Family Dollar posted its highest first-quarter same-store sales increase in more than 12 years. The company credits the upsurge in profits to a growing number of consumers who are looking for value and a better overall shopping experience. Family Dollar continues to open new stores at a rapid rate and is planning to open 300 […]
Dollar General is in the process of opening 625 new stores and expanding its employee base by hiring 6,000 new employees. The company will spread these new locations among the 35 states it already conducts its business. Connecticut, Nevada and New Hampshire are three states that will receive new stores, while Kansas and Missouri will […]
Lowe’s has announced the opening of four new locations in New Jersey, Maine and California. The official opening day for all the new stores was on Dec. 27, 2010. Lowe’s operates over 1,700 stores in the United States, Canada and Mexico… 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 […]
The National Association of Realtors (NAR) is predicting a positive overall growth for the housing market in 2011. Among the announcements were estimates that new home sales would rise 24% and existing home sales would follow suit with a projected 8% increase to reach 5.2 million. The NAR is known for its bold optimism, and […]
Stock strategists are realizing the financial potential for both Home Depot and Lowe’s. Recent thinking can be attributed to a number of company-specific programs that shift away from square footage growth and concentrate more on store efficiency. The program objective for both these companies is to reduce costs and drive margin expansion.
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.
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.
Home Depot is pondering the idea of scaling back the space it usually provides for kitchen showrooms. Due to the 50% downturn in kitchen industry sales, the company plans to use the space for assembled cabinets and re-facing programs. Home Depot typically dedicates 500 sq. ft. to showrooms and kitchens.
The Home Depot shared some key planning and financial insights to the business community during the December Investor and Analyst Conference. Among key points highlighted were the company’s projected sales increase for 2011, its plan to open 10 new stores, and its interconnecting retail plan for the New Year. New retail locations will be opening up in Mexico, Canada and the United States. The company also will be rolling out a new mobile application to help customers shop online more efficiently.