Orchard’s super hardware strategy

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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

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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

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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%

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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)

Lowe’s: ‘Not pleased’ and not standing still

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Lowe’s second-quarter financial report was a disappointment to the company’s executives, who made no excuses for the retailer’s poor showing. Earnings were down slightly, revenues grew by only 1.3%, and comp-store sales were essentially flat. “Even after taking into account the challenges of the macro environment, we are still not pleased with our performance this year,” said chairman and CEO Robert Niblock, speaking at an analysts’ conference call on Aug. 15.

Instead, Niblock and his executive team outlined a series of initiatives they intend to implement — or in some cases, accelerate — to address some “gaps” they’ve identified through a critical analysis undertaken earlier in 2011.“We will go to market differently beginning in the second half of this year,” Niblock said.
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(As reported in Home Channel News)

Home Depot’s CEO, 11 Major Companies, And America’s Jobs Crisis

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Bernie Marcus, the co-founder of Home Depot (HD), is one of my favorite personalities in the business world. Anytime I’m aware that Marcus is speaking, I try and make myself available to hear what he has to say. I believe he offers good points of view, his opinions are fair, and he is entertaining as well. On Thursday, September 15, Marcus was a guest on CNBC and spoke about an array of topics, which included his foundation, jobs, politics, business, and the market, among others. But what I found most interesting was his view of the proposed jobs plan and the mindset of corporate America after the recession. Read the rest of the article

(As reported by Brian Nichols of SeekingAlpha.com)

Sears Holdings drills into Costco clubs with Craftsman tool offerings, hopes to tap new customers

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Sears Holdings Corp. has agreed to sell its Craftsman tool line through Costco clubs nationwide, marking the Hoffman Estates-based retailer’s boldest step yet in distributing exclusive in-house brands outside its namesake stores.

Craftsman hand tools, power tools and tool storage units will start appearing on Costco shelves as early as Saturday, Sears told the Chicago Tribune in an interview Tuesday. The Craftsman tools are slated to roll out to all of Costco Wholesale Corp.‘s roughly 430 U.S. stores this year, with the assortment varying by location.  Read the rest of the article

(As reported in the Chicago Tribune Business section)

Costco’s CEO, co-founder Jim Sinegal to retire

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Even when Costco Wholesale co-founder and Chief Executive Officer Jim Sinegal talks about leaving the company he built into the country’s third-largest retailer, he exudes his quirky mix of humble, frank and feisty.

“It’ll be an upgrade,” Sinegal joked about being replaced as CEO on Jan. 1 by President and Chief Operating Officer Craig Jelinek. “He is well-liked and smart and energetic and all the things that I used to be.”

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(As reported in The Seattle Times)

Lowe’s Rolls up its Sleeves and Addresses Merchandising

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Lowe’s second-quarter financial report was a disappointment to the company’s executives, who made no excuses for the retailer’s poor showing. Earnings were down slightly, revenues grew by only 1.3%, and comp-store sales were essentially flat. “Even after taking into account the challenges of the macro-environment, we are still not pleased with our performance this year,” said chairman and CEO Robert Niblock, speaking at an analysts’ conference call on Aug. 15.

Instead, Niblock and his executive team outlined a series of initiatives they intend to implement — or in some cases, accelerate — to address some “gaps” they’ve identified through a critical analysis undertaken earlier in 2011. “We will go to market differently beginning in the second half of this year,” Niblock said. Continue reading the article

(As reported in Home Channel News)

Lowe’s Closes Seven Stores

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Lowe’s Cos. reported Monday that profit for the quarter ended July 29 was $830 million, down from $832 million in the year-ago period. The home improvement retailer closed seven underperforming stores on Sunday and trimmed its earnings forecast for the year.

“Despite some recovery in our seasonal business, our performance for the quarter fell short of our expectations,” said Robert A. Niblock, CEO.

(As reported in Chain Store Age)

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