Industry News: Home Center and Hardware Chains – March 2014
Aaron’s has named Michael P. Ryan as VP of Franchising. He replaces Todd Evans, who is leaving the company. Henri Rogers, currently Senior Regional Manager for Aaron’s Three Rivers region, will succeed Ryan as divisional VP of Northern Operations.
Do it Best Corp. has announced the promotion of John Branigan and Tom Morgan to Retail Performance Managers. Branigan and Morgan will lead co-op efforts in aiding the growth and enhancement of member stores through retail performance programs developed exclusively for Do it Best Corp. member-owners.
Handy Hardware announced that industry veteran and former top merchandising executive Mickey Schulte has resigned to take a position outside the hardware industry.
The Home Depot announced that Craig Menear has been named President, U.S. Retail. Menear was previously Exec VP, Merchandising responsible for all merchandising departments and merchandising services and strategy; the company’s supply chain network; global sourcing; vendor management; marketing; and online sales. In his new role, Menear will add responsibility for all U.S. store operations.
The company also announced that Mark Holifield, Senior VP Supply Chain, has been named Exec VP, Supply Chain and Product Development, with responsibility for sourcing and proprietary brands. Holifield will continue reporting to Menear.
PPG Industries has promoted Kevin McDonald to the role of VP Fiber Glass. McDonald will transition from his current role as PPG GM, Reinforcements, Fiber Glass. He will succeed Thomas Kerr, who is retiring effective the same day.
ProBuild Holdings has named Jeff Pinkerman its new CFO.
Tractor Supply Company announced that Robert D. Mills has joined the company as Senior VP and CIO, succeeding James Callison. Last year, Mr. Callison communicated his plans to retire and Tractor Supply developed a plan that included the search for his successor and a transition period. As part of this plan, Mr. Callison will stay with the company for a period of time until a smooth transition is completed. Mr. Mills will also serve on Tractor Supply’s Executive Committee.
Weyerhaeuser announced that Denise Merle has been chosen as its new Senior VP of Human Resources. She replaces John Hooper, who is leaving to pursue an opportunity with StanCorp.
Boise Cascade announced that for the full year, sales were up 17.8% to $3.27 billion.
BlueLinx reported sales gains for the full year, as sales improved 12.8% to $2.15 billion.
Fastenal Company reported the results of the year ended December 31, 2013. Total annual sales increased to $3.326 billion from $3.134 billion from the previous year, for a 6.1% annual gain.
Huttig Building Products reported that net sales for the 12 months ended Dec 31 sales came in at $561.5 million, up 7.8% from 2012.
Lowe’s announced that sales for the fiscal year just completed, 2013, rose to $53.4 billion, a 5.7% increase over 2012 sales.
Lumber Liquidators reported that for the full year, net sales increased 23.0% to $1 billion in 2013 from $813.3 million in 2012.
Home Depot announced that for the full year, net sales increased 5.4% to $78.8 billion. Excluding the 53rd week from the prior year, the increase was 7.2%.
Stock Building Supply reported full year net sales of $1.197 billion, up 27.0% from 2012 sales of $942.4 million.
Tile Shop Holdings reported annual sales of $229.6 million up from $182.7 million for the previous year.
True Value Company reported that for the full year, revenue was $1,411.5 million, an increase of 1.0%.
Williams Sonoma, Inc. announced operating results for the fiscal year ended February 2, 2014. Net revenues increased to $4.388 billion versus $4.04 billion from the previous year.
Mergers and Acquisitions:
Ace Hardware Corp. announced that it has acquired Emery-Waterhouse, the Portland, Maine-based distributor of hardlines products for independent lumber, paint, industrial and hardware outlets.
Home Depot announced plans to open seven new locations during the new fiscal year, which ends February, 2015.
Lowe’s expects to open approximately 15 home improvement and 5 hardware stores in the coming fiscal year.