Content about Economy of the United States

May 16, 2012
HD testing ultra light Sheetrock

USG Corp.’s Sheetrock Ultralight panels are being piloted in 16 Home Depot stores, according to blog site JetsonGreen.com. The product, first tested in 2010, weighs anywhere from 15 to 24 lbs. less than typical gypsum board, depending on the size. It can be used with a 40% lighter joint compound released in January 2012.

The product has at least 16 reviews at Home Depot, and many of the comments reflect that the panels feel light and score easily, according to the report.

May 15, 2012
Walmart throws weight into home improvement

The world’s largest retailer is taking steps to display its home improvement prowess through a digital marketing campaign centered on a “Projects Made Simple” area at Walmart.com.

May 9, 2012
LoopRopes secure a spot on Wal-Mart shelves

A tie-down tool called LoopRopes, designed to help safely transport cargo in the back of a truck or car, will find its way into Wal-Mart Stores, according to the Medford, Ore. Based supplier.

Wal-Mart Stores ordered more than 11,000 "LoopRopes" for 1,100 Wal-Marts from the company, making it Jeff Dahl’s largest wholesale order since inventing the product just over two years ago.  

May 4, 2012
2012 Hardware Store All-Stars

Last year, the original 50 Home Channel News Hardware Store All-Star honorees established a high bar and a hard act to follow. But the 2012 crop rises to the challenge. This year’s Hardware Store All-Stars, one from each of the 50 U.S. states, have at least one thing in common: Ask them what makes them special and you can bet they’ll include “excellent customer service” in the answer. From there, every path to stardom is unique.

March 27, 2012
Home Depot looks at San Francisco, again

After pulling out of a long-planned store project in San Francisco, Home Depot is looking once again at opening its first location inside the city. According to an article in the San Francisco Chronicle, the home improvement retailer has filed an application with the city to build a 120,000-sq.-ft. store on 7.9 acres in the Bayview section. 

March 21, 2012
Bob Taylor to enter Home Channel Hall of Fame

The Home Channel Hall of Fame will welcome Do it Best Corp. CEO Bob Taylor during an induction ceremony at the 2012 National Hardware Show in Las Vegas.

The Home Channel Hall of Fame has been recognizing outstanding service to the hardware and home improvement industry since 2004. Recent inductees include Larry Stone (2011), president emeritus of Lowe’s, and Pat Farrah (2010), one of the original founders of The Home Depot.

March 15, 2012
Sears closure count increases, including 10 hardware stores

According to an article in the Chicago Tribune, the closing of 43 Sears hometown dealer stores and 10 Sears Hardware stores are planned for the first half of 2012.

The latest revelation on Sears' plans to cut its expenses and transform its business came from its annual report, which was released late Wednesday. 

March 15, 2012
Sears loses another appliance merchant

Dev Mukherjee, president of the home appliances business at Sears for the past 16 months, has departed the company, according to an article in the Chicago Tribune. A replacement will be named “in a few weeks,” according to a Sears spokesman.

March 13, 2012
'Homer Bandit' gets seven-year sentence

A San-Diego area man will be sentenced to seven years and four months in prison after pleading guilty to nine felonies that include making fraudulent purchases at Home Depot stores. According to a story reported by the City News Service, Joel Booth, age 39, used counterfeit checks and identification cards to purchase items at a number of Home Depot stores in San Diego and Riverside counties. Police investigators nicknamed him “The Homer Bandit,” after Home Depot’s original mascot.

March 5, 2012
NAHB proposes housing finance overhaul

The National Association of Home Builders (NAHB) has announced a comprehensive reform plan for the housing finance system that would transition Fannie Mae and Freddie Mac to a new mortgage securitization system for single-family and multi-family conventional mortgages.

March 2, 2012
Lowe’s named as Six Flags sponsor

Six Flags Entertainment Corp. has announced a new marketing relationship with Lowe's, which will be named the sponsor of opening weekend at participating Six Flags parks across the nation.

Lowe's will be integrated into Six Flags' marketing efforts on both the national and local levels this spring. Additional support will include social media outreach, radio promotions and in-park giveaways.

February 27, 2012
Sears adds Great Indoors to closing list

Sears quietly added all nine of its Great Indoors stores to the list of store closings on Feb. 23.

Store managers were informed on Thursday, a Sears spokeswoman confirmed, but no exact date has been given for the closings.  

The upscale remodeling and home décor stores began opening in 1998, long before the Sears and Kmart merger. At one point, Sears operated 20 of the units, but they were never a big moneymaker for the company. 

February 23, 2012
Sears reports $2.4 billion Q4 loss

Sears Holdings Corp. has reported a loss of $2.4 billion in the fourth quarter, compared with a profit of $374 million in the year-ago period. And in a move long anticipated by some analysts, the chain also announced plans to tap into its massive real estate holdings to help make up for its faltering retail performance.

