Industry Updates: Home Center and Hardware Chains – June 2014
Bob’s Discount Furniture, which is backed by Bain Capital, has hired Chris Day as Senior VP of Real Estate.
Do it Best Corp. announced that John Snider, VP Retail Logistics has officially retired. He was replaced by Tim Miller.
Havertys has hired Kathy Daly-Jennings to be its new Senior VP Marketing. She replaces longtime company executive Thomas Curran, who is retiring. She will report to Richard Gallagher, Exec VP Merchandising.
Home Depot marketing executive Frank Bifulco has left the company and was named Exec VP Marketing for Staples.
Interline Brands, Inc. announced that Fred Pensotti has been named Chief Financial Officer of the company.
Lowe’s has named Paul D. Ramsay as Chief Information Officer.
Lowe’s has named a new Senior VP. Michael Tummillo is taking over the Building and Maintenance division as Senior VP and General Merchandising Manager.
Lumber Liquidators has formalized its compliance and sustainability team headed by Raymond Cotton, who was appointed as Chief Compliance and Sustainability Officer. Reporting directly to Cotton will be Lisa Kuca as Director of Global Product Compliance, and Rebecca Rizzuti as Director of Global Trade and Customs Compliance.
Parr Lumber Company appointed Carl Moyer as the new training and development facilitator for the company and its subsidiaries.
Snavely Fores Products has promoted Elizabeth Grieff to the role of Engineered Wood Products Manager.
Pier 1 Imports announced that total sales for the year increased 3.9% to $1.8 billion, from $1.7 billion in the 53-week period last fiscal year. On a 52-week basis, comparable store sales for fiscal 2014 increased 2.4% versus an increase of 7.5% for fiscal 2013.
Mergers and Acquisitions:
Cedar Creek completed its acquisition of Des Moines, Iowa-based Roberts & Dybdahl.
Central Network Retail Group (CNRG) entered the Pacific Northwest region with the acquisition of Parkrose Hardware in Oregon and Washington.
Carls Furniture, whose origins date back to 1941, has closed its remaining three stores, after 73 years and three generations serving South Florida.
Jerome’s Furniture will open its fifth Los Angeles-area store and 10th overall full-line store later this year as it continues a steady expansion in Southern California.
Lumber Liquidators announced plans to open a total of 35 to 40 new store locations in the expanded showroom format. This represents an increase from a previously projected range of 30 to 40 new store locations.
Lumber Liquidators announced plans to remodel a total of 25 to 30 existing stores in the expanded showroom format. This represents an increase from a previously projected range of 25 to 35 existing stores.
Rudy’s Hardware, a long time independent in Cleveland is closing for good due to the retirement of owner and founder Rudy Rosales. Mr. Rosales is donating all remaining inventory to the Greater Cleveland Habitat for Humanity.
The Sherwin-Williams Company expects its Paint Stores Group to open 80 to 90 new stores by the end of the current fiscal year.