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Masco Cabinet Sales Flat as Freeze Slows Home Market

 

Masco Cabinet Sales Flat as Freeze Slows Home Market

POSTED BY administrator on Apr 26 under kitchen

Masco Cabinet Sales Flat as Freeze Slows Home Market
News from woodworkingnetwork.com:

Merillat kitchen cabinetry. TAYLOR, MI — Masco Corp. (NYSE: MAS) says reduced cabinetry sales to its retail channel resulted in its cabinet segment staying relatively flat in the quarter, with net sales at $ 237 million, up just $ 1 million from a year ago. The company reported Cabinets and Related Products’ sales to dealers and builders increased by a mid-single-digit percentage.

However, the Msco’s cabinets segment showed an operating loss of $ 12 million from the closing write downs on the Jackson, OH, plant, and the standardization of ERP systems at its plants. Overall, operating margins improved slightly to 8%. 

Masco Copr. overall posted net sales of $ 2 billion for the first quarter of 2014, up 5% over 2013. The cabinet and building products giant attributed poor weather conditions and a still recovering housing market for slower than expected sales in North America, which overall grew 3 percent, compared to 12 percent for international.

continues on woodworkingnetwork.com

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