HBSD February 2024 by ensembleiq

FEBRUARY 2024 Volume 50 No. 2

THE

DECKING ISSUE

Highlights from a 2024 bright spot for building supply dealers.

IT’S TIME FOR YOUR ANNUAL RENEWAL Scan the QR code to confirm your subscription

02.24 TOP SHOWROOMS

14 Northeast Architectural strives to be a first-choice solutions provider. MARKET INSIGHTS

26 QXO: In search of a billionaire-backed LBM player. 28 Celebrating the ‘Spirit of Life’ in Las Vegas.

STORY 18 COVER The Decking Issue

Here’s an insider’s guide to new trends, new products and new opportunities in what remains a bright category for home centers and prodealers. 25 The Deck Supply, an Independent Profile

FROM THE EDITOR

Thoughts on the Mount Rushmore of home improvement innovation.

ON THE COVER MoistureShield’s Vision capped composite decking in Mochaccino, Cathedral Stone, and Spanish Leather laid out in a unique color pattern to create a beautiful deck. Photo courtesy of MoistureShield

30 Megan Menzer, owner of Newton’s True Value Hardware and chair of the True Value Co-Op Board, shares that special feeling of being part of one big hardware family. PEOPLE IN THE NEWS

32 A Wisconsin hardware store checks more boxes than ever.

NEWS & ANALYSIS

IN EVERY ISSUE

10 End of the road for Kelly-Moore Paints.

10 HBSDealer poll results: Sales optimism continues.

34 Quikrete Industry Dashboard

What’s Online

12 Product Knowledge

12 MITER Brands scoops in to grab PGT Innovations. 12 NAICS 444 numbers, a $500 billion story.

Hardware + Building Supply Dealer (ISSN 2376-5852) is published monthly, except for July/August and November/December, which are double issues, by EnsembleIQ, 8550 W. Bryn Mawr Ave., Suite 225, Chicago, IL 60631. Subscription rate in the United States: $132 one year; $240 two year; $17 single issue copy; Canada and Mexico: $180 one year; $342 two year; $20.40 single issue copy; Foreign: $180 one year; $342 two year; $20.40 single issue copy; in all other countries (air mail only). Digital Subscription: $75 one year; $140 two year. Periodical postage paid at Chicago, IL., and additional mailing offices. POSTMASTER: Please send address changes to HBSD, Circulation Fulfillment Director, 8550 W. Bryn Mawr Ave., Suite 225, Chicago, IL 60631. Copyright © 2024 by EnsembleIQ. All rights reserved.

4 Februar y 2024 HARDWARE + BUILDING SUPPLY DEALER

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Here's What's Online See more and share more when you follow us on Linkedin.

Join, watch, learn Join HBSDealer and BuildersFirst Source during a live webinar Feb. 16 at 1 p.m. EST. The title of the panel presentation: “Hitting Career Targets: Establishing the Next Generation of Leaders Through Military and Veteran Recruiting.” Find out more at HBSDealer.com/webinars.

The Video Showcase The HBSDealer film library includes McCray Lumber & Millwork's Golden Hammerworthy connection to the ‘Be Head Strong’ Foundation. Check out the video library at HBSDealer.com/ video.

More Top Showrooms HBSDealer’s new Top Showrooms feature celebrates the business of design. Visit HBSDealer.com/ top-showrooms for highlights from Northeast Architectural, Lumber Plus, Zeskind’s Door & Window, and many more. And if you have a highquality showroom, share it with us at acarlo@hbsdealer.com.

When you connect with us, you connect with the industry @HBSDealer

6 Februar y 2024 HARDWARE + BUILDING SUPPLY DEALER

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From the Editor 550 W. Bryn Mawr Ave., Ste. 225, Chicago, IL 60631 (773) 992-4450 Fax (773) 992-4455 www.HBSDealer.com BRAND MANAGEMENT

Talk Radio

SENIOR VICE PRESIDENT John Kenlon (516) 650-2064 jkenlon@ensembleiq.com EDITORIAL

CLIMBING MOUNT RUSHMORE, LIVE AND ON THE AIR.

EDITOR-IN-CHIEF Ken Clark kclark@ensembleiq.com

Ken Clark Editor-in-Chief

ary Sullivan, the host of the At Home with Gary Sullivan radio show invited me on air. I had big plans to share my long held views on innovations that deserve to be carved into the symbolic Mount Rushmore of home improvement.

HARDWARE EDITOR Tim Burke tburke@ensembleiq.com

“You would have done better if you knew his questions and talking points ahead of time.” Like I said, radio isn’t easy. But let’s not allow my on-air struggles to obscure the important discussion of the Mount Rushmore of home improvement products.

ADVERTISING SALES & BUSINESS

Here’s my list:

DESIGN/PRODUCTION/MARKETING

The P trap. A genius plumbing invention and monumental step forward for indoor air quality. And just to be clear, it’s named after its shape.

One thing I learned: Radio talk shows aren’t as easy as they might seem to the listener. Some folks are really good at it. Our friends Tom Kraeutler, Leslie Segrete and Gary are pros, responding to complicated questions with cheerful and informative answers. And here’s the key — they do it live and on the spot. (Some hardware store operators are good at it, too. In Indianapolis, Pat Sullivan (no relation to Gary) is a natural. He’s the owner of Sullivan’s Home & Garden. He became a fixture on live TV, too, dispensing sophisticated lawn and garden advice. Pat’s just one example.) So, Gary Sullivan invited me to leave the comfort of the printed page and digital screen and share inside-home-improvement-industry knowledge to his national DIY audience. I prepared him with questions and talking points ahead of time. How’d it go? Here’s the actual response from Mrs. From the Editor after we listened to a replay of my 10-minute segment:

LBM EDITOR Andy Carlo acarlo@ensembleiq.com

• Latex paint. I once heard a Home Depot director describe to a group of industry researchers that the development of latex paint changed home design forever. • Drywall. Invented (as Sackett Board) by Augustine Sackett in 1894. • And rounding out Mount Rushmore, as I’m sitting here a stone’s throw from the Edison monument in Edison, N.J.: The incandescent light bulb. Might be hard to find these days due to energy efficiency rules, but its place in home improvement history is secure. Honorable mentions: The Phillips-head screw; the propane-powered grill, the caulk gun; the garage-door opener. It’s a perfect topic for call-in radio show. Or a letter to the editor. Write to us at news@hbsdealer.com.

