Industry Updates: Home Center and Hardware Chains – May 2015
Build.com has brought Danielle Porto Mohn on board as its newest Chief Marketing Officer. In her new role, Mohn will be in charge of the company’s branding, long-term customer relationships, mobile and marketplace offerings, and the expansion of its marketing channels for further revenue growth. She will also guide the brand toward a more relationship-oriented focus.
The Hillman Companies, announced that its CEO, James Waters, has retired. Waters is retiring as chief executive and a member of the company’s board of directors after serving in a transitional capacity — and 16 years of total service to the company. In connection with the transition, the Company appointed Doug Cahill, its current nonexecutive chairman, as executive chairman. The Company’s Board of Directors is actively seeking a qualified replacement for a new Chief Executive Officer.
Home Depot announced several executive changes following the departure of Hal Lawton to eBay, where he will head up eBay North America. Settling into new roles are Jeanine Huebner, who with 15 years of experience at Black & Decker, was promoted to SVP merchandising, hardlines. Home Depot also brought in Adolfo Villagomez as merchandising VP in building materials. Villagomez brings experience from McKinsey Company and DuPont.
PPG Industries has made a number of executive appointments that will go into effect June 1. Current VP Investor Relations Vince Morales has been promoted to VP Investor Relations and Treasurer. Corporate Treasurer Eric Thiele will become VP and Business Controller, Global Architectural Coatings and Protective and Marine Coatings. Current Finance Director and Business Controller, Industrial and Packaging Coatings Scott Minder has been named Director, Investor Relations.
True Value Company has announced that Deborah O’Connor will join the company as Senior VP and CFO, succeeding veteran CFO David Shadduck who left True Value effective April 30.
Pier 1 Imports Inc. reported that for the full fiscal year 2015, total sales increased 5% to $1.87 billion, up from $1.77 billion from the previous year. Same-store sales increased 4.7%.
Mergers and Acquisitions
Kodiak Building Partners announced an agreement in which Kodiak would purchase substantially all the operating assets of Zarsky Lumber. Terms of the deal, which is subject to all the normal closing conditions, were not revealed. And it is expected to close by the end of the second quarter. The bulk of Zarsky’s management team — including CEO Cally Fromme, Phillip Steffy, Steve Weaver and Travis Fromme — will remain on board under the new management structure.
Carter Lumber has entered a brand new state market with the opening of a new location in Knoxville, Tennessee.
Lowe’s Canada plans to acquire the leases of 13 former Target Canada locations and to purchase Target’s Milton, Ontario distribution center for a total purchase price of approximately C$151 million (US$125 million). The proposed acquisitions are subject to court approval in Target Canada’s proceedings under the Companies’ Creditors Arrangement Act and certain other customary conditions. Completion of the court run process is expected by June 30, 2015.
Orchard Supply Hardware is opening a new location in Portland’s historic Hollywood Bowl Building, with a grand opening celebration beginning this May 16.
Rent-A-Center, Inc. expects to open 150 new locations during the current fiscal year.
Rent-A-Center, Inc. expects to close approximately 50 locations during the current fiscal year.
Sears Hometown Stores plans to refresh a round of 51 locations, located in Arizona, Colorado, Florida, Iowa, Kansas, Missouri, Nebraska, Nevada, New Hampshire, New Mexico, New York, Texas and Vermont
Tractor Supply Co., which had a 5.7% increase in same store sales and a 19% increase in earnings in the first quarter, plans to open 110 to 115 new stores in 2015.