Personnel Updates
• Do It Best Corp. (135) named Nicole Green Merchandise Manager for Outdoor Living; Michael McCoy Merchandise Manager for Outdoor Recreation and Safety; and Lauren Wilson Rental, Impulse, Snacks and Store Supplies. The company also named Mike Ter Molan as Director of LBM Operations.
• Friedman’s Home Improvement (16) brought in Charley Johnson to fill the newly created role of VP Pro and Design Services. Johnson joins the company from Best Buy. Richard Morano joined the company to fill another newly created position, that of VP of IT. He comes from Orchard Supply. Finally, Joe Covert joined the Friedman’s team as VP of Merchandising from retailer Restoration Hardware.
Financial Focus
• Beacon Roofing announced FYE 9/30/18 total sales increased 46.6% to a record of $6.42B up from $4.38B in 2017.
Industry Insight
• Carter Lumber has signed a partnership agreement with True Value, citing True Value’s move away from the co-op model as making the deal possible.
• Friedman’s Home Improvement opened of a distribution facility in Windsor, CA to serve the pros with job- site direct delivery.
• Lowe’s opened a new $150 million, 1.1-million-square-foot direct fulfillment center in Coopertown, TN.
• Lowe’s will end operations in Mexico in another move to focus on its core business.
• Sears Hometown and Outlet Stores will close 80-100 stores in the 4th quarter.
Mergers and Acquisitions
• US LBM acquired Deering Lumber, a 3-unit operation in Maine.
