DO IT BEST DRIVES SALES WITH RECORD NEW MEMBER GROWTH

At the halfway point in its fiscal year, Do it Best announced that company net profit is up 10%, reaching $85.3 million with $2.5 billion in sales through the end of 2022.

“We’ve made substantial progress in our investments to strengthen the engine that drives efficiency and increases sales,” said president and CEO Dan Starr. “After two straight years of phenomenal sales and member growth, we’ve continued our momentum, adding 305 new members and beating our aggressive growth plan by over 4%. These great bottom line results are due to a variety of initiatives the Do it Best team has been leading to ensure we’re always our members’ first and best choice.”

Starr noted that new member signings are already up 13% and Do it Best is continuing to support current member growth through its Gear Up 4 Growth initiatives, such as rebate advances, preference share redemption, and considerable incentives for major store improvement projects.

To sustain that level of store growth, the company is continuing to make major investments in the infrastructure necessary to support store owners’ needs. “We’re on track to have our next-gen warehouse management system operating in all our facilities by this fall, along with our new distributed order management system, and our streamlining of core financials,” Starr shared. “These generational investments are critical to support member growth today, as well as the new business we’re experiencing now and projecting for the future. Our team’s focus is to install these systems without interrupting our business and our service to members.”

Do it Best also announced it is expanding capacity in its warehouse network, starting with its Woodburn, Or., distribution center. “We’ve already broken ground on what will ultimately increase space there by 50%,” said Starr. “We’re committed to building and maintaining facilities, equipment, and systems to support our members’ growth. The Woodburn expansion is an example of just one of the over $100 million in investments that are either in progress or planned to ensure we’re meeting owners’ needs now and into the future.”

Last spring, Do it Best announced a major ecommerce initiative designed to put its members in an even stronger position in-store and online with fully integrated pointof-sale and customer convenience at the forefront. “We’re embracing the shifts in consumer behavior by enhancing and expanding members’ ability to fulfill their customers’ needs in-store and online,” Starr noted.

“And at this spring market in Orlando from March 11-13, we’ll be introducing the enhancements we’re making to drive more traffic from online into Do it Best stores in record time.”

Starr also stressed the importance of product acquisition and assortments as drivers for growth.

“Our number one priority is ensuring our store owners have products to sell. Our team has worked closely with our vendor partners to improve our service level across all departments, including key categories in plumbing, tools, building materials, outdoor living, and lawn and garden,” he said. “Our merchandising and sales teams have been bringing our members even more strategic product opportunities with Member Profit Generators from top vendors to help drive even more sales in all Do it Best markets. Our members have responded, driving Category Solutions sales up 35% so far this year. That’s ensuring their assortments are current and relevant for customers.”

The company has also been developing relationships with new vendors and exploring new product lines. As an example, Do it Best recently announced an exclusive partnership with BFG, a respected lawn and garden leader. BFG offers Do it Best members exclusive access to a full catalog of lawn and garden products, from soils and pest management to greenhouse systems, and offers brands that customers will know, like FoxFarm, JR Peters, and Michael Carr Designs.

Starr also acknowledged the challenge members have faced with recruiting and retaining great employees and how the company has continued to strengthen their exclusive training programs.

“Thousands of our members have signed up for Learning Zone, offering courses developed by Do it Best, the NHPA, and Sherwin-Williams Academy. Along with our Leadership Development Institute, we’re also committed to building our LBM members’ knowledge to power up their sales in 2023 with the industry’s only LBM Academy,” Starr said.

“With the steady easing of the challenges to source store fixtures and components, our team has been able to surge forward to meet the pent up demand for new store design. Our industry award-winning Signature design program, partnered with robust Retail Performance incentives, has helped more and more members attract new customers, expand their market share, and drive double digit growth. And our Best Rewards customer loyalty program gets even stronger this year. We’ll have more to share at our spring market,” said Starr.

Responding to member feedback, Do it Best moved its 2023 spring market to Orlando. “Our team has powered up this market to ensure members’ time there is well spent,” he stated. “From outstanding deals, to the Solutions in Action plumbing, electrical, and seasonal exhibit, as well as seminars, and great networking events, our members won’t want to miss this market.

“I like where we are at the midpoint,” Starr said. “As you see and hear everyday, there are a number of factors in flux that could impact results, and we’re keeping

our eyes on them.”

Factors he noted include the overall state of increased inventory levels across manufacturing, wholesale, and retail and the potential impact of discounting as all parties work to pare inventories down. He also listed the economy, impacted by consumer confidence and inflation and the expectation that the Federal Reserve will likely implement another rate hike to try to calm inflation.

Finally, he questioned whether consumers are ready to pull back on the spending that has fueled sales growth over the past few years. “While this may happen, we’re working with our members to ensure they’re well-positioned to capture every last penny of what consumers are willing to spend,” he said.

“I’m bullish about what the second half holds for our members and Do it Best. Our team continues to sharpen our focus and deliver with excellence to help Do it Best members drive growth in their businesses now and in the coming year,” Starr said.

“Focused

EX-HARDWARE STORE MANAGER SUSPECTED OF EMBEZZLEMENT

The former assistant manager at Hardware Sales, Bellingham, Wa., has been arrested on suspicion of embezzling $1.4 million over the last five years.

The woman is alleged to have used a variety of means, including forging checks and credit card transactions, pilfering petty cash, and stealing mortgage direct payments, from 2017 until the manager contacted authorities in August. Over 190 transactions were identified, although reportedly there is evidence she may have been stealing as far back as 2014.

