Nashville-based Innovative Hearth Products has launched a new line of products, branded as Superior, targeting landscape architects, designers and outdoor room specialists. IHP manufactures Lennox Hearth Products and FMI Products.
The branding campaign is part of IHP’s strategic initiative to streamline and restructure its collective product lines, following the company’s fall 2012 acquisition by the Comvest Group, which included the merger of Lennox and FMI.
Under the auspices of IHP, the Superior brand expands the company’s footprint in the specialty hearth manufacturing industry.
“IHP’s new Superior brand of outdoor fireplaces with technologically enhanced features and aesthetics are designed to provide landscape architects and designers with an assortment of products to complete their outdoor room projects,” said Glenn Thomson, executive vice-president of sales and marketing for IHP.
Nissan sold more than 125,000 cars in May, up almost 18 percent from the May 2013 number and among the industry's leaders for the month. The increase was led by the best-ever Mays for a number of models, including the locally built Altima and Rogue, and a record month in sales of Nissan's Leaf electric car. Sales of the group's Infiniti brand jumped more than 30 percent.
“Nissan started the month with strong momentum and rode an outstanding Memorial Day weekend to capture our best May sales performance in the history of Nissan in the U.S.,” said Fred Diaz, senior vice president of Nissan Sales & Marketing and Operations. “It’s clear that our products are resonating with the public and car sales are heating up as we head into summer.”
Nissan is moving all worldwide production of its Murano crossover to Canton, Mississippi, and has asked contractor Kelly Services to recruit 500 workers. Ramped-up production is scheduled to begin this fall and will take the company's employment at Canton above 6,000 for the first time. Suppliers based in a new park nearby are expected to hire another 400 people.
Deutsche Bank analyst Paul Trussell has downgraded shares of Dollar General (Ticker: DG) to 'hold' from 'buy' and lowered his price target from $65 to $60 — less than 10 percent above where the shares opened Wednesday trading. Recommending that investors take a step back from the dollar store group, Trussell said he is concerned about margin pressures and same-store sales holding up: "The biggest challenge, in our view, is for DG to grow SSS 3-4% while maintaining flat to up GPM (ex. Tobacco) given a sharp pricing environment" driven by Walmart, Target and Family Dollar.
Analysts at Bank of America Merrill Lynch have begun covering Delek US Holdings with a 'neutral' rating and a price target of $34. That leaves about 15 percent of upside for Delek (Ticker: DK), which rose 2 percent Wednesday to $30.20.