Content about True Value Co.

June 4, 2014

Jeff and Al Bunge of Cedar Lake True Value Hardware were recognized by the Chicago-based True Value Company as one 13 “Best Hardware Store in Town” honorees.

According to the co-op, Jeff got his own department in the family owned store at the age of 11, working under his father and uncle. The store was converted to the Destination True Value format in June 2012.

May 29, 2014

As paint-aisle competition heats up across the home improvement industry, Chicago-based True Value Company says its new True Value Beauty by Design color center is brushing up stores with enhanced technology and merchandising.

May 20, 2014

Gibbs True Value Hardware in Grayson, Kentucky, was recognized by Chicago-based True Value Co. as one of 13 Best Hardware Store in Town honorees.

Accepting the award at a True Value hosted ceremony earlier this year were C.C. and Julie Gibbs. 

The store was the first in the state of Kentucky to adopt the Destination True Value format. The store also offers niche categories, such as fireplaces, outdoor power equipment and a Just Ask Rental business.

April 30, 2014

Chicago-based True Value Co. senior VP and CFO David Shadduck liked what he saw during the first quarter, and didn't hesitate to describe the cold and snowy winter as a net gain for the co-op's 4,500 retailers.

The co-op reported gross billings of $460.1 million for the quarter, up 3.6% from $444.2 million for the same period a year ago. Revenue was $331.5 million, an increase of 6.0%.

April 18, 2014

 

In Canon City, Colo., Fontana True Value is carrying a new stamp of approval: “True Value Best Hardware Store in Town.”

Jim Fontana and Susan Palladino accepted the designation during a True Value Co. ceremony in Atlanta, during which 13 stores were honored.

In Canon City, Fontana True Value is known for empowering employees to make decisions, including returns and price matching. 

“Every day I get customer feedback about how friendly and helpful the employees are,” said Fontana. 

April 11, 2014

True Value Co. recognized Foster True Value Hardware as one of its 13 honorees for its “Best Hardware in Town” program.

The store operates in Mariposa, Calif., where it has a strong reputation as a community supporter with sponsorships and other philanthropic efforts.   

Troy Foster, Monica Evans and Melissa Swank accepted the award during a ceremony in Atlanta earlier this year. 

March 28, 2014

Chanute, Kan.-based Cleaver Farm & Home was recognized by Chicago-based True Value Co. as one of 13 “Best Hardware Store in Town” honorees.

Accepting the award at a True Value hosted ceremony were Chris and Jason Cleaver. 

The retailer converted to the co-op’s Destination True Value format in spring 2013, and the owners see continued community support along with opportunities for growth. 

The farm-and-ranch segment has been an area of focus for the wholesaler, which describes the segment as its fastest growing. 

February 25, 2014

Chicago-based True Value Company reported gross billings of $457.3 million for the quarter ending Dec. 28, an increase of 1.3 % from $451.5 million for the prior year quarter.

Revenue was $340.7 million, an increase of 0.2%. The co-op posted quarterly earnings of $12.5 million, down 57% from $29.1 million for the same period a year ago. Last year’s earnings were inflated by a $16.5 million non-recurring gain. Excluding that gain, earnings were down 0.8%.

February 25, 2014

Atlanta -- True Value Co.'s Special Order App for mobile devices is putting more power into the hands of retailers, according to the co-op.

What began as a concept about 18 months ago, the True Value mobile ordering app is now in its sixth month of operation. It's in use at about 1,800 retailers making thousands of orders, said Rosalee Hermens, VP and chief information officer for True Value. 

February 23, 2014

Atlanta – An information-packed general session here at the True Value Reunion included up-close interviews with a new slate of senior executives and an update on the co-op’s long-running strategic planning effort.

And there was also a little comedy on the stage, as actors impersonated shoppers experiencing BBTSD, or “big box traumatic stress disorder.”

February 23, 2014

Atlanta – Before the True Value Reunion here, Brent Burger spent some quality time with kids from an Atlanta area Boys & Girls Club. On Saturday afternoon, he announced a national partnership between True Value and the youth organization. 

