While Masco second quarter sales increased 4 percent to $2 billion, cabinetry sales fell 3 percent. Masco is the maker of cabinet brands KraftMaid, Merillat, and Quality Cabinets.
Sharing design trends is fun on both the “giving” end and the “receiving” end. Who doesn’t want to know what’s up ahead and get ideas on ways to use those insights?
I say sign me up!
Which is what I did say to the team at Dwell on Design in LA when they asked me to present “Boutique Inspired Closet Design”.
Masco says its Cabinetry Products’ net sales decreased 5 percent, but explained the drop was due to exiting lower margin business in the builder channel, and ending sales of kitchen countertops. CEO Keith Allman said efforts at improving wood and finishing yield in cabinets are aimed improving profits.
Problems in sales of kitchen cabinetry and vanities followed Masco Corporation (NYSE: MAS) into the third quarter, with sales in the category down 5 percent. The rest of Masco's home improvement categories brought operating profit growth and flat net sales in the third quarter of 2015.
One of the common trends we've continually found is how the hypnotic draw of technology and increased screen time have driven the need for authentic stimulation. These unique colors, textures and patterns, allowus a way to truly disengage and unwind. - Erika Woelfel, VP Color Marketing, Behr Paints, division of Masco
Keith J. Allman, president and CEO of kitchen cabinetry manufacturer Masco Corporation, has been named to the board of Oshkosh, a Wisconsin manufacturer of specialty vehicle bodies for ambulances, fire departments and other specialty vehicle users.
Stocks of U.S. furniture makers rebounded on Monday, Aug 31 after a dip in late August brought on by the Chinese stock crises, which has roiled global financial markets over the past month. Although continued concerns about the Chinese manufacturing sector sent the market plummeting again on Tuesday.
This week we're watching the help wanted at Masco, specifically, 17 openings posted at bizjousnals.com for Home Depot and Lowe's field sales representatives, but also internet specialists and Spokes safety manager in Fort Myers, FL, among other job listings. Also on our watch, U.S. factories, which are expanding manufacturing capacity and re-opening mothballed plants in multiple industries, including wood. And what about Millennial woodworkers?
Cabinet and building products giant Masco Corp. announced plans to relocate its corporate headquarters by the end of 2016 to a 75,000-square-foot state-of-the-art facility in Livonia, Michigan. The news comes just days after the company released its second quarter findings of 3% overall net sales growth — 7% in North America — to $1.9 billion. Sales were spurred by a 6% jump in Cabinets and Related Products, driven by KraftMaid Cabinetry’s sales growth with home centers and dealers.