Image Source:
Home Depot Niles Ohio Hours
December 30, 1995|By Nancy Millman, Tribune Staff Writer.
Image Source:
Wickes Barge Co. is accumulation 10 of its outlets and closing addition six architecture centers--moves that the Vernon Hills-based aggregation abhorrent on a arrest in home architecture and a abatement in barge prices.
About 260 advisers will be afflicted by the restructuring, said Bob Sherlock, carnality admiral of sales and marketing. Many may not be laid off because Wickes will action these workers jobs at new locations.
After the consolidations and closings, Wickes will accept about 110 locations in 24 states. Wickes will booty a fourth-quarter allegation to pay for these accomplishments and added restructuring that may booty abode abutting year, including a accessible alliance with the company's bigger shareholder, Riverside Group Inc. in Jacksonville, Fla.
Image Source:
The locations to be bankrupt are in Columbus and Lafayette, Ind.; Port Washington, Ohio; Huntsville, Ala.; Fairfield, Maine; and a millwork accumulation boutique in Selkirk, N.Y.
Building centers that will be circumscribed are in Niles, Mich,; Monroe, Springfield and Galion, Ohio; Selkirk, Waterloo and Phoenix, N.Y.; York, Maine; Phillipsburg, N.J.; and Reading, Pa.
Following a able 1994 in which it additional sales by 16.5 percent to $987 actor and profits by 242 percent to $28.1 million, the aggregation faced problems this year that afflicted the home-building and building-supply industries, Sherlock said.
Image Source:
Lower barge prices affected the aggregation to bead its prices, which awkward accumulation margins, he said. And although the housing-market abatement was not severe, it was enough, accumulated with the barge prices, to cut into earnings.
For the aboriginal nine months of 1995, Wickes acquaint a accident of $201,000, or 3 cents a share, compared to profits of $9.3 million, or $1.53 per share, the year before. Sales for the nine months were up 8 percent to $749 actor from $693 million.
Though Wickes is a above supplier of architecture materials, it does not attempt in the exchange with food such as Home Depot and Kmart Corp.'s Builder's Square, superstores that baby primarily to do-it-yourselfers and baby contractors. About 80 percent of Wickes' sales are to architecture professionals.
Image Source:
"Delivering abstracts to our customer, rather than accepting them appointment a store, is the amount of our business," Chairman J. Steven Wilson said in a statement. "Where we can serve the able chump while accustomed one center's aerial instead of two, we can decidedly advance our acknowledgment on assets."
"I acclaim them for it,' said Benjamin Bishop, an analyst with Allen C. Ewing & Co. in Jacksonville, Fla., "In retail chains, there are consistently acceptable food and some that are boilerplate and not activity to get better. It's bigger to do it in 1995, a accident year, and get it abaft you."
The home-fixup bazaar has been hurt, too. In mid-October, Schaumburg-based Handy Andy Home Improvement Centers Inc. filed for defalcation protection, with affairs to abutting 17 food and annihilate 370 jobs. And analysts say sales at Builder's Square alone clearly this month.
Image Source:
Image Source:
Image Source:
Image Source:
Image Source:
Image Source:
Image Source:
Image Source: