Company Snapshot: 84 Lumber Company

84 Lumber Company

Address:
1019 Route 519
Eighty Four, PA 15330

Phone:
724-228-8820

Fax:
877-213-4381

Website:
www.84Lumber.com

Year Founded:
1956

Total stores:
255

Total Sales:
$2,140,000,000

Senior Executives:
Joseph A. Hardy- Founder, Chief Executive Officer
Maggie Hardy Magerko- Owner, President

Easily the segment in our market which was by far the hardest hit by both the subprime scandal and the recession was that of the pro dealers.  New home building virtually ceased for quite a while and business ran dry.

Prudently, 84 Lumber reluctantly shuttered many locations.   84 went from a prerecession count of 475 locations to 335 just two years later.  They have held count in the mid-200s in recent years and anticipate strategic openings and re-openings as local economies permit.  They have managed to reopen in select areas, as they had promised local communities during the toughest of times.

If an optimistic sign is required to show the pro dealer community that times are indeed better, last year’s annual sales for 84 Lumber increased nearly 33%, from $1.6 billion for 2012 to $2.1 billion for 2013.

The company remains in the hands of its founding family.  Co-founder Joe Hardy and long-time president Maggie Hardy Magerko continue to guide the company through boom times and bad.  Their pledge to reopen stores when possible, which were forced to close during the building crisis, seems to remain a guiding principle and a stronger possibility now that profits are again a reality.