Home improvement retail giant, Lowe’s, finished off the fourth quarter strong with a significant sales increase, reaching the $285 million mark. Full year gains were up 12.7%, coming in at $2 billion. The company expects continued sales growth for fiscal 2011. The extra week of the year should help sales achieve a 5% increase…(read more)
In order to kick off the spring holiday shopping season, The Home Depot will be hiring more than 60,000 new employees. Titled Spring Black Friday, the home improvement conglomerate will be lowering prices during four different weekends in spring. The new seasonal associates will begin training during the months of February and March…(read more)
The Home Depot is planning a marketing bonanza to attract more female shoppers by replacing underperforming products with Martha Stewart merchandise. Martha will be working closely with the company’s executives to persuade female shoppers to take on a more active role in home improvement projects. According to Gordon Erickson, the senior VP of merchandising and décor, the retail conglomerate has always been perceived as “male oriented”, although 50% of its customers are women. Through design themes created by Martha Stewart, Home Depot hopes to eliminate the misled perception that the company only caters to men…(read more)
After a stellar 42-year career working for one of the largest home improvement corporations in the country, Larry Stone has decided to step down as Lowe’s president and chief operating officer. Mr. Stone will be staying on board until June 2 to help the company through a smooth transition. Most of his colleagues and peers in the industry credit him for positioning the company as one of the most successful home-improvement retailers…(read more)
North Carolina based Lowe’s will be cutting 1,700 middle management positions to make room for part-time workers. The reasoning behind the employment shift is to better serve the company’s customers during the busiest shopping periods. The hiring staff will be adding over 8,000 new part time positions and will take effect on Jan. 29…(read more)
Home Depot suppliers have a new management service provider to help develop compliant panograms. Hamacher Resource Group recently received their certification to be the retail conglomerate’s planogram developer by using JDA Space Planning Software. HRG had to pass “a rigorous certification process” in order to secure services for The Home Depot…(read more)
The Home Depot’s executive VP of merchandising, Craig Menear, was recently honored at the City of Hope cancer and diabetes care center’s “Spirit of Life” Ceremony. During the event, the City Of Hope’s Hardware and Homebuilding industry group was able to raise more than $1 million. Since it’s inception in 1982, City of Hope has been able to raise more than $140 million for various causes that include lifesaving research, treatment and education programs…(read more)
According to a report released from Customer Growth Partners (CGP), consumer sales rose over 5% for the holiday period of 2010. Government data and recently acquired information from CGP surveys shows the biggest year-over-year growth not seen since the 6.1% spike in 2005. Despite 10% unemployment, the American consumer seems to be helping the economy rise out of it financial woes, according to CGP president, Craig Johnson… Read More
Executive VP of merchandising for Home Depot, Craig Menear, recently described the process for choosing a private-label brand during the retail conglomerate’s recent Analyst and Investor Conference. The points discussed included innovation and brand relevance, as well as specific financial and quality issues. Both private-label brands and propriety make up about 14% of the home improvement retailer’s business…Read More
Lumber Liquidators has appointed Robert Lynch to be president and chief operating officer for the hardwood floor retail company. Lynch’s impressive resume includes top financial posts with Orchard Supply Hardware, The Home Depot, Accenture Consulting and Ernst & Young. Lynch will be overseeing several divisions that include merchandising and supply & chain store operations…Read More