Industry News: Home Center and Hardware Chains – March 2013
Handy Hardware Wholesale hired J.R. Ferguson, a former Senior Distribution Manager for Office Depot, as Director of Operations. The co-op filed for Bankruptcy protection in January. The company is continuing its search for a CEO.
Heartland Co-op announced that Todd Phillips has been selected as the cooperative’s Exec VP of Grain and Risk Management.
Heartland Co-op announced that Nick Hyde has been promoted to Director, Petroleum Sales & Marketing.
Lowe’s named José Luis Pier Castelló as President/General Director of Lowe’s Mexico. He replaces Francisco Fernandez, who has left the company.
Russin Lumber hired Larry Caron in the position of Territory Manager for the Eastern Pennsylvania market.
The Home Depot announced that for the year, sales increased 6.2% to $74.8 billion.
Huttig Building Products reported sales of $520.5 million in the full year ended Dec. 31, up 8.7% from $478.7 million in 2011.
Lowe’s Companies, Inc. announced that for the fiscal year, sales were $50.5 billion, a 0.6% increase over fiscal year 2011.
RONA Inc. reported its financial results for the 53-week periods ending December 30, 2012. The company reported sales of $4.9 billion in 2012, a 1.7% increase over 2011. Growth is mainly attributable to the recording of a 53rd week, increased sales in the Commercial and Professional Market division and the opening of new proximity and satellite stores.
Mergers and Acquisitions:
Sleepy’s was confirmed as the winning bidder for the 80-store Mattress Discounters chain in U.S. Bankruptcy Court.
Aaron’s, Inc. announced the recent opening of a combined 32 new Company-operated and franchised stores in 17 different states and two Canadian provinces.
Lowe’s Companies, Inc., expects to open approximately 10 stores in fiscal year 2013.
Lowe’s has been named The U.S. Environmental Protection Agency (EPA) winner of the Energy Star Partner of the Year – Sustained Excellence Award for the fourth consecutive year. The 2013 award recognizes Lowe’s long-standing leadership as a retailer of energy-efficient appliances and products. Lowe’s is the only company to win multiple Sustained Excellence Awards in the product retailer category since the award’s inception in 2004. The company is being honored for outstanding achievements year after year in customer outreach, employee training and product selection. Lowe’s has won 11 consecutive Energy Star awards (2003 to 2013) for product retailing, more than any other retailer.