Hooker Furnishings Corporation reported consolidated net sales of $147.3 million for its fiscal 2023 first quarter ended May 1, 2022, a $15.5 million, or 9.5%, decrease as compared to a year ago. Consolidated net income for the quarter was $3.2 million, or $0.26 per diluted share, as compared to $9.4 million or $0.78 per diluted […]
ECMD, Inc. Announces New President and CEO
North Wilkesboro-based ECMD, Inc. announced as part of a strategic succession plan that its Board of Directors has promoted Kelly Hendrix to be their new President and CEO effective June 1, 2022. Kelly succeeds Todd Meade who will begin a retirement transition plan. Mr. Hendrix joined ECMD in 2018 as Vice President, Klumb Forest Products. In […]
Perrone and Barrett Assume New Director Roles at McCoy’s Building Supply
McCoy’s Building Supply recently announced that Rob Perrone had been promoted to Director of Merchandising – Hardlines. Lisa Barrett will be the Director of Store Planning & Visual Merchandising. The appointments come alongside the company’s continued growth and expansion. “I’ve spent my entire career at McCoy’s working in our stores. It’s exciting to have […]
NAHB: Home Purchases Trigger Big Spending on Remodeling, Appliances and Furnishings
Buyers of new and existing homes spend thousands of dollars more on appliances, furnishings and remodeling in the first year after a purchase compared to non-moving home owners, according to NAHB estimates using the Consumer Expenditure Survey (“CES”) data from the Bureau of Labor Statistics (“BLS”). NAHB’s most recent estimates are based on the pre-pandemic […]
Greif Reports Second Quarter 2022 Results
Greif, Inc. (“Greif”), a global leader in industrial packaging products and services, today announced second quarter 2022 results. Second Quarter Financial Highlights include (all results compared to the second quarter of 2021 unless otherwise noted): Net income of $125.1 million or $2.09 per diluted Class A share decreased compared to net income of $149.8 million […]
Paper Excellence Receives $4.5 Million in Funding From the Investments in Forest Industry Transformation Program
Paper Excellence is pleased to have received $4.5 million from the Investments in Forest Industry Transformation (“IFIT”) program. This funding will help support an important transformation project taking place at our Catalyst Port Alberni mill. The $4.5 million will be invested at Catalyst Port Alberni to expand the mill’s production capacity for food packaging papers. […]
Mortgage Applications Decrease in June 8th MBA Weekly Survey
Mortgage applications decreased 6.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 3, 2022. This week’s results include an adjustment for the Memorial Day holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 6.5 percent on […]
Madison’s Reporter: Supply / Demand Balance Brings Lumber Prices Down
A normal drop in orders for this time of year lead to sharp decreases in lumber prices. Recent sawmill curtailments — due to severe delivery delays and ongoing logistics problems — notwithstanding, lumber supply and inventories in the field increased to more healthy levels. Thus customers were in a better negotiating position than the past […]
PPG to Exhibit Newly Acquired Vanberg Specialized Coatings Solutions at World Pork Expo
PPG announced that it will feature its recently acquired Vanberg Specialized Coatings line of agriculturally focused protective coatings and repair mortars at the World Pork Expo, June 8-10, 2022, at the Iowa State Fairgrounds in Des Moines. PPG added the Vanberg product portfolio as part of its acquisition of VersaFlex Inc. in February 2021. For […]
Associated Materials LLC Names James Drexinger as Chief Executive Officer
Associated Materials LLC, a vertically integrated building products company that is a market leader in vinyl windows, vinyl cladding, and metal siding and trim, announced the appointment of James Drexinger as Chief Executive Officer, effective immediately. Mr. Drexinger succeeds Brian Strauss, who has served as President and CEO of Associated Materials since 2014. Mr. Drexinger […]