8 Februar y 2024 HARDWARE + BUILDING SUPPLY DEALER

ASSOCIATE PUBLISHER Amy Platter Grant MIDWEST & SOUTHERN STATES (773) 294-8598 agrant@ensembleiq.com REGIONAL MANAGER Greg Cole NORTHEAST & GREAT LAKES STATES (317) 775-2206 gcole@ensembleiq.com

ART DIRECTOR Bill Antkowiak bantkowiak@ensembleiq.com PRODUCTION MANAGER Patricia Wisser pwisser@ensembleiq.com MARKETING MANAGER Kathryn Abrahamsen kabrahamsen@ensembleiq.com SUBSCRIPTION SERVICES LIST RENTAL mbriganti@anteriad.com SUBSCRIPTION QUESTIONS contact@HBSDealer.com

CORPORATE OFFICERS CHIEF EXECUTIVE OFFICER Jennifer Litterick CHIEF FINANCIAL OFFICER Jane Volland CHIEF OPERATING OFFICER Derek Estey CHIEF PEOPLE OFFICER Ann Jadown CHIEF STRATEGY OFFICER Joe Territo EDITORIAL ADVISORY BOARD

Levi Smith, CEO, Franklin Building Supply Steve Sallah, CEO, LBM Advantage Christi Powell, Women & Minority Business Enterprise Market Manager, 84 Lumber Neal DeLowery, Store Projects and Merchandise Manager, Aubuchon Co. Brad McDaniel, Owner, McDaniel’s Do it Center Joe Kallen, CEO, Busy Beaver Building Centers Tom Cost, Owner, Killingworth True Value Permissions: No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or information storage and retrieval system, without permission in writing from the publisher.

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News + Analysis

End of the road for Kelly-Moore Paints Running out of money and unable to find investors to carry on its colorful tradition, Kelly-Moore Paints closed its stores — all 157 of them in California, Nevada, Oklahoma and Texas — furloughed some 700 employees and shutdown its manufacturing facility. “I’m extremely disappointed and saddened by this outcome, as the entire Kelly-Moore team made incredible efforts to continue innovating and serving the unique needs of professional painting contractors,” said CEO Charles Gassenheimer. “The ownership group’s commitment from day one was to fix the business if we could.” Legal and financial burdens brought down the nearly 80-year-old company. Chief among those burdens was asbestos litigation, which links all the way back to Kelly-Moore Paints purchase of Paco Textures in the 1960s and the subsequent sale of Paco joint compound. Despite paying out approximately $600 million over the past 20 years to settle asbestos claims, a recent study commis-

The costs of asbestos-related litigation pushed the nearly 80-year-old paint company over the edge.

sioned by the company estimates future asbestos liabilities exceed $170 million. The company described an intention to conduct “an orderly, out-of-court winddown process,” as neither bankruptcy reorganization nor an in-court liquidation were

Optimism continues … BUT NOT AS STRONG AS T WO YE ARS AGO. More than 60 percent of respondents to HBSDealer’s recent poll question are expecting sales gains in 2024, with 11 percent of respondents anticipating double-digit growth. More than 235 readers participated in the poll. While the recent stats are more optimistic than pessimistic, they are less optimistic than a similar survey executed in early 2022. Here is how the two surveys, taken two years apart compare:

In Massachusetts, Rocky’s Ace Hardware made a deal for Smith Hardware and Hometown Ace. In Louisiana, Stine Lumber acquired a single unit from Cassity Jones Lumber. And in Texas, Kodiak Building Partners acquired Waco’s Gross-Yowell of Waco. Learn more at hbsdealer.com/map

2024

28%

26%

Openings, closings and acquisitions

2022

33%

35%

deemed viable. The company leased all its facilities, as opposed to owning them, and could not offer hard assets to creditors. Pleuger Chemicals acquired Kelly-Moore in October of 2022. Gassenheimer, described as a seasoned businessman and experienced turnaround professional, was appointed CEO to develop strategies to fix the company’s dire financial position. The cash drain caused by legal settlements and the cost of defending ever-continuing case filings, constrained the paint company’s ability to address supply chain challenges, the company said. Kelley-Moore tried to relocate the headquarters from California to Texas, explored new supply-chain partnerships domestically and abroad, planned strategic technology and store upgrades, and resolved a “sizeable portion” of the pending asbestos claims. In the end, Gassenheimer said Pleuger Chemicals “simply couldn’t overcome the unexpectedly large challenges, and will be exiting the business.”

27%

25 20 15 10

18%

19%

17% 11%

11%

5 0

Up >10%

Up 5 to 10%

Up 0 to 5%

Flat

Down

Source: HBSDealer Poll

10 Februar y 2024 HARDWARE + BUILDING SUPPLY DEALER

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News + Analysis

MITER makes a deal A DR AMATIC, L ATE OFFER L ANDS PGT INNOVATIONS PGT Innovations closed the door on a previously accepted acquisition offer from Masonite and opened the door for a more lucrative offer from MITER Brands. Masonite’s deal with PGT, a manufacturer of patio door and window solutions along with impact-rated glass application, was announced Dec. 18, and carried a total transaction value of $3 billion. But Masonite’s rival window manufacturer MITER Brands later swept in with its own deal valued at $3.1 billion. MITER’s plan calls for it to acquire all of the outstanding shares of PGTI at a price of $42.00 per share in cash. The purchase price represents a premium of 60% over PGTI’s unaffected closing share price on October 9, 2023, Miter Brands said. “MITER and PGTI are fully aligned in providing world-class service and the finest products with a culture where people, performance, and customer experiences come first,” said Matt DeSoto, president and CEO of MITER Brands. “Our product mix and geographic presence are highly complementary, and we look forward to delivering enhanced value to our team members, customers, suppliers and local communities.” Masonite received a termination fee of $84 million following the broken deal. “The decision to waive our right to increase our offer refl ects our commitment to fi nancial discipline and rigor in our strategic investments,” said Howard Heckes, president and CEO of Masonite. “We remain focused on the execution of our ‘Doors That Do More’ growth initiatives and the pursuit of our 2027 fi nancial goals. I am confi dent in Masonite’s ability to create longterm value for our customers and our shareholders as we continue to deliver

Product Knowledge Product: Craftsman low-profile ratchets Manufacturer: Stanley Black and Decker

PGT Innovations brands include CGI Impact Resistant Windows & Doors.

reliable supply, drive product leadership and win the sale.” MITER Brands is the combination of two fast-growing regional product brands: MI Windows and Doors and Milgard Windows and Doors, and is a nationwide supplier of precision-built and energy-effi cient products with more than 10 manufacturing facilities throughout the United States. “We are thrilled to have reached an agreement with MITER that maximizes value for PGTI shareholders,” Jeffrey T. Jackson, PGT Innovations president and CEO said.

