had people drive in from Ohio to come in for Eggfest.”
The meeting also saw the appointment of Pat Sullivan to chairman of the board of directors, succeeding Mike Fujimoto of Hilo, Hawaii-based HPM Building Supply.
Fujimoto talked of the hardships his family’s company endured since its inception at the turn of the century, including being seized by the U.S. Navy during World War II under the War Powers Act, as well as rebuilding twice after tsunamis destroyed the business in 1946 and 1960.
“My family and the company were able to make it through all of these setbacks because we remained faithful to the core purpose and values that defined who we are. … We live and die by these values,” Fujimoto said.
“I look back on the history of HPM, and perseverance is woven throughout,” he said.
TSC Stores hires former Home Hardware executive
London, Ontario-based TSC Stores has hired former Home Hardware executive Andrew Pantelides.
At TSC, Pantelides serves as category manager for work wear, safety wear, hunting, camping, fishing and ammunition.
TSC Store operates 42 corporate stores in Canada. That includes 40 stores located in Ontario, and two additional stores in Brandon and Winkler, Manitoba. Among these is a new concept store called Villager by TSC Stores, located in Milton, Ontario.
Previously, Pantelides was LBM national product manager for Home Hardware Stores. He also served on the board of the ProDealer Industry Summit, an event run jointly by the National Lumber & Building Material Dealers Association and Home Channel News.
In 50 states, Ace paints 50 high schools
Oak Brook, Ill.-based Ace Hardware announced the winners of its Helpful Hands campaign to provide 50 high schools across the United States with $2,000 paint makeovers this week.
The company said one high school from each state was selected to receive the makeover with help from a local Ace retailer. The company issued a customer call for nominations in May, and the paint projects will be taking place throughout the 2010-2011 school year.
Ace Paint, a division of Ace Hardware Corp., will supply the paint for each project, along with product donations from local Ace retailers, the company said.
“We are excited to announce the winning high schools for our Helpful Hands campaign, a program that encourages community support and outreach to our nation’s schools,” said Lou Manfredini, Ace’s home expert.
“Often when the economy is down and budgets are cut, physical improvements to schools are overshadowed. In the face of this, it’s Ace’s goal to reestablish pride in our communities with a fresh coat of paint.”
Ace announced the winners Oct. 5 at the Duke Ellington School of the Arts in Washington, D.C., followed by a paint makeover of the school’s mezzanine art gallery led by Ace Hardware stores in D.C.
Afull list of the winning schools can be found below:
• Loveless Academic Magnet Program High School – Montgomery, Ala. • Bartlett High School – Anchorage, Alaska • Maricopa High School – Maricopa, Ariz. • Concord High School – Concord, Ark. • Inglewood High School – Inglewood, Calif. • George Washington High School – Denver • Emmett O’Brien Technical High School – Ansonia, Conn. • Delcastle Technical High School – Wilmington, Del. • The Broach School – Jacksonville, Fla. • Druid Hills High School – Atlanta • Kalani High School – Honolulu • Scism Alternative High School – Nampa, Idaho • Josephinum Academy – Chicago • Arlington Community High School – Indianapolis • North High School – Des Moines, Iowa • Wichita High School West – Wichita, Kan. • Bullitt Central High School – Shepherdsville, Ky. • Slidell High School – Slidell, La. • Yarmouth High School – Yarmouth, Maine • Baltimore City College High School – Baltimore • Phoenix Charter Academy – Chelsea, Mass. • Carman-Ainsworth High School – Flint, Mich. • Wadena-Deer Creek High School – Wadena, Minn. • Forest Hill High School – Jackson, Miss. • St. Joseph Academy – St. Louis • Billings West High School – Billings, Mont. • Nebraska Christian Schools – Central City, Neb. • Basic High School – Henderson, Nev. • Goffstown High School – Goffstown, N.H. • Atlantic County Institute of Technology – Mays Landing, N.J. • Santa Fe High School – Santa Fe, N.M. • Academy of Mount St. Ursula – Bronx, N.Y. • Rosman High School – Rosman, N.C. • Rugby High School – Rugby, N.D. • Steubenville High School – Steubenville, Ohio • Drumright High School – Drumright, Okla. • Oregon School for the Deaf – Salem, Ore. • Cedar Cliff High School – Camp Hill, Pa. • Warwick Veterans Memorial High School – Warwick, R.I. • Wilson High School – Florence, S.C. • Rutland School – Rutland, S.D. • Westwood High School – Memphis, Tenn. • Westfield High School – Houston • Hurricane High School – Hurricane, Utah • Canaan High School – Canaan, Vt. • Fort Defiance High School – Fort Defiance, Va. • Prairie High School – Vancouver, Wash. • Wayne High School – Wayne, W.Va. • Cambria-Friesland School District – Cambria, Wis. • Jackson Hole High School – Jackson, Wyo.