Winners and losers from earnings season
Overall, the sales data from the publicly traded companies focused on home improvement and building materials shows a trend toward growth. Twenty-one companies showed sales gains over the previous year’s quarter, and nine showed sales declines.
Analysis of the sales data also shows:
The bad: Punishing weather was a common theme across the spectrum, contributing to nine companies’ posting quarterly sales declines.
The ugly: Louisiana-Pacific sales of $445 million declined 16% from the prior-year quarter, the largest percentage decline on the Stock Watch.
Quotable: “The theme for this year’s spring plan was ‘Spring is Calling.’ It didn’t call as early as we initially expected, but when it did, we were well prepared and where id did, we performed well.”
— Mike Jones, Lowe’s chief customer officer.
Readers Respond: What is ‘Made in USA?’
[The following letter is a response to “NRF sees ‘made in USA,’ even in imports,” which appeared in the May 28 HCN Daily.]
"Is the NRF trying to make us believe even though a product comes in from China, it's really to be considered a U.S.-made product because it has 'some' U.S. content? That's stretching the truth.
"We U.S. manufacturers are greedy … we want 'all of the jobs' here, not part of them. The FTC states, 'all, or virtually all' is the requirement for 'Made in USA.' There are no other legal designations.
"I think if the NRF were to poll the millions of Americans out of work, they might sing a different song."
— Bill Keller,
Keller Mfg. Co.,
St. Louis, Missouri
NARI names Ulreich as CEO
The National Association of the Remodeling Industry, or NARI, has named Fred Ulreich as CEO. Previously, Ulreich was NARI’s director of business development and national membership.
Ulreich will focus on guiding NARI’s board of directors, staff, chapters, members and partners toward achieving the objectives established within NARI’s 2020 plan, which includes growing membership and revenue through the year 2020.
“Through our national search we were presented with many highly qualified candidates for the position,” said NARI chairman Art Donnelly, MCR, CKBR, who was part of the Executive Search Committee. “Fred, while his qualifications were impeccable, also brings with him a unique talent for building highly effective teams and a contagious enthusiasm for achievement and growth. NARI stands on a very solid foundation today and is poised for growth as our industry rebounds and expands on the heels of this past recession. Fred was chosen because the committee saw him as the right individual, at the right time for all the right reasons."
“NARI’s position as ‘The Voice of the Remodeling Industry’ is strong — our members have proven themselves to be the most professional in our industry,” Ulreich said. “My job, as CEO, is to share that message and allow the NARI brand to be even more visible, inside the industry and out, as well as to the consuming public.”
Previous to joining NARI in September 2013, Ulreich was VP market development at Affinity Central International, developing innovative solutions for associations to create loyalty programs as a value-added membership benefit.
In addition to experiences at ACI and Wells Fargo — where he focused on products for trade and alumni associations — Ulreich spent seven years as executive director at the U.S. Chamber of Commerce, the world’s largest business organization representing the interests of more than 3 million businesses of all sizes, sectorsand regions.
Ulreich replaces Mary Busey Harris, CAE, who was NARI’s previous executive VP.