NAICS 444 Sales: the big picture The full year numbers are in, and the big picture for hardware and building supply dealers is an industry-wide decline in 2023 from a very strong 2022. The latest Monthly Sales report for December from the U.S. Census Bureau puts at just under $500 billion the unadjusted 12-month sales figure for NAICS 444 retailers (building material and garden equipment and supplies dealers). That’s down 3.0 percent from 2022. Annual sales for the 444 category were up against very strong numbers,

12 Februar y 2024 HARDWARE + BUILDING SUPPLY DEALER

Knowledge These low-profile offerings include 1/4-inch, 3/8inch and 1/2-inch drive 72-tooth ratchets with five degree arc swings. The new design has up to a 25% thinner head to allow greater access to confined spaces. The ratchets are available in Craftsman Versastack mechanics tool sets, mixed mechanics tool sets, and as standalone items. Fun fact: Craftsman was founded in 1927 as a Sears house brand. Today the brand can be found in the aisles of Ace Hardware, Lowe’s and the dwindling number of Sears stores.

fueled by commodity price inflation. Here’s how the years stack up: 2023: $499,141,000,000

3.0%

2022: $509,533,000,000

6.6%

2021: $483,074,000,000

13.5%

2020: $438,187,000,000

14.0.%

HBSDealer.com

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Northeast Architectural's standout showroom in Mamaroneck, New York serves builders, architects, designers, and homeowners.

A vision of quality in the Northeast NORTHE AST ARCHITECTUR AL STRIVES TO BE A FIRST-CHOICE SOLUTIONS PROVIDER. By Andy Carlo

he mission at Northeast LLC is to inspire and empower homeowners, building professionals, and designers to create exceptional spaces that enrich their communities. The Connecticut-based prodealer and building solutions provider says it strives to be a trusted partner throughout the entire design and building journey, providing expertise, specialty products, and unmatched customer service. “Our vision is to be the first choice in the Northeast for premium, customized building solutions and home products that enhance the value, beauty, functionality, and sustainability of our communities,” says Rachel Foster, director of marketing at Northeast. The company is composed of three business units: Northeast Building and Home, Northeast Architectural, and Crane by Northeast. The company’s Northeast Building and Home business maintains three locations in Bridgeport, Cornwall Bridge, and New Canaan, Connecticut. Each Building and Home location has a showroom presence

14 Februar y 2024 HARDWARE + BUILDING SUPPLY DEALER

of its own with the business also maintaining a cabinetry division. Northeast Architectural has a standout showroom location in Mamaroneck, New York (featured in the images show here) with a second showroom slated to open in Montclair, New Jersey. “Even though each location does not necessarily handle all the same materials, we can streamline the journey for our consumer with experts in all fields to complete the projects in full,” Foster told HBSDealer. Northeast serves the entire building community: builders, architects, designers, and homeowners with projects including spec homes, custom builders, renovation and remodeling, and commercial. Products at Northeast’s locations vary and are updated as brands introduce new materials to their portfolios. “Each location is unique. No location is the same based on demographics and the market,” Foster says. “But that’s intentional so you can showcase and have people touch and feel as much as possible.” When it comes to the bottom line, Northeast provides the map and materials for customers to complete their building projects. “We want to create exceptional meeting spaces for the community to use as a tool in their projects,” Foster says.

If you have a Top Showroom you would like to share, please contact LBM Editor Andy Carlo at acarlo@ensembleiq.com.

HBSDealer.com

For all of the needs on the job site from wood, metal, cement board, concrete, brick, and block hillmangroup.com 1-800-800-4900 hillmangroup.com 1-800-800-4900

Scan here to learn more about our full product lineup

Offered In

Value Pack

1 LB Tub

1 LB Box

3 LB Box

5 LB Tub

5 LB Box

10 LB Tub

25 LB Tub

1/4 Keg

Tan Green Gray Red 304 S.S. 316 S.S. Tan/Comp. Red/Comp. Gray/Comp. Brown/Comp. S.S./Comp.

Wood

Composite

DREAM DECK NEEDS AND DESIGNS IN 2024 Spaces that offer multifunctionality and durability are among the wants of deck buyers. By Andy Carlo

18 Februar y 2024 HARDWARE + BUILDING SUPPLY DEALER

omeowners are seamlessly blending indoor and outdoor living spaces to create a more natural flow, while considering the texture, color, and durability of the materials they select, according to Amanda Cimaglia, vice president, ESG and corporate affairs at TimberTech by AZEK. Cimaglia also notes that adding an outdoor living space can be a cost-effective option for adding square footage to a home while creating a multifunctional space for entertaining, exercising, playing with children, or reading a book. “Our experts are seeing homeowners prioritize a balance of HBSDealer.com

als that match their needs. Trex Vice President of North American Professional Sales Bret Martz says the wood-alternative decking manufacturer has seen an increased demand for lighter, nature-inspired decking hues. The trend resulted in the company launching its Trex Transcend Lineage line, featuring an elevated look with elegant graining in four on-trend hues. Having a deck that stands up to frequent use is another element buyers are in high demand. “Durability — it seems like people are busier than ever and are looking for products that will stand up to everyday life,” says Chase Mortiz, director of marketing for Envision Outdoor Living Products. “When thinking about products for their outdoor spaces, homeowners are growing more willing to invest a little more upfront on low-maintenance, durable products they won’t have to spend time re-finishing down the road.” The high interest rates that thwarted home sales growth in 2023 wasn’t necessarily viewed as a deterrent on deck spending at Trex. “Mortgage rates and interest rates contributed to overall category growth health in 2023,” Martz told HBSDealer. “We feel that with high interest rates, homeowners are less likely to move, and, therefore, are more likely to invest in their current home.” A report issued in January by the Farnsworth Group, “Capturing Homeowner Demand in the Decking, Fencing, and Railing Markets,” notes that the three categories have a combined market value of $23 billion are all expected to increase in size in the next 5-10 years.

