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True Value to hold Retail Growth Conferences

BY HBSDEALER Staff

True Value will be holding three Retail Growth Conferences in August, giving members of the Chicago-based co-op an opportunity to share thoughts, ideas and concerns with president and CEO Lyle Heidemann and the senior management team.

The conferences include a series of breakout sessions, during which participants will share success stories and best practices that provide practical tools and suggestions for improving business results, the company said. This year’s topics include retail sales planning, financial management in a seasonal business and more.

In addition, True Value senior leadership will provide information about and updates on co-op initiatives and programs. The conferences are being held in Las Vegas (Aug. 1 to 2), Milwaukee (Aug. 8 to 9) and Boston (Aug. 22 to 23).

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New home sales dropped 6.6 percent

BY HBSDEALER Staff

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Beazer swings to loss in the third quarter

BY HBSDEALER Staff

Atlanta-based home builder Beazer Homes reported a third-quarter loss of $123 million, down from earnings of $102.6 million in last year’s third quarter.

The company saw sales fall 36.6 percent to $761 million from $1.2 billion last year.

The company took charges of $188.5 million for inventory impairments and for abandoning some land option contracts. Home closings fell to 2,666 homes compared with 4,156 homes last year. New orders also fell to 3,055 homes from 4,378 homes last year.

“Operating conditions in the housing industry deteriorated further in the fiscal third quarter and remain very challenging,” said president and CEO Ian McCarthy. “Most housing markets across the country continue to be characterized by an oversupply of both new and resale home inventory, reduced levels of consumer demand for new homes and aggressive price competition among home builders.”

Beazer Homes is one of the country’s largest single-family home builders with operations in 22 states.

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