Issue Date:11/10/2008
The amendment, which was created to combat illegal logging, makes it illegal to "import, export, transport, sell, receive, acquire or purchase in interstate or foreign commerce" any plants or plant products obtained in violation of any domestic or international laws. It was enacted into law on May 22.
Manufacturer News Armstrong Hardwood Flooring (Lancaster, Pa.) announced third quarter sales of wood flooring at $171 million, down 11 percent from $191.9 million in the third quarter of 2007. The decline was attributed to weak residential housing activity. Overall, Armstrong posted sales of $929.6 million, a 2 percent increase from the same 2007 period, but excluding a $23 million benefit from foreign exchange rates, the company's sales decreased 1 percent for the quarter. During the first nine months of 2008, the company posted $2.7 billion in sales, almost identical to 2007's numbers. Excluding a favorable $84 million benefit from exchange rates, net sales fell 4 percent, the company said. Armstrong projects that the residential market will further decline significantly, while its commercial market should hold steady. Fourth quarter 2008 sales are projected at $3.5 billion. Armstrong World Industries' stock (AWI) has a 52-week high and low of $44.28 and $16.61, respectively, and closed Friday at $18.86.
Lumber Liquidators (Toano, Va.) posted third quarter sales of $123.1 million, a 20.6 percent increase from its 2007 third quarter, during which it had $102.1 million in sales. Same-store sales increased 2 percent, and noncomparable store sales accounted for 90.2 percent of the company's net sales increase. The company opened eight new stores during the quarter. President and CEO Jeffery W. Griffiths attributed the numbers to "increased operational efficiencies and a stronger infrastructure." During the first nine months of 2008, the company had $365.6 million in sales, during which it opened 27 new stores. Given these results and taking into account industry trends, the company narrowed its yearly net sales expectations to a range of $482 million to $486 million; previous projections were from $480 million to $490 million. Lumber Liquidator's stock (LL) has a 52-week high and low of $18.14 and $5.68, respectively, and closed Friday at $10.40.
On Nov. 3 Mohawk Industries Inc. (Dalton, Ga.) announced net sales decreased 9 percent from the same period during 2007. The third-quarter net loss was $1.4 billion, or $20.37 per stock share, and third quarter earnings were $1.8 billion. Mohawk's stock (MHK) has a 52-week high and low of $83.70 and $38.06, respectively, and closed Friday at $39.13.
BR-111 Imports & Exports Inc. (Medley, Fla.) opened a new designer showroom in Coral Gables, Fla., at 4105 Ponce de Leon Blvd. Authorized dealers can meet with their clients in the showroom. The company plans to eventually establish more showrooms throughout the country. In other company news, BR-111 provided flooring for Sunset magazine's Idea House, which recently opened to the public in Monterey Bay, Calif. The home incorporates many cutting-edge practices in sustainable home construction, and includes BR-111's Âľ-inch solid flooring and Antiquity Hand-Scraped flooring.
Richard Marshall Fine Flooring Inc. (Los Angeles) has announced it will sell its products to select top wood flooring contractors in major high-end residential markets. For more information, contact David Rapp at [email protected] or 800/689-5981.
Hamberger Industriewerke GmbH (Germany) has opened a warehouse in Chicago to house the company's engineered wood flooring, cork, custom wood flooring and wood tile. For more information, visit www.haro.com, or contact North American Sales Manager Sean Stewart at 866/608-4276 or [email protected] for product and distribution details.
Distributor News Appalachian Flooring Ltd. (Cowansville, Quebec) has completed its Northeastern U.S. corridor by adding the following distributors: Northeast Wood Floors (Buffalo, N.Y.), B & B Floor Coverings (Dryden, N.Y.), JMP Enterprises (Washington Mills, N.Y.) and North Pacific (Concord, N.H.).
Harvester Inc. (Westwood, N.J.) and Absolute Coatings Inc. (New Rochelle, N.Y.) are hosting a hands-on demonstration and training seminar for Last•n•Last product applications Dec. 4 at Harvester's headquarters. The lunch seminar will include a Weber grill raffle and free finish for attendees. For more information, contact [email protected].
Floor Style Products Inc. Dist. (Hastings, Mich.) held its annual Home Show and Training Seminar on Sept. 15. The show attracted more than 105 attendees, and it included hands-on demonstrations, as well as more than $3,000 in prizes.
People News Bona US (Aurora, Colo.) has announced three personnel changes. Todd Schutte is now director of professional products and sales. Schutte will lead Bona adhesives and industrial coatings and will continue to maintain responsibility for the Bona tech and training organization. Tom McNeil is now director of distribution sales; he joined Bona in March as the national retail and distribution manager. Gerry Mueller, senior director of strategic development, will retire in March after 12 years at Bona. Mueller most recently managed Bona's strategic projects and previously served as director of marketing.
Kennebec Lumber-Maine Traditions Hardwood Flooring (Solon, Maine) has named Brigitte Bernard sales and marketing manager. Bernard has 11 years in the flooring industry, having previously worked for Finium and Primatech. She can be reached at 418/878-5540, 207/643-2110 or [email protected].
Rehmeyer Precision Millwork Inc. (Shrewsbury, Pa.) has named Wendy Hines to its outside sales staff. Hines will be working in the New England area and can be reached at [email protected].
Greyne Custom Wood Co. (Baltimore, Md.) has appointed Lear Roemhildt as an independent sales representative. Roemhildt is based in Minneapolis and will cover the Midwest. He can be reached at 952/938-5450.
Richard Marshall Fine Flooring Inc. has added Account Executive Heather Perlman to its California sales team. Perlman has 16 years of experience in the hardwood flooring and interior design industries.
LOBA-Wakol LLC (Kannapolis, N.C.) has named Manny Hernandez its technical sales support person for Texas, Louisiana, Oklahoma, Mississippi, Kansas and Tennessee. Hernandez brings experience in both distribution and management, most recently having owned a flooring installation company in Lake Charles, La.
East Teak Fine Hardwoods Inc. (Sultan, Wash.) has promoted Rick McKinney to senior vice president. McKinney has been with the company since 1983.
Hartwig Siemerling has retired after three years as the CEO of Robina Wood Inc. (Kennesaw, Ga.). He has been in the hardwood flooring industry for more than a decade. Jason Loh will be the company's new CEO. Loh was most recently the founder of Redwood Trading Group, an import company of building materials and accessories. Loh also has experience in consulting for Fortune 100 companies.
Long Floor (Richmond, Va.) has added Scott Lynch to its Richmond-area sales team. Lynch most recently worked for Absolute Coatings and can be reached at 804/353-4419.
NWFA Member Services The NWFA's newest Distributor Profit Report, Let's Make Things Worse: Cutting Prices in a Down Market, is now available. Written by Dr. Al Bates, the report examines the impact of cutting prices on the bottom line, and provides alternatives to price cutting that can enhance gross margins in a down economy. To get the full report, visit www.nwfa.org, click on "Services and Supplies," then "Statistical Reports," then "Profit Improvement Reports." For more information, contact the NWFA at 800/422-4556 (U.S.), 800/848-8824 (Canada) or 636/519-9663 (local and international) or by e-mail at [email protected].