Supporting the sale

form and function. It's all about creating a flexible-use space full of elements that enhance the enjoyment of the outdoor experience,” says Michelle Hendricks, Deckorators category marketing manager. “Our mission at Deckorators is to push the boundaries of what’s possible in outdoor living spaces, and help homeowners bring their ideas to life.” Aside from functional design, some of the top decking trends identified by Deckorators include cocktail rails, privacy walls and shade structures, heaters and fire features, dock upgrades, and outdoor kitchens. While homeowners are searching for the right environment, they’re also looking for the materiHBSDealer.com

Deckorators Voyage Decking with Surestone Technology in Costa, Picture Frame Board with Surestone Technology in Dark Slate, and Contemporary Cable Railing, built by Premiere Outdoor Living.

When it comes to helping retailers make the sale, Cimaglia says TimberTech allocates significant sales force resources to support more than 10,000 prodealers, lumber locations, and home improvement retailers. “Our strong relationships with dealers and contractors are driven by the trust and reliability that we have generated through product innovation, superior quality and performance, and the continuing support we offer,” Cimaglia says. That support includes maintaining comprehensive marketing campaigns through various media. Trex also has several initiatives in place aimed at bigger decking sales.The manufacturer just introduced in 2024 new programming focused on helping distributors and dealers take more aggressive inventory positions in market as they prepare for prime deck season. “Driving brand awareness directly benefits our committed dealers and contractors by driving leads and activity their way,” Martz explains. HARDWARE + BUILDING SUPPLY DEALER

Februar y 2024

Here are some of the latest innovations in decking, deck building, and outdoor living products: MoistureShield’s Stratos composite enhanced PVC decking is a breakthrough innovation in outdoor flooring. Featuring the best of both wood composites and PVC decking, Stratos’ groundbreaking Next Core is meticulously designed to be stronger and longer-spanning than any PVC decking on the market. Engineered with a 50% greater span, Stratos provides rigidity and a more solid feel underfoot compared to conventional PVC and composite decking when installed 24” on center. With its TruTexture Surface to provide a true wood grain finish and enriched color variegation and CoolDeck Technology that reduces heat up to 35%, Stratos’ proprietary acrylic cap offers an incredibly strong defense against damage from stains, scratches and impact all while resisting fading. Stratos is made in the USA and features a 20-Year Commercial Limited Structural Warranty. moistureshield.com

PWT Treated LVL is the only manufactured Treated LVL on the market, offering superior strength and uniformity. Utilizing TRU-CORE technology, a heat press system evenly distributes treatment chemicals throughout the wood for lasting durability. There’s always been a need for LVL that could be used in outdoor applications. The challenge has always been developing a product that would withstand the elements while maintaining product integrity. PWT Treated LVL has overcome this challenge thanks to its unique treatment process — and is proven to stand up to harsh winters with all their moisture and related issues (causing warping, movement, shrinking) and most other environments. PWT Treated LVL deck joists, ledger boards, blocking, stair stringers, and every other aspect of the substructure. The benefit of applying it this way is labor savings: teams don’t have to hand-crown every piece, but they still get a perfectly flat deck surface. PWT’s manufacturing process creates a durable product that is protected against damage caused by fungal rot, decay, and wood-destroying insects. PWT Treated LVL is suitable for both interior and exterior usage, with a 25-year limited warranty to provide peace of mind. pwtewp.com

SPAX Beam Tape from Altenloh, Brinck & Co. US, Inc. is a new addition to the SPAX Deck Solution Center category of products and accessories. Deck joist & beam tape is designed to maximize the life expectancy of wooden deck structures. Once the waterproof adhesive tape is applied, it acts as a moisture barrier. The Beam Tape features: Strong, durable, and flexible with UV-resistant facer Forms a tight seal around deck fasteners to prevent moisture penetration

The Deckorators Privacy Screen System offers an innovative way to introduce both definition and seclusion to outdoor spaces. This system enables users to mix and match various components, including screens, slats, and decking, to create a unique and personalized style for their outdoor living space. Its user-friendly installation, versatility, and privacy-enhancing features make it a standout product in the industry, catering to the evolving needs and desires of homeowners. Infill options include panels in four styles, double-sided slats in three colors, and all Deckorators decking. deckorators.com

Stable at high temperatures without dips, stains, or oozing Ridged polyethylene surface is slip-resistant Fast and simple installation; easy-to-remove release liner Apply to horizontal and vertical surfaces including all joists, double joists, beams, stair stringers, stair treads, ledger board, and other surfaces Stock available in 2 widths: 1-5/8” (4.13 cm) joist tape and 3-1/4” (8.26 cm) beam tape Zero VOC’s (Volatile Organic Compounds) 10-year limited warranty Deck tape calculator on the SPAX website SPAX deck tape will be packaged in individual 75-foot rolls and in master cut-case cartons of 16 rolls for joist tape and 8 rolls for beam tape packs ready for retail shelves. This new SPAX product is manufactured in Canada and packaged/stocked in Bryan, Ohio. spax.US

20 Februar y 2024 HARDWARE + BUILDING SUPPLY DEALER

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Experiencing rare beauty often means enduring extremes. MoistureShield® is the only high-performance composite decking engineered to deliver 360-degree protection, 365 days a year. So you can live boldly in any conditions.

