The Home Improvement News begins today on a positive note again. A press release from 1888 Press Release said that the Mount Washington Valley Habitat for Humanity in New Hampshire is getting quite a bit of help from one local retailer.
Silver Lake Home Center has been donating $5000 a year to this Habitat for Humanity chapter for the last several years without much fanfare. The chapter builds one house per year for one needy family with this money equating to 10% of the total cost. In fact, the donations made by Silver Lake Home Center over the last four years matched a recent one time donation by a national home improvement chain.
“They’ve stuck with us throughout these past years. We’ve certainly never had any other organization that stayed with us as long as they have. You have people that come in on one house, but they seem to have the long term feeling for Habitat. This is the fourth house they’ve done with us,” said Robert Magoun, immediate past president of the Mount Washington Valley Habitat for Humanity.
And it doesn’t just stop there Silver Lake Home Center is constantly encouraging heir contractors and suppliers to help Habitat as well. It was through them that Habitat for Humanity became involved with White Mountain Home Builders Association who every year runs a charitable event where all the proceeds are donated to Habitat.
Silver Lake Home center is owned and operated by Mark and Heather Sherwood and has grown over the years from a small hardware store and lumber yard to a professional resource home improvement center and full service lumber yard. Yet even through all of the expansion they remain committed to a small store attitude emphasizing customer service on a first name basis.
How can you not feel good about a situation like this?
In other news, CNBC’s Jim Cramer on his Mad Money Lightning Round said Lowes the home improvement retailer is almost a buy. He felt that Lowes was a solid turn around play as soon as the housing market begins to turn around because they took market share away from local hardware stores.
Lowes stock has taken a significant beating because of the sluggish housing market, but has recently gained some ground on hopes of better housing reports. They also have better financial numbers than their competitors. Lowes still expects to have a 1% increase in sales for 2008 as their competition loose an estimated 6 to 7%.
I find this news partly good and partly bad if Jim Cramer is correct. It would be great to see a large home improvement retailer post an increase in sales, but it troubles me to see it at the loss of market share for the local hardware stores. And, if it does happen like this, what does that say for our troubled economy? One segment of a market does well while another suffers? I have to see this one play out a little more before I make a call.
Lastly, retailers Home Depot and Lowes each posted third quarter gains. Lowes stock rose 10% while the Home Depot rose 7. By midday trading on Tuesday Lowes stock climbed to $23.42 per share while Home Depot rose to $25. Much of the gain was attributed to the higher than average hurricane season.
Although this also seems like positive news I’m not sure what to believe here either. In the wake of Monday’s worst ever stock market loss and then the making back of most of it on Tuesday, the reports we have been getting for the last few months are conflicting. I am going to need additional time on this one as well.