Lesco in deep do do

[Ric]

I just read an other post where some one said "lesco is all I use"

Fellows it is passed time to start looking for a new supplier. The Lake Erie Supply Company is in red ink up to their eye balls. There might not be a Lesco come Jan 1 2002. Yes I will miss Lesco too. They are right on the corner in every town and they have good products. But they are in default of loan payments and the creditors are calling in their loans.

[dhicks]

I have been using Lesco for a few years but most of my trade over the past six months has been with another company. I hate to see Lesco fold because b/w both companies, I had all the bases covered for supplies.

[Kent Lawns]

They released the current financials on November 1st.
Stock plummeted 40% by end of trading November 2nd.

They are publicly traded and never have been a big winner. They have enough critical mass and bank rates are low enough for them to survive.

I don't think they'll disappear, but cutbacks and big changes look likely.

[Got Grass?]

Lesco going bye bye?
Lets just hope we can still get parts....
If thay do go under, what will happen with warrenties?
Looks like I may need to stock up on fert, $3 more a bag other places, seed $.30 more LB other places, and pretty much everything else I get from there at great prices compared to everywhere else in the area..... I really hope I'm not stuck buying junk from Home Depot, or Farm & Country, Wall-Mart, Sears or another landscaping company. May have to go to the SOD farm for seed.
Sadly we have about a thousand landscapers in the area and I guess about 300 soley use Lesco.

[Lawn-Scapes]

Dave,

What Lesco do (did) you use?

I'd hate to see them go. I've been in a few in Florida and Maryland and their service is awsome. Every salesperson has been a pleasure to deal with.

I don't think it'll happen.

I hope they build one closer to me as I have to travel 45 minutes...

[dhicks]

Gaithersburg Lesco and Newsom Seed in Rockville. Lesco has always been good to me. Newsom has better seeds and the fertilizers seem better too. I think Newsom gets most of the fertilizers from Labanon. Whoever they get if from it's good stuff.

[HOMER]

Can't miss what you've never had! I hate to see them in trouble cause I was hoping one day in the not too distant future they would build a store close to me. I've never even seen a Lesco Store much less been in one. I do see the trucks from time to time but don't know where they are coming from. Their web site isn't too informative.

Maybe the outlook will improve.

[TGCummings]

Same here, Homer. Never heard of Lesco until LawnSite. ;)

[65hoss]

Restructuring may be going to happen, but a large company out of biz is almost impossible. Changes maybe, but hard to believe they will go out of biz.

[Got Grass?]

Lesco tends to hide out, so homeowners cant find them, as thay only sell to Pro's. and dont want everyone coming in not knowing anything and haseling them.
The one by me is only about 10-15min away, and tucked in the back of a building in a industrial park, w/ only the basic info printed on the door. 1/2 the place is thier shop, 1/2 is the store, parts, supplys, equip, fert, seed, chem, etc...
In order to buy pest/herb you must provide your applicators licence.
Shop is messey and thay dont work on snow equip. becasue thay have no floor drains, as DEC & law states no drains if ya store chems.
This place has the best customer service you can find anywhere in almost any buisiness.
The guys are really nice and will help ya make the right purchase, based on your needs not how much thay can profit. I swear thay take cources on each pice of euip. and everything else. Off the top of thier head thay can answer what size screw goes in a certin place or almost anything else you can thow at them.
Prices are great and thay will help you with pricing as well, how much to charge for this fert you just bought, or how much to charge for this aerator you just rented.
Thay call here all the time asking if everything is running smoothly, ask if I need any kind of servicing, Hydro change, winterizing. Call and let me know of sales, customer regonition days, rash of thefts in the area, new stuff thay got in, etc....
You can set up an account with them, so the employees you choose can pick stuff up when needed.
Thay dont sell anything that is homeowner grade or scrubs use.

Damn, I hope thay dont go bye bye... Hmm, Thay sould pay me for this post...

:D

[LAWNGODFATHER]

They got me started in the Apps side, but one of their employees went to another place that I now buy from that is 20% cheaper and the same quality of product. I don't get much from them anymore.

I will miss the Momentum though.

[MOW ED]

They are selling the fert in my Home Cheapo so they are trying to branch out. I think that the average homeowner here still sticks with Scotts over Lesco. We don't have a distributor real close so I really won't be effected one way or another.

[luv of green]

wow!! I didn't know lesco was in trouble. What do you guys plan to do? lesco products make a lawn standout , how in the world are we going to find a company with all of the best fertilizers,seed, and equipment in one location, this is scary

[TotalLawn]

Seen the Lesco Rep. at the store this morning. I asked him and he has heard NOTHING of the sort. He said there are 75 Lesco stores in FL. Maybe they are closing 1 of them. But as far as he knows, nothing is happening!!

[mdb landscaping]

maybe if they had a useful website this wouldnt be happening. well, that prolly wouldnt help em, but it all adds to the cause.

[Got Grass?]

Yeah, Lesco sells thier fert at Home Chepo but its it the homeowner stuff even tho its marked professional. The stuff you get from Lesco is better quality. Cant tell ya why but it is....

[LAWNGODFATHER]

The stuff at EL`Home Cheapo is the same quality you would get at Lesco. It is a different blend than we would buy, Made for the pro's sold at Home Depo for us to go there to buy it. However they don't and can't get the rates that I perfer so I don't buy it there.

