Restoration Hardware plans to go public, again
The luxury home furnishings retailer Restoration Hardware filed to become a publicly traded company, according to an article in Business Week.
The home furnishings company opened its first store in Eureka, Calif., about 30 years ago. Today it operates more than 100 retail and outlet stores in the U.S. and Canada. In 2008, the company underwent a management-led, private-equity buyout.
AHMA Industry Confidence Index improves in August
The American Hardware Manufacturers Association’s AHMA Home Improvement Industry Confidence Index’s Current Situation Index improved in August to 229.2 from 225 in July (October 2008 = 100), while the Future Expectations Index was unchanged at 193.1.
In comparing current sales levels with year-ago levels, 55% of respondents said sales were higher in August versus year-ago levels, up from 54% in July. For August, 10% reported sales were even, and 34% said sales were below year-ago levels.
Looking forward six months, 48% of August respondents said they expect sales to be above current levels, up from 44% in July. In August, 38% of respondents said they expect sales to be even in six months, and 14% expect sales to be below current levels.
Looking forward one year, 64% of respondents project sales will be higher, down from 68% who felt that way in July. Thirty-two percent of August respondents project sales will be even one year from now, and 4% project sales will be below current levels.
Timothy Farrell, president and CEO of the AHMA, said: “While it is encouraging that our members are reporting slightly improved sales levels compared with last year, we remain unsatisfied with the rate of progress in the overall economy. Until confidence is restored in the future of the U.S. economy, we suspect businesses will continue to be very cautious when considering investments going forward.”
Masco declares quarterly dividend
Masco Corp. announced that its board of directors declared a quarterly dividend of $.075 per common share, payable on Nov. 7, 2011, to shareholders of record on Oct. 7, 2011.
Headquartered in Taylor, Michigan, Masco Corp. is a leading manufacturer of home improvement and building products — including Arrow, Delta, Behr and KraftMaid — as well as a leading provider of services that include the installation of insulation and other building products.