Payless Cashways Expects Growth Despite Glosures

Payless Cashways, Inc. is closing five more stores, including Billings, Mt., while vowing that the chain will "begin to grow again" in 1999.

Stores are also being liquidated in Bellevue, Ne.; South Oklahoma City, Ok., and White Settlement and Easr Garland, Tx. The company operates other locations in all markets except Billings which should be able to continue serving the shuttered units'professional customers.

Payless Cashways has set this year's capital budget at approximately $60 million, including $19 million for expansion (such as retail or manufacturing facility acquisitions, remodels and/or new locations). The chain will spend $14 million to purchase l0 previously leased stores and $7 million on technology improvements.

Recent operating results suggest that the chain may have turned the corner, enjoying its third consecutive quarter in the black. Fourth quarter 1998 profit reached $2.5 million, compared to a net loss of $10.4 million in fourth quarter 1997.

Net sales during fourth quarter 1998 fell 4.2Vo to $483.2 million.

reflecting a slight drop in same-store sales and the closure of six stores during the year. The decrease in samestore sales slowed to l.l%o in the fourth quarter, from a 6.7Vo decrease in the third quarter and a l3.2%o in the second.

During the latest quarter, samestore sales to professsionals rose 9%.

Based in Kansas City, Mo., the company operates 159 Payless Cashways, Furrow, Lumberjack, Hugh M.

Woods, Knox Lumber and Contractor Supply stores in 19 states.

Forbes Honors Universal

Universal Forest Products was named to Forbes magazine's Platinum List of the 400 best performing companies in the U.S.

Forbes editors divided public companies with over $750 million in sales into 25 industry groups, then evaluated them based on growth and profitability.

Remodeling Keeps Rising

The remodeling industry should reach $135 billion in 1999, up $5 billion from 1998 and $10 billion from 1997, predicts the National Association of the Remodeling Industry.

The association expects remodeling to hold strong well into the next millennium. "An increase in the number of people owning their own homes, a shift in population, an aging housing stock and a healthy economy all add up to a strong future for the remodeling industry," says NARI president Andrew Gateriewictz.

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Walter M. Wirfs, president, Western Wood Products Association, has been appointed v.p. for manufacturing at [.ouisiana-Pacific, Portland, Or., effective March 4, following WWPA's annual meeting.

Jmh Dean is coordinating lumber sales at Willamette Industries' Bauman sawmill, Lebanon, Or. Mike Mai is new to sales at the Albany, Or., Duraflake particleboard facility and Larry Miller has transferred from the Western Engineered Wood Products group to Custom Products sales, working with Perry Nydigger on moulding and Will-Trim sales in Millersburg, Or.

Lee Currie was promoted to divisional executive v.p. of operations for Universal Forest Products, in charge of Windsor, Co., Mexico and Harrisonville, Mo., facilities. Mike Mordell is now executive v.p. of purchasing for the West.

Merv A. Best is the new sales mgr. for Exterior Woods, Inc., Washougal, Wa. Steve Collett ex-Contact Lumber, is now with Greenwood Forest Products.

Jim Burns, v.p. of the plywood division, has retired from North Pacific Lumber Co., Portland, Or., after 33 years.

John Myrin has left Cascade Empire, Lake Oswego, Or., after 20 years to form M&E Forest Products, Portland, Or., specializing in short, Iow grade cedar boards for pallet manufacturers and A & Better finish grade cedar to furniture makers.

Michael O'Neil, ex-Hirt & Wood Inc., is new to sales at Timber Products Co., Springfield, Or.

Dave Yeazell, ex-Coburg Forest Products, is new to sales at Big Green Forest Products, Eugene, Or.

Douglas Formo, ex-Universal Forest Products, has been named v.p. and gen. mgr. of the Spokane, Wa., remanufacturing division of Snow Peak Forest Products, Coeur d'Alene, Id.

Ulysses Garcia is mgr. of the new Home Depot in Albany, Or. Other new mgrs.: Lee Stocker, Silverdale, Wa.. and Robert Alejandre, San Marcos, Ca.

Scott Hill is the new general mgr. at Plateau Forest Products, Bend, Or.

Ed llahn, ex-Scotty's, is the new merchandising v.p. for HomeBase, Irvine, Ca. Lorrie Duthie is now mgr. of real estate; Barbara Moore, asst. v.p. of advertising; Kirk Yon Berge, director of loss prevention; Peter Reed, So. Ca. district mgr.; Anthony Favela, associate buyer for garden products, and Jake Pronio, associate buyer for millwork.

Frank Ryther and Nancy Lute, both exGeorgia-Pacific, have joined Brown & Associates, Inc., Boise, Id.

Loren Pollard, quality services div. asst., APA-The Engineered Wood Association, and quality auditor Larry Nelson have retired after a combined 65 years.

Gene Bosley was promoted to director of professional business for Payless Cashways. James Jaspring is director of store operations, and Scott Johnson, a new district mgr., overseeing I I stores in Arizona and Nevada.

James Olmedo, Jr., ex-Weyerhaeuser Co., Hot Springs, Ar., is the new president ofTer-px. Inc.

Joel Hartzheim is the new So. Ca. territory sales mgr. for PermaGrain Products.

Steve Parkinson is now Pacific Region treated sales mgr. at Taiga Forest Products. Trent Balog is Prairie Region treated sales mgr.

Greg Moss, Moss Lumber Co., Redding, Ca., was a recent business visitor to Dallas. Tx.

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Luke Bddwin has resigred asi mgr.-commercial sales of Eagle Hardware & Garden, Seattle, Wa., to join Superbuild.com as v.p.-sales & mktg.

Glenn A. Zane was appointed senior v.p. and acting director of opcrations for U.S. Timberlands' Klamath Falls, Or., office, rcplacing Robert Michie. Zane remains a director of Mason, Bruce & Girard. Greg Byrnc, ex-P&M Cedar, is v.p. and c.f.o., succeeding Allen Symington. Mertin Lugas is now v.p.-timberlands operations, and Jeff Groome, corporate controller, Western operations. John Rudey, chairman and ceo, also becomes president. Wdter Barnes, harvesting mgr.; Robert Brmdhead, mktg. mgr.; Kurt Muller, planning mgr., and Christopher Sokol, forcstry mgr., were promoted to asst. v.p. of their divisions. Williem Wyman and Alan Abramson were elected directors ofthe general partner, succeeding Thomas Theobald and Spencer Stuail

John Snead, national accounts mgr., California Cascade Industries, Sacramento, Ca., hit a hole in one Dec, 26 at Sacramento's Northridge Country Club.

Shawn Regnier, 3-C Trucking, Long Beach, Ca., has graduated with a degree in psychology from Humboldt State. She will work until fall, when she retums to study for her Ph. D. Jim Cameron is in Daytona, Fl., competing in the American Historical Racing

Motorcycle Association trials and will receive his First Place trophy from last year. Driver Miguel Ramirez is in his third year of coaching the JV soccer team at Oceanview High School.

Stacey Douglas Jones, editor, Tlw log & Tally, has joined Califomia Women in Timber. She is also a board member of the California Forest Products Com- mission's "Talk About Trees" educational program.

Rick Wilson, Mendocino Forest Products, Santa Rosa, Ca., is back from a statewide sales trip.

Sam'n Ella Catering Co. was named official food provider for Mungus-Fungus Forest Products, Climax, Nv., report Hugh Mungus and Freddy tr'ungus.