Lowe’s CEO Robert Niblock cited the recovering U.S. economy as among the reasons why the company plans to focus more on market differentiation and omnichannel retailing. The company said it will outline these and other strategic priorities in a meeting with investors on Dec. 11 in North Carolina. “We’re at a great point in our […]
The holiday season started strong at Costco where U.S. same store sales advanced 7 percent during the company’s first quarter ended Nov. 23. Total company sales during the period increased 7 percent to nearly $26.3 billion from $24.5 billion. Membership income grew slightly slower, advancing 6 percent to $582 million. Same stores sales excluding the […]
Atlanta-based Home Depot will acquire HD Supply Hardware Solutions from its former HD Supply unit for an undisclosed sum, the companies announced Tuesday. HD Supply Hardware Solutions, based in Aliso Viejo, Calif., is a supplier of business hardware, fasteners, ropes and chains, mainly to Home Depot, which accounts for 98 percent of the company’s sales. […]
American Express Co. (AXP) risks losing at least 15 cents a share of 2015 profit if it fails to maintain a credit-card partnership that Costco Wholesale Corp. (COST) is said to be reconsidering, according to analysts’ estimates. The lender’s exclusive role as the credit-card provider for Costco’s U.S. stores may generate 20 cents to 30 cents of earnings […]
Lowe’s Innovation Labs will introduce two autonomous retail service robots in an Orchard Supply Hardware store in midtown San Jose, California, during the upcoming holiday season to study how robotics technology can benefit customers and employees. Called OSHbot, the robots will assist customers to navigate stores by directing them to specific products and providing real-time […]
CHICAGO — By selling directly to Chinese consumers on Alibaba’s platform, a move announced last week by the American retailer Costco Wholesale, it aims to employ local knowledge and a low-cost structure to avoid missteps that caused even Walmart, the world’s largest retailer, to stumble in China. Many global retailers opening in China have struggled to find […]
The Home Depot promoted Marc Powers to the role of EVP U.S. Stores, effective Nov. 1, 2014. “Marc brings a deep understanding of our operations, culture and customers, making him an ideal fit to oversee our U.S. stores,” said Frank Blake, chairman and CEO. “We’re truly fortunate to have such a deep bench with leaders […]
One of the most annoying aspects of grocery shopping for consumers is arriving at the store to find the items they wan’t are sold out. There’s typically nothing supermarkets can do about it at the time, but now Shelfie is giving customers rewards for tracking empty shelves, delivering the data to stores to help them avoid stock […]
The launch of Apple’s mobile payment system could prove a turning point in the battle to secure your debit and credit card information from hackers. Tens of millions of card numbers have been stolen in the last few months from malware-infected payment terminals in stores including Target and Home Depot. The thefts were possible in part because the […]
NEW YORK (AP) — Home Depot’s data breach could wind up being among the largest ever for a retailer, but that may not matter to its millions of customers. The nation’s largest home-improvement chain on Monday confirmed a theft that could have gone back as far as April and affected customers who used credit and […]