But losses mount for the home furnishings e-retailer that went public in October.
In 2010, Hayneedle signed a lease to occupy what was originally a 501,357-square-foot location at the Monroe Logistics Center.
MONROE, Ohio and OMAHA, Neb., Oct. 17, 2012 -- Hayneedle, the online destination to find everything home, today announced that it has expanded its Monroe, Ohio distribution and fulfillment center (Hayneedle Distribution Center) to accommodate continued growth. The expansion increases Hayneedle's fulfillment space to approximately 600,000 sq. ft., while providing the company with the option to expand an additional 120,000 sq. ft. in the coming years.
In 2010, Hayneedle signed a lease to occupy what was originally a 501,357-square-foot location at the Monroe Logistics Center. Hayneedle chose the facility for its proximity to customers: from this location the company can reach over 70% of its customers in two business days. Dave Woods, the facility's Operations Director, noted that Hayneedle expects to be able to hold over two million cubic feet of product in the expanded facility. The expanded Hayneedle Distribution Center in Monroe will employ up to 150 full-time and seasonal associates in time for the 2012 holiday shopping season.
"Expanding our Monroe facility after only two years demonstrates our phenomenal growth, ongoing commitment to the Monroe area, and confidence in the facility's operations team," said Tom Clement, Vice President of Supply Chain and Logistics, Hayneedle. "It also demonstrates our belief in the incredible workforce in Monroe and the surrounding communities."
Broker Si Pitstick from Cincinnati Commercial Realty represented Hayneedle in the transaction for the expansion.
Celebrating its 10th anniversary in 2012, hayneedle.com is the online destination to find everything home…from patio furniture to platform beds, coffee tables to cuckoo clocks. With a wide variety of products for every room, style and budget, hayneedle.com's user-friendly shopping experience ensures people find what they love and love what they find. With free shipping on nearly everything – even 3,500 lb. bathtubs – and hassle-free returns with no restocking fees, consumers can shop with confidence. Hayneedle.com is owned by Hayneedle, Inc., a retailer with over 250 specialized online stores like cribs.com and grillsdirect.com, flash sale website thefoundary.com, and flagship site hayneedle.com. Hayneedle has been recognized by Internet Retailer and Inc. Magazine as one of the top online retailers and fastest growing companies in America. Learn more at www.hayneedleinc.com and shop atwww.hayneedle.com.