Content about Home Centers

August 21, 2014

The Home Depot announced that current CEO Frank Blake will be passing the torch to Craig Menear this fall.

Menear, who is currently serving as president U.S. retail, will take over as CEO and president as of Nov. 1, 2014. He has also been elected to the company's board of directors, effective immediately.

August 22, 2014

Lowe’s generated positive comp-store sales in all of its product categories in the second quarter. And even as it faced a strong comparison to the prior-year’s quarter, lawn and garden led the way.

Those were among the insights provided by Lowe’s executives during their second-quarter earnings report, in which the Mooresville, North Carolina-based company reported sales and earnings growth.

August 22, 2014

While describing his company’s second-quarter sales performance, Lowe’s CEO Robert Niblock offered an economic forecast tinged with optimism.

August 20, 2014

On Wednesday morning, it was Lowe's turn to deliver strong quarterly earnigns.

And the Mooresville, North Carolina-based retail giant did just that. The company reported net earnings of $1.04 billion for the quarter ended Aug. 1, marking a 10.4% increase over the second quarter last year. Sales for the quarter were up 5.7% to $16.6 billion, as comparable-store sales were up 4.4%.

"We were able to recover most of the outdoor product sales missed in the first quarter due to unfavorable weather conditions," said Robert Niblock, president and CEO.

August 20, 2014

The Home Depot’s President of U.S. Retail Craig Menear had plenty of positive numbers to discuss from a merchandising standpoint after the company reported comp-store sales growth of 5.8% in the second quarter.

All three U.S. divisions had positive comps, and also beat their sales plan, Menear said. Additionally, all departments had positive comps for the quarter, in which Home Depot reported sales of $23.8 billion.

August 19, 2014

It’s no wonder The Home Depot CEO Frank Blake was smiling wide in his ALS Ice Bucket Challenge video. He and his leadership team were about to report second quarter net earnings in excess of $2 billion.

“We saw broad based growth in the quarter across all of our geographies,” Blake said during the company’s second quarter earnings call Tuesday morning.

August 19, 2014

Home Depot's net earnings crossed the $2 billion mark in the second quarter, as spring business for the world's largest home improvement retailer rebounded along with core departments.

Net earnings of $2.050 billion were up 14.2% from the same quarter last year. Net sales rose 5.7% to $23.811 billion. Comparable store sales were positive 5.8% -- and positive 6.4% for U.S. stores.

August 18, 2014

Citing insider sources, Bloomberg reported Friday that Lowe's is working with Goldman Sachs in its search for acquisitions in Brazil, although the company is still reportedly weighing its options.

The move would help Lowe's establish a presence in a market without clear leaders -- one that's expanding as incomes (and the number of new homeowners) grows in Brazil. As it stands, there's little competition aside from corner hardware stores.

August 13, 2014

IKEA is prepping for the grand opening of its new Miami-Dade location, set to open on Aug. 27, 2014 to mark the company's second South Florida outpost.

“Construction work has advanced far enough to allow the interior build-up process and finishing details to be complete by August 27,” noted Selwyn Crittendon, store manager of the future IKEA Miami. “Now our primary goal is the final training of the more-than-350 local hires joining the IKEA coworker family.”

August 12, 2014

Kmart has a new president and chief member officer in Alasdair James, who will be leaving his job as Tesco's commercial director, global business.

In his new role, James will be charged with driving the Kmart format strategy, managing the Kmart P&L and aligning merchandise, marketing, pricing and selling for Shop Your Way members.

August 1, 2014

Hardwood flooring company Lumber Liquidators has donated one of its Dura Dance flooring systems to the Cincinnati, Ohio-based Highsteppers Drill Team as part of its Lay It Forward charity campaign.

The 15-year-old drill team recently moved into a new space, but didn’t have a proper floor, which led to Lumber Liquidators installing the Dura Dance system, which features underlying rubber to reduce impact and absorb energy.

July 30, 2014

After a delay of several days, Lumber Liquidators has released its second-quarter earnings report, which reflected an estimated aggregate net sales shortfall of up to $18 million in certain product categories. Net sales for the quarter still increased, however, by 2.3%, totaling $263.1 million (compared with $257.1 million in the same quarter last year).

Comparable-store sales decreased by 7.1%, with the average sale declining 1.8%. Net income was $16.6 million for the three months ended June 30, down 18.7% from last year's $20.4 million.

