Content about Hardware stores

June 19, 2013
A brighter outlook for mom-and-pop hardware stores

In a slight reversal from the dominant narrative concerning big-box stores and their smaller competitors, independent hardware stores are seeing a bit of a revival across the United States as the economic outlook begins to brighten for the industry.

According to an IBISWorld report released in February, industry revenue has declined at an annualized rate of -0.4% over the last five years. However, IBISWorld estimates that revenue will finally trend toward the positive in 2013 at a growth rate of 2.0%, in addition to a 16.5% jump in consumer sentiment.

June 19, 2013
Orchard Supply moves forward with liquidation process

Following its asset acquisition deal with Lowe's, Orchard Supply Hardware is moving forward with its effort to close underperforming stores and has won approval to seek bids from liquidators to hold going-out-of-business sales.

June 18, 2013
Ace names new board members

Ace Hardware has announced the appointment of two new member directors to its board of directors: Stew Elliott Jr., of Elm Grove, Wis.; and Amy Kaplanis of Granby, Colo.

Elliott, 55, is a majority shareholder of Elliott Ace Hardware, a four-store Ace chain located in the western suburbs of Milwaukee. Prior to taking ownership in Ace Hardware, Elliott held a leadership sales role with Amerock, a vendor serving the convenience hardware industry, for six years.

June 17, 2013
Lowe's to buy assets of Orchard Supply

As part of Orchard Supply Hardware's filing for Chapter 11 bankruptcy, the company has reached an agreement for Lowe’s to purchase the majority of its assets for $205 million in cash, plus the assumption of payables owed to nearly all of Orchard’s supplier partners. Under the terms of the agreement, Lowe’s, serving as “stalking horse bidder,” would acquire no less than 60 of Orchard’s stores, based on further due diligence on the store locations.

June 13, 2013
House-Hasson unveiling local website tool for dealers at June dealer market

In response to demand for Web-savvy tools and a localized focus, independent retail hardware distributor House-Hasson has created a website tool that will allow customers to order products from the House-Hasson website and pick them up at a store near them.

House-Hasson’s 2,000-plus independent hardware store and lumber yard dealers will be able to employ the electronic tool to help promote a hyper-local marketing ethic to their customers and offer a digital solution to the printed circular.

June 12, 2013
True Value brings Discover to retail

Chicago-based True Value Co. is in the early stages of the launch of its Discover credit card program, and expectations are high, according to the co-op.

June 11, 2013
Board shift: Chairman steps down at Orchard Supply

William Crowley, chairman of the board of directors of San Jose, Calif.-based Orchard Supply Hardware, resigned as a Class A Director of the company.

The resignation was announced in an Orchard Supply filing with the Securities and Exchange Commission.

June 10, 2013
Report: Orchard Supply considers bankruptcy option

Orchard Supply Hardware, the historic California brand that has strived to strike a happy medium between big-box home center and friendly neighborhood hardware store, is considering a bankruptcy option, according to a report in Bloomberg News.

The report also says the California hardware chain is continuing talks with lenders over its $261 million debt and lease obligations. 

June 7, 2013
Sears Hometown and Outlet slips in Q1

Sears Hometown and Outlet Stores, the former division of Sears Holdings that spun off in October, posted first quarter sales of $601.1 million, down 3.2% from the first quarter last year.

Net income for the quarter ended May 4 was $15.0 million, down from $20.6 million in last year's first quarter.

Same-store sales of lawn and garden, the retail company's second-largest category, dropped 45% in the first two months, the company said, as cool weather took its toll. The category improved significantly in April, when it showed comp-store sales gains of 4.2%

June 5, 2013
J.D. Power again points to Ace

An annual measure of customer satisfaction among home improvement retailers is following a familiar storyline again this year.

J.D. Power & Associates Wednesday morning released its 2013 Home Improvement Retailer Satisfaction Study showing Ace Hardware at the top of the list for the seventh consecutive year.

June 5, 2013
More AHMA members report growing sales

A monthly American Hardware Manufacturers Association (AHMA) survey suggests sales are up across the membership.

In comparing current sales levels with year-ago levels, 67% of respondents said sales were higher in May versus year-ago levels, up from 56% in April. For May, 19% reported sales were even, and 14% said sales were below year-ago levels.

May 29, 2013
Eye on the weather, Do it Best sees opportunity

Indianapolis -- Bob Taylor has a good memory for weather conditions.

Back in March, the Do it Best Corp. CEO flew out of Fort Wayne, Ind., with the thermometer reading 14 degrees. On exactly the same day the year before, traveling to the same business event, the temperature was a balmy 83 degrees.

May 29, 2013
Orchard Supply’s new format expands

Orchard Supply Hardware’s neighborhood format is spreading.

