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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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. […]
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,” […]
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 […]