When John Somerville, President and CEO of LMC, spoke to dealers gathered for the group’s Annual Meeting Thursday, he shared a message of continued growth. In 2017, LMC purchases exceeded $4 billion. Of those purchases, 79% were made by attending dealers of the LMC Annual. The group’s annual meeting drew attendees from 68% of its member base, some from as far as Alaska and the Bahamas.
The $4.3 billion in purchases in 2017 was an increase of 13.1% over 2016, Somerville told the crowd gathered at the Tampa Marriott Waterside. The increase includes 21% growth in panels and specialty woods, 5.6% growth in building materials, and 14.6% growth in lumber.
Part of the overall success of LMC dealers comes from the expansion of stores, Somerville said. There were 96 new stores opened last year, including 11 new companies opening 50 locations and 35 existing dealers opening new stores.
Somerville pointed to a consecutive 25-month record sales for LMC and an anticipation that the number can reach 26 months as march shows promise. Already, 2018 purchases are up by 12.6%, he said.
While looking ahead to future success, Somerville also recognized LMC member dealers that are celebrating milestone anniversaries this year. The oldest of which, Hancock Lumber and Richo Structures at 170 years.
Before introducing a featured speaker, Rory Vaden, Somerville announced that the 2019 LMC Annual will be held March 21-23, 2019 in San Diego.
Keynote speaker Rory Vaden, co-founder of Southwestern Consulting, and New York Times bestselling author of “Take the Stairs,” presented on self discipline, overcoming procrastination, and taking action to create exponential results.
The LMC Annual continues through Friday, March 23.