OutsideTheEveryday.com

Barrette Outdoor Living’s DIY-friendly screen enclosure solution — EncloSure — allows homeowners to enjoy being outdoors while offering protection against insects and the elements. Able to be installed into an existing covered patio, deck or upper balcony, EncloSure easily creates an extra space for entertaining and allows for increased privacy. Colors include White, Matte Black and Charcoal Bronze. Made of durable aluminum framing featuring a premium powder coat and high-quality screening with a flat spline technology that ensures screens stay in place even in the windiest conditions. With an easy four-step purchasing system, homeowners can select from three sizes that best fits their existing covered space and, if needed, adjust post and rail sizes using a miter or circular saw. Additional options like a railing infill kit, screen door and in-swing kit are also available. barretteoutdoorliving.com

TimberTech Composite Terrain+ Collection is new and improved. Through proprietary technology, TimberTech material scientists have developed more sophisticated aesthetics featuring multi-color variegation and more realistic emboss patterns, while still maintaining the superior, scratch-resistant durability of the original Terrain Collection. Featuring protective 4-sided capping, the Terrain+ Collection will continue to stand out as a superior choice in scalloped-back decking for contractors, dealers and consumers. The palette includes three new on-trend colors, including Weathered Oak, Natural White Oak, and Dark Oak – each delivering a sophisticated, versatile and natural wood look. TimberTech’s Composite decking is manufactured with up to 85% recycled content. TimberTech Aluminum Framing is also new to the portfolio. A modern, better-performing alternative to traditional wood framing for decks, TimberTech’s Aluminum Framing offers notable benefits to both deck builders and homeowners. Homeowners get a solid deck substructure that will not split, rot or decay, meaning a long life and 25-year limited product warranty. Builders are provided a full solution with engineered components designed to work together and install easily. Compatible with all TimberTech Decking and Railing systems, TimberTech’s Aluminum Framing is made in part from recycled aluminum and can be reused or recycled at end of life. And, because it’s made of aluminum, it’s a better choice for fire-prone regions than wood framing. timbertech.com

Regal ideas said railing installation just got a lot faster with Regal ideas pre-assembled Urban Rail. Save time and money with this easy-to-install, two-step, system. Made from 100% non-recycled aluminum and finished with a premium textured powder coat finish, this railing is perfect for builders and ideal for home owners. Designed for residential, commercial, and multi-family applications with an elegant top rail and mechanically locked pickets. Pre-assembled panels come in six-foot and eight-foot sections. regalideas.com

22 Februar y 2024 HARDWARE + BUILDING SUPPLY DEALER

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A PROUD HISTORY OF ALWAYS HAVING YOUR BACK. On day one we started with just a truck and a commitment to be the best. When the YellaWood® brand says you can trust us to deliver, those aren’t empty words; they’re actually proven words. And words we take seriously. Which is why we’ve been striving to give our very best every day for over ﬁve decades now. We can say with conﬁdence that the Yella Tag can deliver like no other because it’s been shown to do just that. See all the other ways the YellaWood® brand has your back. Visit yellawood.com/for-dealers

YellaWood® brand pressure treated products are treated with preservatives (the “Preservatives”) and preservative methods, and technologies of unrelated third parties. For details regarding the Preservatives, methods, and technologies used by Great Southern Wood Preserving, Incorporated, see www.yellawood.com/preservative or write us at P.O. Box 610, Abbeville, AL 36310. Ask dealer for warranty details. For warranty or for important handling and other information concerning our products including the appropriate Safety Data Sheet (SDS), please visit us at www.yellawood.com/warranties or write us at P.O. Box 610, Abbeville, AL 36310. YellaWood and the yellow tag are federally registered trademarks of Great Southern Wood Preserving, Incorporated. All other marks are trademarks of their respective owners and are used with their permission.

Trex Signature Decking uses a notably different process than any other Trex decking product. Trex Signature offers the ease of maintenance and high performance of WPC with a proprietary shell formulation that delivers the most realistic representation of wood attained to date. Now available on a national scale in two nature-inspired colors, Signature establishes a new luxury tier in the brand’s decking lineup as its top offering. Trex is also adding fascia to the Signature line making it the first collection in the category to offer a complete system of profiles complemented by Trex Signature aluminum railing. Trex.com

Envision Outdoor Living Products is combining comfort and beauty with three composite decking colors featuring its new Cool Tread Technology. Part of the company’s Distinction Collection of capped composite decking, the three new colors with Cool Tread Technology boast a surface that’s up to 25% cooler with 25% better traction and 61% less moisture absorption than average leading competitors. Developed in response to consumer demand and trends toward warmer greys and browns, the three new coastal-inspired colors comprise Nantucket Shore, with warm grey hues reminiscent of a light mist on the shorefront; Hampton Dunes, a beautiful blend of sandy tones found on a morning beach stroll; and Seaside Pier, a greige color that mimics the shades found in a perfectly weathered boardwalk. Like other decking options in the Distinction Collection, the three new colors feature bold highlights and enticing richness designed to emulate the textures and natural color variations of exotic woods. The decking is crafted with Envision’s proprietary Compress Technology, which pairs its EverGrain Core with a high-density cap to create durable, low-maintenance decking. This manufacturing process results in decking that offers authentic, deep, non-repeating grains; is resistant to staining, splintering, cracking, rot, and insects; and doesn’t require staining, sanding, or sealing. envisionoutdoorliving.com

24 Februar y 2024 HARDWARE + BUILDING SUPPLY DEALER

Norx, the provider of decking and cladding products designed with some of the most advanced composite technology, has introduced two new colors in its New York and Los Angeles cladding collections. The timeless new additions to Norx’s composite solutions, affectionately named Rockefeller and Venice, allow homeowners to elevate their spaces with accessible gray tones and natural textures that are durable, sustainable, and adaptable to evolving design trends. The colors boast a distinguished gray tone that captures the essence of timeless sophistication inspired by the natural textures found in the United States’ two most iconic cities. Both colors showcase Norx’s commitment to quality and aesthetic excellence. Their versatility allows homeowners to effortlessly coordinate with other Norx decking and cladding collections, offering a cohesive and sophisticated design palette. Norx’s popular New York and Los Angeles cladding collections are made with sustainable material built to withstand any weather. norx.us

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Decking Edition Independent Profile The Deck Supply operates five showrooms and two lumberyards in the greater Kansas City, Missouri market.

