Home Depot posted positive growth in both its comp store sales and net earnings in the 3Q. The report came out a day after Lowe’s posted a sales increase of 1.9%. The Atlanta based company expects sales to increase by 2.2% before the end of the fiscal year.
Dick’s Sporting Goods saw a small drop of their net income from a year ago, ending the third quarter at $16.9 million. Sales however rose 9% posting final numbers at $1.08 billion, up from last years $990 million. With 12 new stores opening in the third quarter, chairman and CEO, Edward W. Stack recently stated that he remains extremely optimistic about the company’s ability to double their network and fuel future growth.
Orchard Supply Hardware is rolling out a thrifty ad campaign by offering its customers products in dollar themed categories. The campaign titled, “By George, it’s Dollar Days”, is meant to appeal to its economically saving consumers by featuring items ranging from $1 to $15. Along with the dollar campaign rollout, the California based hardware store will be offering 20% to 75% discounts to its big-ticket items such as beach chairs and umbrellas
According to the New York Times, Walmart will be offering free shipping to its online customers. Beginning this week and ending Dec. 20, online shoppers can purchase items with no minimum restrictions on more than 60,000 products. The company will not raise prices to off set the costs involved with its product distribution.
A survey recently conducted by Deloitte found both CPG and retail executives in agreement that market share of store brands will increase significantly by 2012 in the United States. The survey titled, “The Battle for Brands in a World of Private Labels”, had 77% of CPG executives and 90% of retail executives concurring the same sentiments.
Citing poor sales and bleak economic projections, Lowe’s has closed two stores in Southern California. The two branches, located in Apple Valley and San Bernardino, were particularly susceptible to financial troubles due to recession and to foreclosures in the area.
Builders FirstSource reported a 4.5% decrease in net income for the third quarter, 2010. Sales were posted at $180.4 million, a significant drop of over $80 million from the previous year. Although sales increased 5.6%, gains were negated due in part to volume and competitive pricing pressure.
Using last year as a parameter, Tractor Supply showed a 45% third quarter increase in net income for sales ending Sept. 15, 2010. Posting $32 million in profits, the company cited animal and pet-related merchandise as a reason for the financial success. As well, nine new stores opened in the quarter compared to 17 the year before.
Sam’s Club will be joining other large retailers in offering two of Apple’s most popular products, the iPad and iPhone. During a Wednesday morning presentation, executive vice president of merchandising, Linda Heffner, announced the company’s decision to a panel of financial analysts.
Despite the reality that co-op sales were under $2.4 billion (a 2.1% decrease), Do It Best was in high spirits due to its success in securing over a $100.6 million in rebates for its company’s members. The company announced the rebate news at the 2010 “Fall Market” in Fort Wayne, Indianapolis during the co-op’s annual shareholder meeting. Although declines hit direct sales and retail service centers (5.2% and 4.2% respectively), lumber sales jumped up to 7.2%. President and CEO Bob Taylor attributed the company’s large member rebates during a weak economy to upgrades in the company’s logistics and order fill systems.