In a way to allow its customers better access to purchase items and to watch product videos and reviews, Home Depot will be making available its first mobile barcode program. This accessibility will greatly increase the efficiency of the company to sell its products through a digital realm. The 2-D barcode will be known as a QR code…(read more)
The Home Depot board of directors has nominated for election two new possible members. Ronald L. Sargent, CEO of Staples, and J. Frank Brown, the dean of a prominent international business school, will be up for consideration during the company’s annual meeting on June 2. In other news, David H. Batchhelder will be stepping down as a director after serving for the last 5 years…(read more)
In an effort to manage more effectively the 1,600 stores it has in 20 eastern states, Walmart has announced the opening of a new office in Atlanta. Rosalind Brewer has been appointed to run the new east division. She currently is the president of Walmart East and the executive VP of Walmart U.S…(read more)
BJ’s Wholesale Club is in a preliminary discussion to potentially be acquired by private equity firm Leonard Green & Partners. Both parties have signed a confidentiality agreement. The equity firm already owns 10% of BJ’s stock that it had purchased last summer…(read more)
Dollar Tree has the top ranking among companies measured by their relative performance in the General Merchandise Stores industry. The company posted a gain of 1.1%, ending the trading activity of March 14th. Dollar General posted a loss of 0.49 percent…(read more)
In order to boost sales nation-wide, Walmart announced a plan to open 300 to 400 new stores across the country. These stores will be scaled back versions of the giant facilities Walmart currently has open in both its urban and rural markets. “Walmart Market” will be approximately 25,000 to 70,000 sq. ft., and “Walmart Express” will be even smaller at 15,000 sq. ft. The company has a plan in place to open up these smaller stores within the next three years…(read more)
SAN JOSE, Calif.–(BUSINESS WIRE)–Orchard Supply Hardware, a leading regional home improvement retailer operating 89 full-service home and garden stores in California, announced today that it has appointed Mark Baker as its President and Chief Executive Officer. As previously announced last December, the company undertook a thorough search process and selected Mr. Baker based on his extensive leadership and merchandising experience within the home improvement retail industry. Mr. Baker will also join the Orchard Supply Hardware Board of Directors.
“Mark brings a wealth of expertise in leading home improvement retail companies, and we are excited to welcome him to our team at Orchard Supply Hardware,” said William Crowley, Chairman of Orchard Supply Hardware’s Board.
“Under Mark’s leadersh…
Bill Lennie was named the new president for Home Depot Canada. He will be replacing Aaron Carmack who is on an extended leave of absence to deal with a personal matter. Lennie was previously the company’s senior VP of merchandising, international and sourcing where he was responsible for various operations including environmental innovation…(read more)
Costco has posted a net sales increase of 11% for the 3-month period ending February 13, 2011. Final sales numbers reached USD 20.45 billion. Other second quarter results for the company included:
– A five percent increase in comparable sales in the US and a 12% increase internationally – giving a total (comps) sale increase of seven percent.
– Without including the financial effects of gasoline inflation and stronger foreign currencies, comps for Costco posted an increase of three percent domestically and eight percent internationally, tallying an overall total increase of four percent.
– Net income increased to USD 348 million; a significant financial jump of 16.4%.
– Mexico sales contributed to a three percent total Q2 increase for Costco. The company has a 50% owned joint business venture with the Latin American country that commenced on a prospective basis during the company’s 2011 fiscal year.
As of early March of this year, Costco operated a total of 581 stores (424 in the US and Puerto Rico, 80 in Canada, 22 in the UK, seven in Korea, six in Taiwan, nine in Japan, one in Australia, 32 in Mexico). Costco is planning to open either 15 or 16 new locations by the end of the fiscal year. These warehouses will include one relocation and one re-opening.