The Deck Supply builds a solid reputation A RISING MIDWEST DE ALER PL ACES ITS FOCUS ON DECKING AND DECK BUILDERS. By Andy Carlo

he Deck Supply is entering its 20th year as a family-owned and operated specialty lumber yard. Formerly known as Kansas City Deck Supply, founders Tom Smith and Steve Alexander saw an opportunity to service deck builders, and took a risk to serve — what was at the time — a marginal and underserved portion of the contractor and builder segment. In 2004, the company opened its first showroom in Kansas City, Missouri, which put a large gap between The Deck Supply and the other lumber yards when it came to the decking experience. Today, the company operates five showrooms and two lumberyards. According to Jordan Smith, vice president of sales at The Deck Supply, input from customers and homeowners has been an important piece of the dealer’s success. “From the onset, we’ve placed a high value creating an experience with full deck displays and dedicated deck-only salesman, offering decision makers an education and the ability to touch and see what they are getting, before they purchase,” Smith told HBSDeale. “Our mission to provide top-notch service and delivery of in-stock materials and

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supplies for builders throughout the city has been a significant factor for our growth.” Over time, The Deck Supply has grown its partnership with area deck builders and contractors. “We’ve gained their trust in providing material for their projects in the entire Kansas City metro area, warranting the opening of additional showrooms throughout the region, bringing an accessible experience to as many customers as possible,” Smith said. The company’s mix of customers is 70% pro and 30% homeowner/DIYer. “Our primary customer is a contractor/builder,” Smith says. “Kansas City is a great deck market, with lots of dedicated deck contractors, and we have partnerships with many new home builders.” In 2021, the company opened a lumber yard in Wichita, Kansas, along with new showrooms in Wichita and St. Joseph, Missouri in 2022. “It is our goal to serve markets where decks are in high demand, with the best options available,” Smith notes. In 2023, The Deck Supply launched a full-scale e-commerce site, offering shipping on products nationwide (U.S. only). Plans are underway to expand into Des Moines, Iowa this year with a yard and showroom. The Deck Supply can’t be a premier decking destination without carrying a wide variety of brands and products. The company stocks six brands of decking and four brands of railing in its yard. This includes products from Deckorators, MoistureShield, Envision, Trex, TimberTech, and Fiberon. Railing brands include Fortress AI13 and Fe26, Dekpro Prestige, Westbury C10, RailFx - PFX 1000, Trex Signature, and Timbertech Impression Rail Express About 90% of the current decking volume handled by The Deck Supply is composite/PVC. “For the money, we don’t see how wood measures up to an industry minimum 25-year fade and stain warranties on capped composite products, and fastener-free finishes,” Smith explains. “We do still offer traditional decking materials such as Yellawood brand treated lumber, Western Red Cedar and can procure exotic hardwoods if the customer so desires.” Showrooms are updated at least once a year with manufacturers making changes to their displays and models with new product lines. “The Deck Supply aims to provide the best service, experience, and selection for anyone looking to build a deck. We want to help everyone get their ‘Decks Done Right’,” Smith says.

HARDWARE + BUILDING SUPPLY DEALER

Februar y 2024

Market Insights The Rainbow Room at Rockefeller Center was packed as investors, analysts, and employees gathered to meet Brad Jacobs, founder of QXO and author of “How to Make a Few Billion Dollars.”

Searching for QXO in the Rainbow Room A PL AYBOOK, A BILLIONAIRE, AND AN LBM MYSTERY IN MANHAT TAN. By Andy Carlo

t wasn’t your typical lumber and building materials gathering. But the event did take place on what might be considered an average day of winter in the Northeast. As steady snow fell in the suburbs of Manhattan, the city itself was treated to a nasty mixture of snow and freezing rain among other damp elements. But a couple of hundred people fought the elements and made their way to the Rainbow Room at Rockefeller Center to meet billionaire Brad Jacobs. Some arrived in suits, and some decided on snowboots. They all stood in line for a face-to-face meeting with Jacobs — a line that ran out the door of the scenic venue and down the hall to the elevator banks. Jacobs was there to celebrate the release of his new book, “How to Make a Few Billion Dollars.” Colleagues, investors, analysts, hedge fund manBrad Jacobs agers, employees, and at least one LBM editor were there to discuss Jacob’s success and the book. There was a catch, however. While Jacobs was more than willing to happily chat it up with guests, he didn’t shake hands. Rather, Jacobs prefers to greet people with a fist bump. Along LBM lines, the entrepreneur and investor put a charge into the ranks when he announced the formation of QXO last month. According to Jacobs, QXO promises to be an industry powerhouse and consolidator in the building materials distribution sector.

26 Februar y 2024 HARDWARE + BUILDING SUPPLY DEALER

When I had to opportunity to receive a fist bump from Jacobs, his cards were held close to his chest concerning the new building materials company. “We’ll see, but we are not ready to make an announcement yet,” Jacobs told me. Speculation has ranged from building materials to lumber, to electrical, to commercial construction products when it comes to the exact window QXO chooses for making its entrance into the field. For now, the actual emergence of the $1 billion company — with promises from Jacobs that the organization will quickly become a $5 billion company — will have to wait. During his career, Jacobs has created seven companies including five that were publicly traded. And he’s not a novice to the LBM industry. In 1997, Jacobs founded United Rentals: the world’s largest equipment rental company, offering products to construction and industrial companies, utilities, municipalities, and homeowners. But the centerpiece of the evening’s festivities was Jacob’s book; a manual for many walks of life — family, friends, business, decision-making, interacting with others, and practicing patience. Fox Business television personality and host of the “Claman Countdown,” Liz Claman had the honor of introducing Jacobs in front of a nine-piece band that provided a steady, mellow groove of soul and R&B hits through the evening. Claman, who recently interviewed Jacobs on her show, and noted she had a sense of jealousy toward the business leader’s success, said the publication is an opportunity to “Open Brad Jacobs’ playbook.” When the mike was presented to Jacobs, he joked that “the book took a lot of work” and he might have thought otherwise if he realized just how much effort was involved. The business leader then took the time to thank the investors and employees who have helped him reach the peak, along with the love and support of his family. As I made the rounds and discussed what was on the horizon for QXO, and where it might penetrate the market, not a single attendee had a a clear answer to share. The mystery remains. “We’ll have to wait and see,” Joe Checkler, head of communications for Jacobs Private Equity, LLC, told me. And the wait is on for the true awakening of a billion-dollar giant.

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City of Hope City of Hope’s facilities are expanding what we know about cancer and other deadly diseases.