The San Jose, Calif.-based hardware and garden chain announced the planned grand re-opening event of its Van Nuys, Calif., store on June 8. The store will mark the chain’s 17th new neighborhood format.

One of the new features of the format, according to the store’s designers, is better “in-and-out convenience than big-box home improvement stores.”

May 28, 2013
Coming to Afghanistan: Ace stores

Ace Hardware International Holdings has teamed up with Safi and Safi Enterprises to bring Ace stores to Afghanistan.

As a part of the development plan, Safi and Safi will open a minimum of 15 Ace Hardware stores in the next 10 years.

May 26, 2013
Hardware store sets stage for instruction

Island Park, N.Y.-based Costello’s Ace Hardware in Island Park is joining forces with TV personality, carpenter and DIY expert Carmen De La Paz to offer hands-on instruction to local residents undertaking home restoration projects as a result of Hurricane Sandy’s destruction. 

Dubbed “Project Community,” the event aims to empower local residents with the know-how and confidence to tackle basic water damage restoration projects.

May 23, 2013
Ace reports uptick in revenues

Oak Brook, Ill.-based Ace Hardware reported first-quarter revenues of $923.2 million, up 1.7% from the same quarter in 2012.

Net income of $4.4 million was down from $10.2 million earned in 2012.

May 20, 2013
Do it Best reveals best sellers and opportunities

Indianapolis -- Speaking to the collected body of Do it Best Dealers during the co-op's Merchandising Market Preview here, Steve Markley described light bulbs as a high-interest, high-reward category. 

May 19, 2013
May market emphasizes performance

Indianapolis -- A number of innovations, events and product deals helped draw thousands of member-owners to the 2013 Do it Best May Market. 

“From the strong member response at the Sneak Peek, to the solid attendance at our many seminars and training events and continuing out to the bustle on the market floor, we’ve seen a lot of enthusiasm among our members this weekend,” said Do it Best Corp. President and CEO Bob Taylor.

May 17, 2013
Epicor takes Eagle software higher

Nashville -- Epicor Software Corp. announced the newest version of Epicor Eagle business management software during its Insights global consumer conference here.

With high penetration in the LBM and hardware space, Epicor Eagle software empowers small to midsize retailers with the tools required to optimize their business and better manage day-to-day operations, the company said. 

May 15, 2013
True Value Co. gross billings slip 0.9% in first quarter

Chicago-based True Value Co. reported first-quarter gross billings of $443.3 million, down 0.9% from the same quarter last year.

A nearly non-existent spring in many parts of the country hurt sales. The company also explained gross billings were affected by a decline in lumber and building material vendor direct-ship sales.

"While winter-related product sales exceeded the prior year, the general lack of spring weather this March versus last year was too much to overcome," said Lyle Heidemann, president ad CEO. 

May 14, 2013
Handy welcomes DIP financing deal

Handy Hardware Wholesale said it welcomed the bankruptcy court approval of its debtor in possession (DIP) financing loan modification that brings funding from Littlejohn Management Holdings. 

Littlejohn, which agreed to acquire Handy and shed its co-op structure as it emerges from bankruptcy, will provide a $4 million DIP loan, funding that will commence this week. 

May 14, 2013
Valspar sales flat in second quarter

Minneapolis paint giant Valspar reported second quarter net sales of $1.03 billion, essentially flat with the prior-year quarter.

The company, which recently signed a deal to become the key supplier of paint for Ace Hardware, reported net income of $76.9 million, up from $76.5 million in last year's second quarter.

Volume was up 7%, including the Ace deal, up 3% excluding Ace. 

May 13, 2013
Store owner considers restaurant play

Fuller's Home & Hardware, an Ace dealer in Hinsdale, Ill., is not your typical hardware store. Located in an historic corner building on a picturesque main street downtown, most of the ground floor is a classic neighborhood hardware store.  

The second floor -- known as "The Second Floor" -- is an upscale home decor and kitchen products specialty store. 

May 13, 2013
For Krazy Glue, the fix is in

Krazy Glue, an adhesive brand of Elmer's Products, is spreading the word of its versatility through a multi-media campaign called "the Krazy Big Fix." 

The campaign, promoted here at the Elmer's booth during the National Hardware Show, will include a variety of traditional and social media platforms to collect stories of how Krazy Glue fixed something. 

The campaign allows consumers to interact with the brand, and promises monthly and grand prizes to sustain engagement. 

May 13, 2013
Sherwin-Williams paints NASCAR

NASCAR and Sherwin-Williams announced a multi-year partnership designating the nation's largest specialty retailer of paint and painting supplies as the "Official Paint of NASCAR." 

In the release announcing the deal, Sherwin-Williams said many of its customers "are fiercely brand-loyal fans of the sport."

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