Content about retail

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 21, 2014

The Toro Company declared that it was well on its way to meeting its previously stated 2014 goals upon the release of its third-quarter earnings report Thursday.

Sales for the quarter were up 11.3% year-over-year to what Toro referred to as a "record $567.5 million," riding a wave of strong retail demand across its various segments.

Net earnings of $50.0 million were also up in comparison to last year's $40.1 million.

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 19, 2014

Charlotte, North Carolina-based Wastequip has hired Andrew Bardsley to the newly created role of VP retail for the Toter brand, in which he will be charged with leading the team's new Retail Business Unit.

With Bardsley in place, Toter's consumer business is poised to work toward its new long-term growth initiatives, including a move that will involve shifting all of its manufacturing operations to the U.S. Bardsley will be at the helm of Toter's "Made in America" initiative.

August 15, 2014

Freight transportation provider Hub Group is the recipient of Sears Holdings’ Partners in Transformation award, the Oak Brook, Illinois-based company announced Friday.

"Hub Group has been a proud transportation provider for Sears Holdings since 1990," Hub Group chairman and CEO David P. Yeager said. "It is an honor to receive this award and it has been a pleasure to watch our relationship grow steadily from hard work and dedication on both sides."

August 14, 2014

Chicago -- Orgill's 2014 Fall Dealer Market kicked off Thursday morning here at McCormick Place with showcase categories, model stores and deep-discount "Door Busters."

The three-day event runs through Saturday.

On the show floor, four product areas are designated as showcase categories -- hand and power tools, winter and wild bird assortments, spring products and maintenance and repair.

August 13, 2014

With a stagnant retail sales report this morning, it wasn't a great day for economic indicators. However, HCN stocks performed decently on Wednesday.

August 13, 2014

After several months of increases, U.S. retail sales fell flat in July as motor vehicles and parts sales fell 0.2%.

The Commerce Department reported advance estimates of U.S. retail and food services sales of $439.8 billion, adjusted for seasonal variation and holiday and trading-day differences. This compares to a preliminary estimate of $439.9 billion last month, though July's figure is up 3.7% year-over-year.

Additionally, total sales for the May through July 2014 period were up 4.2% over last year.

August 6, 2014

Austin, Texas-based Epicor Software Corporation, a global leader in business software solutions for manufacturing, distribution, retail and services organizations, today unveiled the Epicor Eagle N Series.

The solution is described as next-generation retail management software for independent retail businesses. Part of the improvement is a simplified user interface, the company said. 

August 1, 2014

The national unemployment rate reversed its steady downward direction in July, ticking up slightly to 6.2% with the addition of 209,000 jobs, the Department of Labor reported.

However, a greater number of people entered the labor market last month, a sign that prospects could be improving for discouraged and long-term unemployed workers. July saw 741,000 discouraged workers, down by 247,000 year-over-year. However, the number of long-term unemployed, those employed part-time for economic reasons and the civilian labor force participation rate were little changed in July.

July 31, 2014

As is its annual custom (now in its fourth year), Ace Hardware Corporation recognized a new spate of Ace stores in its 2014 "Coolest Hardware Store" awards. Six stores nabbed the title out of 4,850 Ace stores worldwide, named officially during Ace's Platinum Conference held in Las Vegas.

July 30, 2014

The National Retail Federation is making an effort to better serve Main Street merchants and independent retailers via the launch of the Small Business Retail Council, which it announced during this week's Retail Advocates Summit.

The SBRC is aimed at recruiting and engaging small business owners in various grassroots advocacy activities, as well as providing a forum for members to discuss the public policy issues that affect them most.

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

Ace Hardware has struck a deal with RONA, a Canadian retailer and distributor of hardware, building materials and home renovation products, to forge a long-term agreement for master licensing of the Ace brand in Canada.

July 23, 2014

Julie Lyle, chief marketing officer for Indianapolis appliance, electronics and furniture retailer hhgregg, has been named the 2015 chairperson for the Global Retail Marketing Association (GRMA) Advisory Board.

As chairperson, Lyle will lead the GRMA Advisory Board and play a key role in the development of the organization’s strategic initiatives and thought leadership. Lyle succeeds Brian Beitler, EVP and chief marketing officer, David’s Bridal, who served as chairman from 2012 to 2014.

July 23, 2014

The National Retail Federation today lowered its retail sales forecast for 2014 because of slow growth recorded during the first half of the year, but said sales are expected to grow significantly faster over the next five months. NRF forecasted in January that retail sales would grow 4.1% in 2014 over 2013, but today’s revision lowers the forecast to 3.6%.

July 21, 2014

Housing starts sent shockwaves through the industry after falling more than 9%. Meanwhile, retail sales made progress in May.

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July 18, 2014

Portland, Maine-based Emery-Waterhouse, the hardlines distributor acquired by Ace Hardware Corp. in February, announced the new hire of Charles Chibante as VP of Sales.

Chibante comes to Emery-Waterhouse bringing over 20 years of experience in retail, operations, marketing and leadership, including 13 years with Wal-Mart in various leadership positions, as well as eight years as a partner in a family owned and operated construction company.  

July 17, 2014

A more stable lumber market boosted the second-quarter performance of Universal Forest Products, even as the company was forced to pay higher duties for Chinese nails. 

Universal reported second-quarter net earnings of $21.8 million, up 38.1% over net earnings of $15.8 million for the second quarter of 2013. Net sales were $773 million, up 4.6% from $738 million in the same quarter last year.

July 16, 2014

Loudon, Tennessee-based Iron Doors Unlimited has named Matt Hocutt as its newest national sales manager, effective July 7.

Hocutt will be leading the company's sales team in his new position, driving go to market sales and execution strategies for driving growth in the company's trade, retail and wholesale channels.

July 15, 2014

U.S. retail sales went up 0.2% in June to a total of $439.9 billion for the month, according to data released today by the U.S. Census Bureau. Though the growth fell below many economists' expectations, June's activity still pointed to a strengthening economy, with sales that were up 4.3% year-over-year.

Retail trade sales (not counting food service) fared slightly better -- up 0.3% since May. Nonstore retailers were up 8.1% year-over-year, and health and personal care stores were up 7.9% since 2013.

July 11, 2014

Appliance parts distributor Marcone Canada hired Peter Szachlewicz as its first president. 

Marcone Supply, the company's U.S. counterpart, established a presence in Canada with its 2010 buyout of APWagner. Since that time, Marcone Canada has experienced growth in both its retail and wholesale operations, the company said, selling authorized OEM appliance parts, HVAC components and property maintenance supplies.

July 9, 2014

Steve Mahurin has left Orchard Supply Hardware, where the veteran home improvement merchant and retail industry executive held the title Chief Retail Officer.

According to the San Jose, Calif.-based retailer, Mahurin’s position was eliminated as the company transitions to a focus on operations and expansion. 

July 9, 2014

The National Retail Federation performed an internal shuffle, first by hiring Paul Martino as VP and senior policy counsel and second by promoting Beth Provenzano to VP for Federal Government Relations.

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