[Scraper]

This is how an Urban Legend gets started. I read in L&L that they are restructuring and will be looking for new retail outlets as opposed to their service centers. A company like this won't just dissappear...it can't...they will file for Bankruptcy protection first and try to calm creditors as they get their S back together.

[fireball]

You can call 1-800-289-0496 tommorrow Nov 15, 2001 at 10AM and hear the CEO Bill Foley tell everybody what went wrong on a telaconference to the world. They won't go bankrupt in the near future but what will happen is when the stock drops to the one or two dollar level somebody like Simplot, Andersons, or John Deere will buy them out. Both Lesco and Scots have taken the high road when it came to business dealings and supporting the green industry. But we all know good guys usually finish last. New owners will get rid of deadwood, raise prices, cut costs by cutting out trade shows(when did you ever see a Simplot trade booth)and donations to state universities, screw customers, and when the economy turns around they look like genius's. Probably not a good stock buy now

[Fantasy Lawns]

http://www.landscapegroup.com/dynamic.asp?BAID=1&ArticleID=148

this News .....reports of expansion to 500 markets to help curve slumping sales....Oct 18 2001

the "rumor" heard was from Aug ...... after slumping sales due to weather issues in the Northeast and in Florida ...sparked talk of a buyer ...by Anderson in Ohio or Central Garden & Pet Co ....a Calf base company ...

“First quarter this year posted a loss of $5.6 million ….while last year quarter reported a loss of $1.2 million … second quarter net income fell 25 percent to $7.5 million compared with last year.

First half of 2001…. net income has fallen 78 percent to $1.9 million …..while sales dropped only 1 percent to $254.8 million. The company's stock closed at $10.90 Aug 24, down from a 52-week high of $18.38.” this is a summary of the August Report

Stock is at $7.45 today …..if they start expanding into other markets n it seems to work they may be a good buy ;->

[CSRA Landscaping]

I spoke with our Lesco rep. this morning when I was there about this and he also heard nothing of the sort. The only thing is that they obviously took some hits this year in their stock.

[Got Grass?]

http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=LSCO&script=400

Dosnt look like thay are in all that bad shape after reading this....
If anything comes out of that confrence call post it....

[gene gls]

Lesco is closing the small stores around my area and merging product and manpower to larger populated areas. The one near me closed around July. No notice or anything, just packed up and moved. Now its an hour trip to the closest store. They were nice guys to do business with, always answered any questions, never pushey.

Gene

[keifer]

I am not a big lesco supporter but i needed parts for my solo backpack sprayer and they were the only place in my town that had them.

[captdevo]

sounds like they may be having a few problems, but i've been seeing alot of articles about them setting up independent distribution in as many as 500 additional markets.

create a national network of Lesco dealers and add 100 more service centers.


hmmmm......... maybe an opportunity for some!!

[kutnkru]

Who knows with them in the limelight so heavy maybe they will finally finish their website so that LCOs and LMOs alike can use it -LOL!!!

[yergus]

i am not saying that it is not true, but i would like to know where the info came from. the lesco dealership i visit is in Fenton Missouri, and they are constantly busy, how could they lose. they have alot invested, and i am sure they are making a profit or they would close sooner. i hope the rumor is not true, but i would like just a smidgin of fact.

[brentsawyer]

I've been a customer of LESCO since 1996. Sincew then I 've even owned a few hundred shares and watched them dance a little and sold out and since remained on the side lines. They are a company with good margins and they have kept this in tact since I've kept up with them (30%) or abouts consistantly. This is good in any industry. The main problems that they have had as of lately are supply in their fertilizer has been hurt pushing OEM prices though the roof and their delivery routes have been highly inefficient. This causes problems when sending 60-75% full loads out on the road, margins have bailed them out but as they have been pushed, investors have disappeared. However, the main bonus that LESCO has is that it is the number one supplier to golf courses nationwide and who hasen't realized the rate of interest that has picked up in golf courses in the past five years. Personally, I think that the company will pull out and tighten their belts. This may come after some restructuring or layoffs but as anyone can vouch, they're numbers have fell inline to slightly above with the economy and when the econmoy hurts, the green industry does also since alot of their big sales are on credit, MOWERS, low margin, but high sales, they look bad to creditors.

[fireball]

Yergus
Just get a stock quote for lesco. Their symbol is lsco. Read the company news and the message boards. All the sorry facts that you need.

[captdevo]

Yergus,

i just quoted it from 'Lawn & Landscape' Mag. Nov. 2001 and also saw it in 2 other publications

[PetalsandPines]

Stumbled across this post today.....Funny how things change :rolleyes:
Could of, should of.. :rolleyes: payup

[Expert Lawns]

Being a sponsor of Lawnsite, I can't believe they didn't speak up in this thread.

[1MajorTom]

Being a sponsor of Lawnsite, I can't believe they didn't speak up in this thread.


This thread was started three years ago. I'm sure they didn't even see it, they weren't even a sponsor then.

[Mdirrigation]

Restructuring may be going to happen, but a large company out of biz is almost impossible. Changes maybe, but hard to believe they will go out of biz.

Can you spell ENRON , Remember the bigger they are the harder they fall

[brentsawyer]

If your speaking of LESCO stock and making money on it, you can pretty much forget about it. I had some about 6 years ago and it was still trading at its highest around 14. It has been in the same trading range for about 8 years and the only way to make money on it is to trade it short term, less than one year, where you will pay capital gains based on your income level, ouch!