Business Newsreel: Median homes prices rise in New Hampshire
CONCORD — Median home prices in New Hampshire rose slightly in May from a year ago, but 5 percent fewer homes were sold last month than in May 2013, according to an industry group.
Through the first five months of 2014, the number of residential units sold (4,490) was 7.9 percent behind those sales during the same period in 2013 (4,874), while this year’s median price of $219,000 was 7.9 percent ahead of the $203,000 last year, according to the New Hampshire Association of Realtors.
“We need to be mindful that last year’s numbers marked significant increases across the board, so I caution anyone against being overly concerned with a few monthly dips in unit sales this year,” said President Alan DeStefano, a 15-year industry veteran.
There also was less housing inventory on the market at the end of May, a supply of 8.2 months, compared to 10.2 months in May 2013.
Condo sale units, meanwhile, were down 5 percent in May and 6 percent year to date over similar periods a year ago, while median price saw increases of 4.2 percent in May (at $172,000) and 4.1 percent for the year (at $161,250) over last year.
Performance Sports debuts on NYSE
EXETER — Performance Sports Group Ltd., a developer and manufacturer of sports equipment and apparel, debuted on the New York Stock Exchange this week under the ticker symbol “PSG.”
Its public stock offering was expected to gross approximately $110 million, with part of the net proceeds earmarked to repay a portion of the company’s loans used to finance its recent acquisition of Easton Baseball/Softball, according to the company.
Last week, the company changed its name from “Bauer Performance Sports Ltd.” to “Performance Sports Group Ltd.” to better reflect the company’s growth. Its brands include Bauer, Mission, Maverik, Cascade, Inaria, Combat and Easton.
Pep Boys revamps southern NH stores
Pep Boys is celebrating the launch of its redesigned automotive service and retail center Friday through Sunday in its southern New Hampshire stores and greater Boston-area stores, including Manchester, Nashua, Portsmouth, Salem, and Everett, Mass.
On Saturday, free events from 10 a.m. to 3 p.m. at all six locations will include give-a-ways and special retail sales and live DJ entertainment.
A ribbon-cutting ceremony will take place at each store at 8 a.m. The first 10 customers in line at each store will receive a $25 Pep Boys gift card.
Company recalls cork- piercing devices
WASHINGTON — A Massachusetts company is recalling about 66,000 cork-piercing devices because the wine-dispensing systems can break bottles, creating a risk of cuts, the U.S. Consumer Product Safety Commission said on Wednesday.
Coravin’s 1000 Wine Access System uses a hollow needle to penetrate a wine bottle cork and allow wine to be dispensed without removing the cork, the commission said in a statement.
The Burlington, Mass., company has received 13 reports of bottles breaking. They include one in which a bottle burst into four pieces and caused two chipped teeth and a cut that required stitches, the statement said.
The system was sold online and at wine stores from July 2013 to June 2014 for about $300. It was made in China.