Orchard’s super hardware strategy

Orchard Supply Hardware has gone through a lot of changes in its 80-year history, but the California chain — now numbering 89 units with $660.7 million in annual sales — has weathered them all. Changes in ownership, leadership, store design, color scheme and signage have come and gone. But the stores’ customers — known for their exceptional loyalty — have generally stuck with the chain.

In March 2011, Orchard’s majority owner, Sears Holdings, announced that Orchard had hired Mark Baker as its new chief executive. Baker’s curriculum vitae — former head merchant for Home Depot and, more recently, president and COO of Scotts Miracle-Gro — has observers expecting big-league initiatives from the California company. Baker had only been on the job for a few weeks when he hired Steve Mahurin, the former chief merchandising officer at True Value and another former Home Depot executive, as his head merchant.

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(As reported by HomeChannelNews.com)

Home Depot begins major expansion on Dallas DC

Home Depot has begun construction on a 1.18 million-sq.-ft. warehouse in South Dallas, according to an article in the Dallas Business Journal.

The $20 million expansion will add to Home Depot’s 531,000 sq. ft. of distribution space in South Dallas and includes tenant improvements and real property. The Atlanta retailer’s warehouse has been located at the leased site since 2007.

Construction is scheduled for completion in 2012. An estimated 250 jobs will result from the expansion, according to city documents.

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(As reported by HomeChannelNews.com)

Home Depot posts another quarter of growth

Stormy weather around the country had something to do with Home Depot’s third quarter sales gain of 2.9%. So did strength in core categories.

The world’s largest home improvement retailer posted a 4.2% comp-store sales gain for the quarter ended Oct. 30. Total sales increased 2.9% to $17.326 billion. And even bigger growth came in the net earnings column, where Home Depot reported a 13.0% increase and net earnings of $934 million.

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(As reported by RetailingToday.com)

99 Cents Only has big store plans, 2Q comps up 6.7%

A strong earnings and sales performance during its fiscal second quarter gave 99 Cents Only Stores the confidence to raise its full year guidance and become more aggressive with store growth. The company reported that total retail sales increased 9% to $352.2 million and same-store sales increased 6.7% for the second quarter. Consolidated net income increased by $2.2 million to $15.1 million or 21 cents per diluted share, versus $12.9 million in the prior year, or 18 cents per diluted share.

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(As reported in RetailingToday.com)