Amy Siniscarco, 44, turned herself in to police on Jan. 2 and was booked on seven counts of first-degree theft, five counts of identity theft, and 13 counts of forgery.

SIMPSON STRONG-TIE INVESTS IN BUILDING PLATFORM

Simpson Strong-Tie is investing $1.3 million in Higharc, an all-in-one homebuilding platform for design, sales and construction.

The funding will help Higharc continue to lead the way for giving purchasing teams more automated and integrated solutions for manag- ing option complexity and accurately generating POs. The investment supports Simpson Strong-Tie corporate venture investment efforts that it has developed over the last two years. The company is committed to allocating resources to open innovation and to finding new technologies that will help grow its business and will benefit the building industry overall.

“Investing in Higharc presents a unique opportunity to support more efficient homebuilding on a larger scale,” said Simpson Strong-Tie executive vice president, innovation Jeremy Gilstrap. “Higharc’s team, with their foundation in technology, architecture, design, visualization and marketing, understands our products along with how to service and scale with the use of automation, making their solutions particularly exciting.”

To date, Higharc has raised a total of $26.8 million in capital.

E-COMMERCE SITE BUILDDIRECT LAUNCHES BRANDED FLOORING

BuildDirect.com Technologies, Vancouver, B.C., is parterning with award-winning interior design studio Maverick Design, Redondo Beach, Ca., to launch a white-label mar- keting program for a collection of Maverick-branded engineered wood flooring.

Under the deal, BuildDirect will merchandise the Maverick Design Wood Flooring Collection on its e-commerce platform to support Maverick’s brand, product awareness and sales. Maverick is a division of real estate agency Wedgewood Homes.

WHITES, GRAYS, TEXTURES TOP BRICK TRENDS

Soft whites and grays continue to dominate color preferences in firedclay bricks, according to a survey of Brick Industry Association. Traditional reds also reemerge along with red/black combinations and defined hard edges.

Rising texture trends include brick screen walls, brick insets and exclusions, brick-within-brick elements, blending diverse patterns and textures and modern design with refurbished, rustic exteriors.

Residential trends include: whites, grays, defined hard edges and mortar joints, no tumbled or soft edges, traditional red brick, reds with blacks for a Colonial appearance, and thin brick floors.

Commercial trends include: whites, smooth grays, wire-cuts, black brick, screen wall brick in architectural applications, smooth face tumbled, and multiple blended textures.

Popular textures within brick walls include: insetting/corbeling brick within a wall or excluding brick for a much more layered appearance; new buildings designed to look like a rustic, refurbished warehouse; and using authentic tumbled brick for an Old World, historic surface.

To create extra texture, builders are integrating visual texture by rotating the brick a degree, laying courses and blending in various patterns using lighter colors to convey depth and detail.

Made from abundant natural resources, fired-clay brick is free of volatile compounds that will not burn, melt or combust. It has tested to provide a minimum one-hour fire resistance rating by itself—regardless of backing material—as recognized by ASTM E119 and the International Building Code (IBC).

The Jig Is Up

Diablo Tools has introduced an innovative, complete range of jig saw blades to fit both barrel grip and top handle corded and cordless jig saws. The blades reportedly cut through wood, metals, plastics and specialty applications while providing up to 50 times longer life than standard blades.

The bi-direction-tooth-designed bi-metal blade provides ultra-fine top and bottom finishes. With resolving plunge cut issues in mind, the blade features a fast, plunge tip design and T-shank geometry, making it easy to secure and remove from the saw.

DIABLOTOOLS.COM

(800) 334-4107

Upgraded Deck Shades

Trex Transcend Lineage luxury line of composite decking has added two new hues: Carmel, a creamy taupe that embodies the glow of white sands and Cyprus-covered cliffs, and Jasper, a deep mocha reminiscent of old-growth forests and rocky mountainsides.

The colors, which join Biscayne and Rainier, boast premium aesthetics, heat-mitigating technology, and superior performance backed by a 50-year warranty. All are 1”x6” in square and grooved profiles in 12’ (square only), 16’ and 20’ lengths.

TREX.COM

(800) 289-8739

Fastenating Twosome

FastenMaster has launched two new additions to its fastener line: the VersaLOK Structural Wood Screw and the MVP Multipurpose Wood Screw.

VersaLOK provides the strength of a 1/2” lag bolt with the installation ease and speed of a LOK. The flat-head, heavy-duty wood screw comes in 6”, 8” and 10” lengths, does not require predrilling, offers higher design shear strength than 1/2” lag bolts, and has a TORX ttap drive system for stable installation and a ProjectLife coating guaranteed for the life of the project. It’s ideal for angle bracing, retaining walls, and carrying beam connections.

The MVP Multipurpose Wood Screw is designed for framing, cabinetry, and other wood-to-wood applications. The 10-gauge fasteners feature a TORX ttap drive, SureSink head to prevent spin outs, ProjectLife coating for superior corrosion resistance, and SureStart Point for easy installation, in lengths from 1” to 4”.

FASTENMASTER.COM

(800) 518-3569

Premier Cabinetry

Wolf Home Products has launched Wolf Artisan, a curated collection of semi-custom cabinetry. The cabinets can be modified within 1/16” for a precise fit and finish, making it a near-custom solution for homeowners. Available in 23 finish and stain options, 18 door styles, and five wood species, the line offers solutions for varying design preferences with countless decorative and storage options.

Features include solid-wood dovetail drawers, soft-close drawers and doors, I-beam construction, and deep drawer boxes with full-extension.

WOLFHOMEPRODUCTS.COM

(800) 388-9653