December 16, 2013

Jared S. Littmann, a co-owner of K&B True Value in Annapolis, Md., was recently appointed to the board of directors for True Value Co. 

Formerly an associate county attorney, Littmann brings a wealth of experience to the board of directors, including his service on the Annapolis City Council as an alderman, chair of the Environmental Matters Committee, and member of the Housing and Human Welfare Committee.

December 2, 2013

True Value Co.’s information technology team earned recognition from the Chicago chapters of the Association of Information Technology Professionals (AITP) and the Society for Information Management (SIM)

Chicago-based True Value took home the 2013 CIO’s Most Effective IT Team Award in the large company category.

The program consists of a nomination phase, a qualifying and detailed application process, and a peer panel of judges who score each team.

November 5, 2013

True Value Co. senior VP and chief merchandising officer Mike Clark will retire from the co-op after serving in an advisory role through the end of the year.

Clark's post will be filled by former Ace Hardware executive Ken Goodgame, the co-op announced Tuesday.  

November 4, 2013

Chicago-based True Value Co., which took on a new CEO in May, announced the arrival of three new executives to the co-op's leadership team.

The restructuring brings Ken Goodgame, a former Ace executive, to True Value as senior VP and chief merchandising officer. He will replace Mike Clark, who announced his retirement. Also, Abhinav Shukla joins True Value as senior VP and COO; and Tim Mills becomes the company's new senior VP of growth.

November 1, 2013

Chicago-based True Value Co. reported gross billings of $455.1 million for the quarter ended Sept. 28, an increase of 1.4%  from $448.9 million for the same period a year ago. 

Revenue was $346.5 million, an increase of 2.0% or $6.9 million from $339.6 million a year ago. Comparable-store sales to core domestic hardware store outlets were up 2.8% at wholesale and 4.5% at retail for the quarter.

October 18, 2013

During the height of what some call the Great Recession, as the country was struggling to reverse the economic slide, Tom Hardman was looking for positive themes his hardware store could use to project an attitude that said: “We refuse to participate in the recession.”

“I wanted something to lift our employees’ and customers’ attitudes. One was to make them feel that individually they could make a difference,” said Hardman, co-owner of Hardman Supply Co., of Spencer, W. Va.

October 15, 2013

True Value Co. announced the addition of its newest affiliate member, Family Farm & Home.

Headquartered in Muskegon, Mich., with a warehouse in Grand Rapids, Mich., the chain will bring its wholesale buying for 27 existing stores in Michigan and Indiana to the co-op, effective Nov. 1.

September 20, 2013

Chicago -- True Value Company kicked off its annual fall market here in Chicago with the promise of a "new market experience."

The Sept. 20-22 event is branded as the co-op's "Reunion," with adjustments to the schedule and show floor layout -- and most notably, new leadership. The event will be the first market for new CEO John Hartmann, and dealers will also get to mingle with chairman of the board Brent Burger. 

August 9, 2013

The latest financial release from Chicago-based True Value Co. showed the co-op’s approximate store count down by 100 stores compared to previous recent press releases.

In the boilerplate description of the company at the bottom of the release announcing second-quarter results, the co-op described its footprint as “approximately 4,500 independent retailer locations worldwide.” 

July 29, 2013

Chicago-based True Value Co. Monday night reported gross billings of $543.3 million for the quarter ended June 29, up 1.4% from $536.0 million in the same quarter last year.

Revenue was $411.5 million, up 1.0% in the quarter. The quarterly net margin for the co-op was $23.8 million, up 7.2% from the same period last year. 

June 12, 2013

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.

May 15, 2013

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. 

April 5, 2013

CEO Lyle Heidemann describes 2012 as “one of the most profitable years in the company’s history.”

Chicago-based True Value Co. reported “gross billings” of $451.9 million for the fourth quarter, up 2.3% from the same quarter last year.

“Gross billings” -- a term not used in the co-op’s 2012 earnings announcement -- is a measure of the total amount invoiced to customers, without subtracting discounts or adjustments.

The company’s revenue was $340.4 million, up 3.3% from the prior-year quarter.

March 15, 2013

ATLANTA — Pets, paint and credit figured prominently at the True Value Spring Market here.