Building Hope FUNDR AISING FOR CIT Y OF HOPE TAPS THE INITIATIVE OF A TRIO OF INDUSTRY LE ADERS. By Ken Clark

evin Campbell, Jeff Lorberbaum and Tom Koos are walking lockstep into home-improvement-industry history as they share City of Hope’s Spirit of Life Award, to be bestowed during an industry gala Feb. 26 in Las Vegas. As they share the award, they also share a passion for moving the needle in the scientific battle against cancer and life-threatening diseases. The names of Campbell, Lorberbaum and Koos join a prestigious list (Marcus, Blank, Menear, Strickland, Ellison, Herring to name a few) of industry giants who have led the annual fundraising efforts for City of Hope, amounting to some $176 million since the industry group began its campaign in 1983.

thought I’d be on,” he said. “So it’s humbling. But also, looking at the names, you get a feeling of responsibility, as well. You have to carry the torch, and that’s what I’m sure all three of us are trying to do right now.” PrimeSource, Moen and Mohawk have long been generous supporters and advocates of City of Hope over the years. Moen’s Campbell describes support of one of the country’s largest cancer research and treatment organizations as a natural fit for his company’s culture—in terms of innovation, excellence and giving back. “For Moen, nothing defines ‘achieving success’ more than giving to people in need and seeing the appreciation and hope that assistance provides,” Campbell said. “We’re committed to supporting social causes and non-profit organizations aligned with our corporate values, and we’ll continue to find ways to make a meaningful difference to those we serve.” The National Hardware/Homebuilding Industry’s 41st annual Spirit of Life Gala is more than just award ceremony. A tee-off party hosted by Building Hope, will bring next generation of philanthropists together at Top Golf in Las Vegas on Sunday Feb. 25. On Feb. 26, an annual fund-raising golf tournament at Red Rock Country Club will precede Spirit of Life honorees: (From left) Koos, Lorberbaum and Campbell.

The 2024 Spirit of Life honorees: Kevin Campbell, president, Moen; Jeff Lorberbaum, president and CEO, Mohawk Industries; and Tom Koos, president and CEO, PrimeSource Brands. Every dollar raised brings society closer to history-making and groundbreaking advances in disease prevention, and the elusive and long-sought-after cures. The three honorees also share a strong belief in the power of injecting the goals of community service and philanthropy in the overall corporate missions. PrimeSource’s Tom Koos told HBSDealer that being selected as a Spirit of Life honoree brought feelings of modesty, humility and responsibility. “When you look at the list of past honorees, It’s a list I never

28 Februar y 2024 HARDWARE + BUILDING SUPPLY DEALER

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MOHAWK’S MISSION

Researchers at City of Hope in Duarte, California, share updates with members of the National Hardware/Homebuilding Industry fundraising group.

the awards night gala at Palms Resort Las Vegas. The night of the gala typically includes updates from the ground-breaking work of scientists at City of Hope. And one can also expect moving testimonials from the human impact of research and treatment, shared by those who experienced them. “This is a special cause,” Koos emphasized. “First of all,

Mohawk CEO Jeff Lorberbaum shared his thoughts on the Spirit of Life: “Mohawk and City of Hope share a commitment to helping people lead healthier lives, so it’s a special honor to be named as a recipient of this year’s Spirit of Life Award. Each day, City of Hope’s research teams are delivering groundbreaking results that translate into superior treatment and improved patient outcomes. “My family and I are proud to help City of Hope expand their life-saving work battling cancer, diabetes and other major illnesses.”

we’re all impacted by this. I don’t think you can find a person on the planet who hasn’t been impacted in some way by cancer or diabetes. And secondly, City of Hope is doing things differently. They’re on the leading edge. They’re part entrepreneurial. And the industry is supporting it. And that makes it all the more worthwhile.”

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HARDWARE + BUILDING SUPPLY DEALER Februar y 2024

Megan with her dad Joe Menzer, the third and fourth generations.

Megan Menzer shares that family feeling THE OWNER OF NE W TON’S TRUE VALUE TALKS ABOUT THE HARDWARE FAMILY. By Tim Burke

eing part of the hardware business is being part of one big family for Megan Menzer. She is chair of the True Value Co-op Board, and fourth-generation owner and operator of Newton’s True Value Hardware store in Cherryvale, Kansas, a town of about 2,000 situated in the southeast portion of the state between Wichita and Joplin. She grew up in the business, and said she remembers her dad coming home and “officially” offering Megan her first job when she was 12 years old. “I worked Tuesdays and Thursdays in the summer from 8 to noon,” she said. “I continued to work during the summers and once I graduated college, became a full time employee. I celebrated 25 years of owning and operating Newton’s last year.” When she is not at the hardware store or the firearms company she founded with her husband, she said, “I love spending time with our family. We have one son and one grandson.” Menzer also said she loves being outside or spending time in the gym, in addition to her duties with Ture Value and Cherryvale Chamber of Commerce, she’s a fitness model who has participated in bikini fashion shows all around the U.S.

30 Februar y 2024 HARDWARE + BUILDING SUPPLY DEALER

She shared what it’s like to run a hardware store. “We have always had more women than men in our store and because it has been that way since the start we were never treated any differently,” she said. She was young, only 21, when she started going to the True Value markets, she said, “99% of the dealers were men but they were all my dad’s age and they were so excited to see me stay in the business and carry on our family legacy. “They treated me as their daughter and have been an integral part of my successes as a store owner,” said the hardware owner. When Menzer won the Top Women award, she said, “I received so many emails, phone calls, and even hand written cards. I have never looked at it as a ‘women’ business; just part of a larger family.” Today, she mentors other women in business. “I actually started a mentorship program in our business in 2022. I love empowering other women and helping them live their best lives. We all have a lot on our plates and I believe time is priceless,” she said. “When you have the knowledge and experience and can help someone else I encourage you to do so. I always believe I gain more out of it than the person I am mentoring,” said Menzer. She has advice for others: “Be yourself, always be you. Push hard, ask questions, and never stop.” Menzer said to make sure to educate yourself, always know what you are talking about and do not be afraid to admit it and say you do not know the answer. Be willing to research and find the answers. “My biggest thing is networking. Talk to people, put yourself out there,” she said. “I have a saying: ‘It’s what you know and who you know that gets you where you want to go.’ Make connections, listen, and make sure you are always growing.”

“Anytime I would go to True Value markets or meetings I was always so welcomed. When people talk about the ‘True Value Family’ I seriously feel it,” said Menzer. HBSDealer.com

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People In News

Deegan’s Do it Best on merchandising Deegan’s co-owners Tracy and Don Deegan at a Do it Best market in Indianapolis.

