Trex enters outdoor furniture market
Winchester, Va.-based Trex announced it has entered into a licensing agreement with Syracuse, Ind.-based Poly-Wood Inc., to develop and market outdoor living furniture.
The new Trex Outdoor Furniture collection will feature 26 exclusive designs across four different product lines including Adirondack chairs, ottomans, settees, sofas and chaise lounges, as well as coffee tables, side tables and dining sets, the company said. Each piece will be available in six distinctive colors — such as Vintage Lantern, Tree House, Classic White and Charcoal Black — that may be mixed and matched with Trex Transcend decking and railing for a completely customized outdoor living space.
“This partnership is a significant potential growth driver for Trex, as it will strategically expand our brand presence in the outdoor living arena and position us to drive consumer awareness and acceptance of the emerging high-performance outdoor furniture segment,” said Ronald Kaplan, chairman, president and CEO of Trex. “With this launch, we’ll not only offer additional profitable product options to our existing professional partners, but we’ll also have the opportunity to enter new distribution channels and retail locations.”
Just like Trex decking, the new furniture line is promoted as a product that won’t rot, splinter or crack, and — unlike wood furniture — doesn’t require staining, sealing, painting or refinishing. It also includes a five-year residential warranty.
There have been great
There have been great improvements in the product line no doubt. So it is only a matter of time to rake in huge benefits. If you survey the market properly you would find many new furniture designs are taking over the market. I recently bought Tub Chair for my home.
HD Supply sees signs of stabilization
HD Supply today reported net sales of $1.974 billion for the second quarter, up slightly from $1.973 billion in the same quarter last year.
Consolidated net loss for the second quarter of fiscal 2010 was $115 million, compared with a net loss of $89 million for the same period in fiscal 2009.
“As we enter the second half of this year, we are beginning to see signs of economic and industry stabilization and are cautiously optimistic,” said CEO Joe DeAngelo. “We continue to invest in the critical growth areas for our business that will uniquely position HD Supply to grow faster than the markets as they recover.”
Net sales for the first six months of fiscal 2010 were $3.8 billion, a decline of 2.8% compared with the first six months of fiscal 2009. Operating income in the first six months of fiscal 2010 improved $11 million to $5 million compared with an operating loss of $6 million in the first six months of fiscal 2009.
“Over the past six months, we have enhanced our product mix, continued to improve our operational efficiencies and have made critical investments in our technology systems. In addition, our teams are intensely focused on maintaining and growing current customer relationships, and earning new business by providing outstanding service to our customers,” DeAngelo added. “Our growing liquidity and the extension of the majority of our debt maturities to 2014 enhances our solid financial position.”
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Lowe’s expands energy center nationwide
After a 21-store trial period in California last year, Lowe’s announced it is launching its Energy Center nationwide.
Designed to be a one-stop destination for energy-saving products, Lowe’s said The Energy Center is a fully integrated energy solution, bringing products that measure, reduce and generate energy to one convenient location.
“The Energy Center builds on Lowe’s commitment to bring more innovative products and services to our customers,” said Nick Canter, Lowe’s EVP merchandising. “By pulling together comprehensive options to help them manage their energy use, the Energy Center makes it easier for customers to become more energy efficient while putting money back in their pocket.”
The new Energy Centers take a three-tier approach to saving energy around the home. They feature products to measure energy loss, reduce energy consumption and even help generate new energy through solar power.
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