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Tractor Supply kicks off FFA fundraising campaign

BY HBSDealer Staff

February marks the start of Tractor Supply Company’s fundraising campaign for FFA chapters across the country.

The collection coincides with National FFA week, which runs Feb. 17-24. Tractor Supply customers can donate $1 or more while shopping in store or online.

Donations will fund the national Grants for Growing program, supporting local FFA chapters that are making a difference in their communities through unique and sustainable agricultural projects. The program is coordinated through a partnership with the National FFA Foundation and Tractor Supply, the country’s largest rural lifestyle retailer.

“Through the generosity and assistance of our customers and team members, we are honored to support local FFA chapters across the country through our Grants for Growing program,” said Christi Korzekwa, senior VP of marketing at Tractor Supply Company. “This initiative not only allows us to invest in the next generation of agricultural leaders, but also the future of agricultural education.”

Grants for Growing has raised more than $1.4 million for the National FFA Organization since its start in 2016. The initiative has funded a total of 692 grants supporting projects involving more than 69,000 students.

Last October, Tractor Supply held its most successful 4-H fundraising campaign with nearly $1 million raised.

Tractor Supply Company operates 1,685 Tractor Supply stores in 49 states. The Brentwood, Tenn.-based retailer also owns and operates the Petsense banner – a small-box pet specialty supply retailer with 168 stores in 26 states. 

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Market Recap: RISI Crow’s Construction Materials Cost Index

BY HBSDEALER Staff

A price index of lumber and panels used in actual construction for Feb. 2, 2018.

Western: regional species perimeter foundation
Southern: regional species slab construction

Crow's Market Recap: A condensed recap of the market conditions for the major North American softwood lumber and panel products as reported in Crow's Weekly Market Report.

Lumber

SPF sales activity at mills slowed, particularly demand for the key narrow width items, but prices remained solid or edged higher. While buyers looked to wholesalers to cover needs, wholesalers also reported a slower pace to their sales. Down moves in lumber futures early in the week garnered some of the blame for the pullback. 

  • Southern Pine pricing continued to move strongly upward. Mills sold steady volumes, maintaining solid order files extending two weeks, and in a few instances, longer. Tight availability often made it difficult for buyers to locate specific needs.
  • Limited supplies and enough demand to absorb them kept strong upward pressure on many Coastal species prices. Doug Fir producers raised narrow-width prices aggressively and sold at sharply higher levels. Buyers wasted little time purchasing sporadic mill offerings at elevated price levels.
  • The speed with which Inland pricing has moved accelerated further, pushing lumber prices beyond or very near record levels. The nexus of price gains was Std&Btr/#2&Btr lumber, which moved swiftly enough to drag Select Structural/#1&Btr upward and lift both Utility/#3 and Economy lumber into some movement.
  • Stud pricing maintained upward momentum. Prices remained particularly strong in 9-foot, with both 2×4 and 2×6 showing double digit gains. Increases in 10-foot also occurred. Supplies across a number of species remained tight.
  • The trend of upward Ponderosa Pine prices continued, with both 5/4 and 6/4 Shop adding $10 to previous levels. Remanufacturers voiced pain at the new levels, but they generally hesitated only briefly before putting in new orders. Ponderosa Pine Selects have remained unchanged for a couple of weeks; not so the Commons, which were driven higher in prices by producers who fear running out of inventory before new logs come in.
  • Western Red Cedar producers reported good sales activity. Getting the wood to market was not as fluid. Truck and railcar availability remained tight, creating a bottleneck at the mill level. 

Panels

OSB availability was squeezed by producers off the market and transportation issues putting shipments late. However, activity was widely noted slower as the system digested volumes purchased in recent weeks. Order files are into mid- to late February, and some early March. 

  • Southern Pine plywood flowed from mills at a steady rate, propelling prices again higher. Mill offerings across many items were sporadic as producers pulled volumes from the market at varying intervals. Mill order files ranged from the week of Feb. 19 out to March 5.
  • After a relatively slow start to the week, Western Fir plywood buyers reentered the market at midweek and began to purchase significant volumes. The quicker pace extended order files and placed continued upward pressure on prices.
  • Canadian plywood entered a digestive mode this week after several weeks of almost frenzied buying. Markets remained very solid with everyone bullish, but order files out 10 weeks cooled things down a little. Order files moved solidly into the first week of April, with some wood remaining for March 26.
  • Eastern particleboard and MDF producers noted an increase in sales. However, some of the additional buying activity came on the heels of weeks in which weather inhibited sales. 

For more on RISI, click here.

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Simpson Manufacturing Q4 sales growth fueled by acquisitions

BY HBSDealer Staff

Simpson Manufacturing reported fourth quarter 2017 consolidated net sales of $231.7 million, a 16% increase compared to $200.2 million in the fourth quarter 2016.

Recently acquired businesses as a whole accounted for $8.3 million (26%) of the increased net sales, the Pleasanton, Calif.-based building products manufacturer said.

For the full year, Simpson reported consolidated net sales of $977 million, up 14% from consolidated net sales of $860.7 million in 2016. Acquired businesses accounted for nearly $48 million of increased net sales.

The company also reported a net income of $13.1 million for the quarter, nearly a 25% drop from a consolidated net income of $17.4 million in the fourth quarter a year ago.

Simpson reported that recently acquired businesses as a whole recorded a net loss of $3.4 million in the fourth quarter 2017.

Simpson’s consolidated net income for all of 2017 was $92.6 million, a 3% increase from $89.7 million in 2016. Recently acquired businesses contributed a net income of $1.8 million for the year.

Looking ahead, Karen Colonias, president and CEO of Simpson Manufacturing, said, “We feel we are well positioned to achieve an 8% compound annual growth rate in net sales through 2020 supported by anticipated mid-single digit growth in U.S. housing starts, the $30 million opportunity for our mechanical anchor product line in The Home Depot stores, our increased market share and profitability in Europe and our market share gains in both truss and concrete product offerings."

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