July 30, 2014

The Home Depot has promoted Ted Decker to the position of EVP merchandising, where he will take the helm of the company's merchandising strategy and operations. Effective Aug. 4, Decker will transition from his most recent role as SVP retail finance and begin reporting to Craig Menear, president U.S. Retail.

Decker has been with the company for 14 years, during which time he played an integral role in the company's merchandising transformation and led the implementation of new pricing and analytics processes.

July 29, 2014

Massachusetts-based lighting company Osram Sylvania announced that it would be expanding it’s lineup of LED light bulbs. This month, Lowe’s will start stocking the seven new bulbs.

Among the company’s new LED bulb offerings are the ones meant to replace 40- and 60-watt incandescent bulbs. The 60-watt LED bulb puts out the same amount of light as a 60-watt incandescent with 8.5 watts of electricity.

July 29, 2014

Lowe's is catering even further to its pro customers with the launch of ProExpress, an on-demand delivery service for emergency and last-minute supplies.

"For pros, time is money," said Mike Horn, VP ProServices. "The ProExpress program allows us to offer our pro customers the ultimate convenience and flexibility by delivering the materials they need, when they need them."

July 28, 2014

The Home Depot has donated $81,000 to a rural retreat for wounded veterans and their families. The money will go toward building a barn and run-in for horses, as well as some garden project at the Boulder Crest Retreat for Military and Veteran Wellness.

July 22, 2014

Lowe's revealed its plans Tuesday to build a new Customer Support Center in Indianapolis, which is expected to reach completion by 2016.

The announcment was made with Lowe's officials in the company of Indiana Governor Mike Pence and Indianapolis Mayor Greg Ballard. 

July 22, 2014

The Devine Contact Collection of luxury vinyl flooring is now available at Lowe's locations throughout Canada.

The flooring product, which offers the additional sales proposition of easy installation with a patented adhesive backing, is also currently distributed through Wanke Cascade in the Western U.S. The product is not on the shelves in Lowe’s U.S. stores.

July 14, 2014

The 3-D printer movement got a boost months ago when Home Depot began offering 3-D printers and scanners for sale through its website.

Now the world’s largest home improvement retailer is bringing the products to shelves in select markets. Home Depot is introducing MakerBot 3-D printers and scanners in select stores in Chicago, New York City, Los Angeles and San Francisco.

July 14, 2014

IKEA announced its plans to build a Las Vegas location, to be opened in the summer of 2016.

So far, the retailer has submitted its plans to Nevada's Clark County. The 351,000-sq.-ft. store would be located in the Spring Valley area, approximately 13 miles southwest of downtown Las Vegas.

July 9, 2014

In their latest round of back-to-back earnings call presentations, Home Depot and Lowe’s trotted out statistics for a weather-beaten first quarter, along with insights on what worked and what didn’t.

Michael Jones stepped into the role of Lowe’s chief customer officer by stepping up to the microphone. Jones, who replaced the retiring Greg Bridgeford earlier this year, walked analysts and investors through Lowe’s performance, which saw a comp-store sales increase of 0.9%.

July 8, 2014

Sears Holdings has hired Kristin Coleman as SVP, general counsel and corporate secretary, where she will oversee the Legal, Corporate Communications, Environmental Services, Global Compliance, Government Affairs, Internal Audit and Product Safety business units.

"I am pleased Kristin is joining our leadership team. She is a proven leader with experience managing legal, compliance and corporate governance issues," said Edward Lampert, Sears Holdings chairman and CEO.

July 8, 2014

Shop Your Way members at Sears and Kmart will now have 2,000 more store locations from which to elect Free Store Pickup services.

Using the integrated shopping option, customers can pick up their online orders at their choice of over 2,000 locations nationwide, ready in five minutes or less. This is especially convenient for customers who wish to buy Kmart supplies, but live substantially closer to a Sears location.

The service also makes it possible to obtain free pickup for exclusive brands like Bongo and Outdoor Life.

July 1, 2014

AZEK, Home Depot and OrePac all teamed up Thursday, June 19th to help spruce up a garden for disabled vets in San Bernardino, California.

The Veterans Exploration Garden in Speicher Memorial Park received a new AZEK Paver walkway (which is made with 95% recycled materials) for smoother wheelchair access.

June 25, 2014

Marvin Ellison, EVP U.S. stores for Home Depot, took the mic at the Oppenheimer Consumer Conference Wednesday, where he dedicated his time to discussing the retailer's approach to ever-evolving customer service needs.