Masco to sell home group.(Masco Corp.)
HFN: The Weekly Newspaper for the Home Furnishing Network, June, 1995 by Mi Kim, Young
Masco Corp plans to sell Masco Home Furnishings to concentrate on its more profitable home improvement and building products businesses. The home group has fallen short of Masco's targeted return on investment. In 1994 it had single-digit operating margins. Still, it is the largest home furnishings vendor in the US, with $1.9 billion in 1994 revenues. Masco has vowed to sell it whole, but is already divesting some divisions individually.
TAYLOR, Mich.--The board of Masco Corp. has decided to spin off or sell its entire home furnishings group because the return on investment doesn't measure up to the company's goals.
Richard Manoogian, Masco's chairman, said in a prepared statement issued last week that the companies "will not achieve the superior return criteria...
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