Revenue slipped 4% to $12.5 billion from $13 billion. Same-store sales fell 4.1% during the quarter at Sears and 2.7% at Kmart.

February 22, 2012
Home Depot points to Q4 winners

The Home Depot this week announced fourth-quarter sales of $16 billion, a 5.9% increase over the same quarter last year. What happened? From Craig Menear's perspective, the answer involves execution, warm weather and strength in maintenance and repair categories.

February 21, 2012
Customer service strategy: A free car

Valley Forge, Pa.-based CertainTeed Roofing gave away a new car in the name of customer service, and through a promotion called "On the Road Again." 

“The ‘On the Road Again’ promotion is a way for us to show our appreciation to loyal customers like Jack Impriano,” said Jay Butch, director of contractor programs for CertainTeed Roofing.

February 21, 2012
Home Depot reports strong fourth quarter

Boosted by mild temperatures and spring-like selling conditions throughout much of the country, Atlanta-based Home Depot saw sales rise nearly 6% in the fourth quarter.

The home improvement giant reported fourth-quarter sales of $16.0 billion, up 5.9% from the same quarter last year. Comparable-store sales were positive 5.7%, and up 6.1% in the United States.

"We had a strong finish to 2011, and with favorable weather, our business delivered results that exceeded our expectations," said CEO Frank Blake. 

February 16, 2012
Competitors unite at City of Hope event

Orlando, Fla. -- The stage of the 2012 City of Hope “Spirit of Life” event featured one brand new honoree, several more industry icons and 30 years of memories for the hardware/homebuilding group.

Convening for the good of the California-based cancer treatment and research center, executives and supporters filled a banquet room at the Rosen Plaza Hotel here on the eve of the International Builders' Show to honor the man of the hour: Ace Hardware's Ray Griffith. The president and CEO of the Oak Brook, Ill.-based hardware co-op accepted the 2012 Spirit of Life award.

January 20, 2012
Home Depot acquires home services platform provider

Home Depot has announced the purchase of Redbeacon, an online matchmaker that connects consumers with contractors for home repairs, maintenance and remodeling. The purchase price was not disclosed. 

January 12, 2012
Home Depot springs forward with hiring push

The Home Depot has begun its recruiting process for spring, the company’s busiest selling and hiring season. There are more than 70,000 seasonal positions to fill, the company said. 

January 6, 2012
The Fed's Bernanke speaks out on housing

The Federal Reserve, in a Jan. 4 report sent to members of Congress who sit on banking committees, warned that mortgage lending standards are holding back the nation’s economy.  

The 26-page white paper was an unusual foray into the housing sector for an agency concerned primarily with monetary policy. But Federal Reserve Chairman Ben Bernanke stated: “Restoring the health of the housing market is a necessary part of a broader strategy for economic recovery.”  

January 5, 2012
MyLowe's on display at technology show

The Mooresville, N.C.-based home improvement retailer's MyLowe's online product will be on display at the 2012 International CES show in Las Vegas.

The tech features of MyLowe's include a card or key fob to track in-store purchases online; a digital home profile to create rooms and store floor dimensions, product details and notes for the home; and folders to organize projects and ideas.

The Jan. 10-12 consumer electronics show is one of the biggest trade fair's in the country. 

 

 

January 3, 2012
Sears brings in a new merchandising leader

Sears Holdings hired Ron Boire as executive VP and chief merchandising officer. Boire, who previously was president and CEO of Brookstone, will lead merchandising and retail stores for both the Sears and Kmart brands.  

He will work with the company's leadership team to better serve its customers and Shop Your Way Rewards Members by integrating their experiences across stores, online, services and mobile capabilities, the company said.

December 30, 2011
Sears lists 80 stores to close

Hoffman Estates, Ill.-based Sears Holdings has identified 80 of the 100 to 120 stores it plans to close as part of a strategy it announced earlier this week.

The list of 80 stores-to-be-closed includes 39 Kmart stores, 25 Sears full-line stores, and 14 Grand/Essentials and two Sears Hardlines Only stores. The list can be seen here.

December 29, 2011
Lowe's buys online retailer ATG Stores

Mooresville, N.C.-based Lowe’s acquired ATG Stores, an online retailer of home improvement and lifestyle products based in Kirkland, Wash. 

The acquisition, announced Thursday morning, "underscores Lowe’s commitment to providing an endless aisle of products," the company said. The move is part of an effort to boost the retailer's online and multichannel presence.

December 27, 2011
Sears Holdings to close 100-plus stores

Hoffman Estates, Ill.-based Sears Holdings plans to close 100 to 120 Kmart and Sears full-line stores after reporting a disappointing recent performance. The Tuesday morning announcement -- contained in a press release titled "Sears Holdings Provides Update" --  reported a 5.2% comp-store sales decline for the quarter-to-date period, and a 2.6% decline in the year-to-date period, ended Dec. 25. 

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