WISCONSIN HARDWARE STORE CHECKS MORE BOXES THAN E VER.

on Deegan is co-owner of Deegan’s Do it Best Hardware in Edgerton, Wisconsin, a town of 6,000 near the

Rock River. “We’re a full line hardware store with paint and rental departments,” he said, adding the DIY/Pro split is about 70/30. “When it comes to purchasing for your hardware store, you look ahead. “Of course you look back too, to see what items are movers off your shelves. The organized owner will use strategy; and tick off boxes in the planning stage,” said Deegan. He said there’s more demand today for

supplying a wider range of products. “The ease of the internet has made customers expect more from our brick and mortar stores. Customers are used to what appears to be an infinite selection, consequently, we as retailers, and our suppliers have had to respond with more selection,” he said. Games? – check. Candy? — check. Assembly of items? — check. Bird houses? — check. And when customers asked for Pokemon cards, Deegan’s Do it Best found a vendor and purchased the display. “Suppliers offer more selections,” said the owner, “so you expand your purchasing.

Your strategy when making buying decisions for the coming months and seasons is key.” The owner gave a tip for other owners making purchases to fill their hardware store inventories. “Have your research done before you get to your market. Utilize pre-market online buying from the attending vendors,” said Deegan. A wise owner will navigate purchasing decisions by listening to customers, making adjustments and planning ahead. “Purchasing is the behind the scenes activity that can give you the edge,” said the owner. “Using it well can produce great payback.”

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32 Februar y 2024 HARDWARE + BUILDING SUPPLY DEALER

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After nearly 13 years of dedicated service at Do it Best and over 35 in the independent home improvement industry, Rich Lynch has retired from his role as vice president of marketing at Do it Best. Lynch joined the Do it Best team in 2011. During his tenure as vice president of marketing, and previously as retail marketing director, Lynch has been a central figure in the evolution of Do it Best’s marketing strategies.

Lynch

Andren

LBM Advantage, the lumber and building materials cooperative, has hired Rob Andren as its new information technology director. Andren will based at LBM Advantage’s New Windsor, New York headquarters and oversee technology operations for all four of the cooperative’s locations. Briggs & Stratton reported that Sequoya Cross, VP of energy storage, has been elected to the California Solar & Storage Association (CALSSA) board of directors. Cross, who has 20 years of experience in the energy industry, was the COO for SimpliPhi Power prior to its acquisition by Briggs & Stratton in 2021.

Cross

Woodsum

L&W Supply has promoted Mark Woodsum to vice president of its newly created North Central Region. Woodsum joined the L&W Supply team in 2015 as a sourcing manager. Since then, Woodsum has served in several roles, including branch manager of the Roselle, Illinois, location; national metal merchandising manager; Upper Midwest District manager; and regional business manager. Misura Group announced that Jim Moody has joined the organization as a consultant. Moody’s career includes a 17-year tenure as the president of the Georgia-based Construction Suppliers Association. Misura Group said Moody arrives with a proven track record of “addressing the unique challenges faced by independent and family businesses in the LBM Industry.”

Moody

Hoffman

Boise Cascade announced that Tom Hoffman, senior vice president of purchasing, building materials distribution (BMD) division, is retiring effective March 1. Hoffman joined Boise Cascade in 1981 and has served in many key roles and leadership positions over the years.

Simplified. Supported. Success. A Powerfully Simple Point of Sale Solution. Call 800.725.2346 or learn more at paladinpointofsale.com

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HARDWARE + BUILDING SUPPLY DEALER Februar y 2024

Monthly Retail Sales, not adjusted

Residential Construction/Sales 13 months of housing starts and existing-home sales

home centers and pro dealers (NAICS 444) and hardware stores (NAICS 44413)

Total starts

NAICS 444 (sales in $ billions)

(in thousands, SAAR) Dec.1,469,000

NAICS 44413 (sales in $ billions)

1800

1700

1600

43.5

42.2

40.9

40.0

39.2

3.17

37.0

1500

3.24

3.40

3.27

3.19

3.27

1400

1300

1200 1100

1000

900

SOURCE: COMMERCE DEPARTMENT

OCTOBER 2022

Single-family starts

NOVEMBER

DECEMBER

AUGUST

2023

2022

SEPTEMBER

OCTOBER

2023

SOURCE: MONTHLY RETAIL TRADE REPORT FROM THE U.S. CENSUS BUREAU

(in thousands, SAAR) Dec.: 1,027,000 1400

HBSDealer Stock Roundup

1300

the percent-change performance of stocks based on Jan. 25 prices

1200 1100

150

1000 900 800

BLDR

120

600

ANNUAL CHANGE

700

SOURCE: COMMERCE DEPARTMENT

Existing-home sales (in millions, SAAR) Dec.: 3,780,000 7

BECN

SHW

6.5

MAS

SWK

5.5

LOW

0 -7

-6

-5

WY -4

-3

HD -2

-1

DJI 1

TSCO 3

4.5

MONTHLY CHANGE

4 3.5

BECN (BEACON); BLDR (BUILDERS FIRSTSOURCE); BMCH (BMC STOCK HOLDINGS); MAS (MASCO CORP.);

HD (HOME DEPOT); LOW (LOWE’S); SHW (SHERWIN-WILLIAMS); SWK (STANLEY); TSCO (TRACTOR SUPPLY);

SOURCE: NATIONAL ASSOCIATION OF REALTORS

WY (WEYERHAEUSER); DJIA (DOW JONES INDUSTRIAL AVERAGE)

Consumer Watch Unemployment rate

Consumer confidence

Gas prices

for the entire United States

indexed to a value of 100 in 1985

average price per gallon (regular)

8.0

10.0

12.0

4.0

Current Prior month

120

Prior year

16.0

3.7%

18.0

December 0.0

$4.00 $3.00

14.0

6.0

2.0

100

20.0

110.7

$3.10

December

Jan. 26

34 Februar y 2024 HARDWARE + BUILDING SUPPLY DEALER

140

$2.00

$5.00

SOURCES: LABOR DEPARTMENT, THE CONFERENCE BOARD, AAA

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Demo the new WEDGECLIP at the International Builders Show. Visit us at booth # SU1327 in the South Hall. *Warranted by CAMO for use with Trex®, TimberTech® by Azek®, MoistureShield®, Fiberon®, Deckorators®, and other leading brands. Visit camofasteners.com for full warranty details.

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